San Diego Business Journal

Oceanside Apartment Complex Sells for $14.2 Million

By Lou Hirsh Friday, April 11, 2014
Photo courtesy of CoStar Group

Photo courtesy of CoStar Group

An investment entity recorded as 42nd Street Apartments LLC has purchased the 88-unit Forest Glen Condominiums in Oceanside for $14.2 million, according to brokerage company Marcus & Millichap Inc., which represented the buyer and seller.

The condominium-entitled apartment complex, at 612 Los Arbolitos Blvd., was sold by Virtu Forest Glen Associates LLC. Marcus & Millichap’s Christopher Zorbas represented the seller, and Stewart Weston represented the buyer.

Zorbas said the property is a high-end condo complex where individual apartment units can be sold in a future market cycle. The complex was built on a 3.4-acre site in 1977.

According to CoStar Group, the buying entity includes limited liability companies based Anaheim, Downey and Seattle. The seller is based in Larkspur.