The 20-unit mixed-use residential/retail property at 502-508 Sportsfisher Drive and 510 N. Coast Highway in Oceanside 92054, has been sold for $3.6 million. The property consists of 16 residential units and four retail suites.
The buyers were James W. Ritch and Linda Callas-Ritch, trustees of the James and Linda Ritch Trust. The acquisition was financed with a loan of $2.16 million from JPMorgan Chase Bank.
The seller of the property (assessor's parcel 147-094-11) was Surfrider Shores L.P., a California limited partnership. Devkor Properties Inc. is the general partner of Surfrider and Robert Shapiro is president of Devkor.
The apartment consists of 14 one-bedroom units and two two-bedroom/one-bath units. The residential units range from 591 to 812 square feet and the retail suites range from 805 to 1,158 square feet.
Lou Bulte, senior vice president of Lee & Associates' North San Diego County office in Carlsbad represented the seller. The buyers were represented by Pat Swanson of Hendricks and Partners, Newport Beach. Title and escrow was provided by Chicago Title. The property is managed by S.O.S. Management and Property Services Inc.