STR Partnership Opportunity - Oceanside, CA
We’re looking for STR operator to partner with us on a coastal development in Oceanside, CA. You provide equity, we give you a development in a rapidly expanding tourist market by the beach in Oceanside, CA.
About the Area:
One of the fastest growing/most desired tourist areas in San Diego county: https://patch.com/california/oceanside-camppendleton/oceanside-among-most-popular-airbnb-summer-destinations-county
Three blocks to the beach
Beach, boat harbor, bars, restaurants, movie theater, train, etc all within 5 minute walk.
Current STR inventory is older and largely operating illegally
High occupancy rates
What we can offer you:
Ten luxury units, three blocks from the beach
100% Exclusivity, you get control of the entire building
Street signage in a busy tourist area
Brand new construction, green built project
Ability to choose final fixtures & furnishings
Preferred Partner Qualifications:
The ability to contribute at least $750k in equity
Current operator in the STR space
Ability to deliver an LOI upon agreed terms
In lieu of equity provide mezz debt
Inject additional capital for furnishings & fixtures
Potential Long-Term Exits:
Purchase the property from us at FMV
Sell units individually as condos
Rent as long term units
Real estate market downturn- lean heavier on corporate rentals. Gov’t contractor renters and potential long-term renters
STR regulation restrictions- obtain an CUP for hospitality to operate STR as boutique hotel
Economic downturn- focus heavier on international customers (Canada & Asia) who already come into the area regularly
The approved condo map in place allows us the flexibility to sell one or all of the units at any time if/when favorable conditions present themselves OR if city regulations change.
We control the HOA so there is no risk of another owner in the building shutting us down.
We have two ways to make money outside of STR. We can operate as long term rentals or sell the units. This allows us to mitigate market conditions and city regulations effectively.
Very little competition: 314 is the only new construction in the immediate market that legally allows short-term rentals.
10 luxury units built for short-term rental housing in Coastal Oceanside, CA.
Project includes fully approved final condominium map.
Wholly owned HOA (no potential neighbor complaints/issues)
Hospitality zoning allows for short-term rentals, corporate housing & hotels
About 314 Beach Lofts
Address: 314 N. Cleveland Street, Oceanside, CA, 92054
Description: Luxury vacation rental lofts in a walkable community by the beach in Oceanside, California
Brand new construction, built using the latest in green building methods & materials
10 residential lofts, 2 retail condos
Mix of 2 & 3 bedroom lofts, 1000-2100 square feet
Open floor-plans, luxury appliances, oversized balconies
2 community decks & ocean view deck
Approx. total retail square feet = 1370
Centrally located- two blocks to Amtrak, Downtown and the world famous Oceanside Pier.
30 mins to Downtown San diego, 45 minutes to Orange County, 90 minutes to Los Angeles.
Units are oversized with luxury amenities for longer stays.
Little luxury STR competition in local area.
HOA allows for three-day minimum stays.
Our Competitive Advantages
HOAs written specifically for STR allowing us to be one of the only properties operating legally in the Oceanside area.
Executive team is made up of experts in STR, real estate and hospitality.
Brand new luxury homes with upgraded appliances & finishes; large windows, lots of natural light, etc.
Close to everything (beach, restaurants, shops, transit, etc).
City government prefers our project to be an STR property.
Why This Deal Works
Property can be utilized for corporate short-term housing, long-term rentals, vacation retnals or a combination of all three.
Flexible exit plan- With a final condo map already in place the units can be sold at any time as condos.
Very little competition: 314 Beach Lofts is the only new construction project in the Oceanside market that legally allows short-term rentals.
Large market of vacationers looking for short-term rentals year round in Oceanside.
Great location for corporate housing- can serve SD, OC and LA easily with nearby Amtrak station.
Lots of amenities for STR including ocean view deck, 2 patios, oversized balconies, extra storage, oversized elevator, etc.
Located in a walkable community with a Walk Score of 90 (out of 100).
You are investing in a team of experts with over 75 years of combined experience in STR, real estate, real estate development, hospitality, property management and corporate relocations.
Our team is intimately familiar with both the local market and city officials and organizations that influence it.
We have “boots on the ground” and are ready to deploy our team once we take control of the property.
STR luxury property that appeals to a variety of target markets.
Mitigated risk through a flexible exit plan.
Great coastal location, close to everything.
Full control of HOA.
Final condominium map in place.
Available November 2019.
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