San Diego Business Journal

Apartment Complex in Oceanside Sells for $14.2 Million

By Lou Hirsh Sunday, April 13, 2014
Photo courtesy ofCostarGroup

Photo courtesy ofCostarGroup

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.