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Oceanside Apartments Bring $9.45 Mil

OCEANSIDE--The Oceanside Raintree Apartments, a 136-unit comunity, has been sold for $9.45 million.

By Randyl J. Drummer | Updated on October 04, 2000

OCEANSIDE–The sale of a 136-unit apartment complex here for $9.45 million is further evidence that San Diego’s torrid rental market has spread countywide.

The Bascom Group LLC, headed by managing directors Jerome Fink and David Kim, bought the Raintree Apartments at 3699 Bernard Dr. fromOceanside Raintree Apartment LP, a partnership headed by Donald Chandler and Robin Hemingway. The property, which is located on 11 acres, was built in 1978 and consists of 68 one-bedroom units and 68 two-bedroom units. The facility has a pool, spa, racquetball, tennis and volleyball courts and other amenities.

The buyers were represented by Diane Miramontes of the San Diego office of Business Real Estate Brokerage Co. The sellers represented their own interests.

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