3907 Mission Avenue, Oceanside, CA, 92058, US

Mission Flats

Asset description

Executive Summary

Jones Lang LaSalle Americas, Inc. (“JLL”), as the exclusive advisor, is pleased to present Mission Flats (“Property” or “Site”), a fully-entitled 137-unit mixed-use development opportunity with 3,500 square feet of retail space in Oceanside, California. Oceanside is the top submarket for projected rent growth and occupancy in the San Diego MSA, and this low-supply, high quality-of-life North County San Diego submarket is surging amidst a trend in national renter preference towards lower-density projects in desirable suburban destinations. Mission Flats will deliver on this demand, with low-density four-story elevator-served construction leaving ample room for a full set of Class A amenities, and a walkable transit-friendly location placing future residents within steps of dozens of retailers including Albertsons and Stater Bros. The Project is also proximate to local thoroughfare SR-76 as well as SR-78, the corridor connecting hundreds of thousands of jobs in North County San Diego, and is within a five-mile radius of most major amenities and attractions in North County including the Oceanside Pier, Pacific Ocean, Mission San Luis Rey, Civic Arts Plaza, and Downtown Oceanside.

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Attributes

Land area gross

190,357 sf

Media

Investment highlights

Mission Flats is designed as a four-story Type V elevator-served midrise community, with ample surface parking at over 2 spaces per unit. Full entitlements for the project have been secured, creating a clear path to vertical construction.

Entitlement Overview

100% Entitled.
100% Completed Construction Documents.
Project Entitlements extended until October 2025. The Project is entitled to one additional 1-year time extension requiring an application to the Planning Department.
The project’s affordable housing in-lieu fee amount was established in 2020 at $8.96/s.f. vs the current in-lieu fee of $21.88/s.f.