Investment Highlights
TruAmerica Multifamily expanded its portfolio in Southern California with the acquisition of Presidio at Rancho del Oro in Oceanside, CA. The acquisition of Presidio at Rancho del Oro was TruAmerica’s 16th acquisition of 2019 and is its third property in San Diego County. TruAmerica plans to bring all apartment homes to a consistent, high-quality spec by renovating the 245 classic and partially renovated unit interiors. In addition to the interior capital improvement plan, TruAmerica will enhance the overall image and curb appeal of the property by making targeted improvements to the community exterior and common area amenities. Among these improvements will be painting the exterior of the buildings, upgrades to landscaping and pool areas, and the addition of package lockers and a dog wash.
Property Highlights
Presidio at Rancho del Oro is a unique garden-style community situated in Oceanside, CA. The Property was built in 1987 and consists of 245 apartment homes on just under 27 Acres of land, representing a very low 7.17 unit per acre density. The Property features an attractive unit mix comprised of 42% one-bedroom apartments, 50% two-bedroom apartments, and 8% three-bedroom apartments with floor plans at an average unit size of 923 square feet. All of the homes feature in-unit washer and dryers, and private patios or balconies with additional storage. The community also features impressive amenities, including a junior Olympic swimming pool with two spas, theatre and games room, tennis and basketball courts, soccer field, two dog parks, a strength and cardio fitness center, and fully-equipped clubhouse with a bar and leasing office.
The Property is conveniently located less than a mile from Highway 76, providing residents with access to the main education and employment hubs in North County San Diego. The Property is within 15 minutes of all of Oceanside’s largest public and private employers, including Coca-Cola, Camp Pendleton, Gilead Sciences Inc., and Genentech Pharmaceuticals. Additionally, Presidio at Rancho del Oro is located within walking distance of Old Grove Marketplace shopping center, which is anchored by Lowe’s and Ralph’s, and is in close proximity to The Town Center North and Mission Marketplace, which contain a Walmart Supercenter and CVS Pharmacy, Sprouts, Target, Big Lots, Ross, Dress for Less, McDonald’s, Chipotle, and Pet Smart.
Community Amenities
Apartment Highlights
*In select units
