Irvine, Calif.-based Bascom Group LLC has purchased Raintree Apartments, a 136-unit complex in Oceanside, Calif., for $9.5 million. Oceanside Raintree Apartment Limited Partnership was the seller of the property. San Diego-based Business Real EstateCo./NAI represented the buyer, while the sellers represented themselves.
The complex was built in 1978 and features 68 one-bedroom units and 68 two-bedroom units. The one-bedroom apartments average approximately 800 sq. ft. in size, while the two-bedroom units average around 1,000 sq. ft. Each unit has either a patio or a balcony. Raintree has a pool, a racquetball court, a playground and two laundry rooms.