274 Twin Oaks Ave - Apartments FOR SALE


Chula Vista, CA 91910- Downtown Chula Vista
$2,750,000 USD
415-250-4947
274 Twin Oaks Ave, Chula Vista, CA for Sale
$2,750,000 USD
Apartments - FOR SALE
1/10
null | 5.28% Cap Rate

274 Twin Oaks Ave
Chula Vista, CA 91910
Downtown Chula Vista


HIGHLIGHTS

  • Market 6.66% Cap Rate & 10.3 GRM
  • 12 Parking Spaces, Patio Space & Onsite Laundry
  • Interior & Exterior Upgrades

OVERVIEW

The Twin Oaks Terrace Apartments feature 10 units in a 6,380 square foot structure built in 1971 on a 13,329 square foot lot. The unit mix consists of two 2 Bedroom / 1 Bathroom units and eight 1 bedroom / 1 bathroom units. The property features a gated courtyard with a picnic area, common laundry facilities and 12 parking spaces at the rear of the property. Many units have been remodeled and the owner bills back utilities. Chula Vista is Spanish for “beautiful view’ due to its close proximity to the coast. It is the second largest city with a population of 274,295 in the San Diego Metropolitan area, seventh largest city in Southern California and the fourteenth largest city in the state of California. Located only 7.5 miles to Downtown San Diego and only 7.5 miles to the Mexican border, the city of Chula Vista is located right in the center of one of the richest economic and culturally diverse zones in the United States. At the center of Chula Vista lies a pedestrian friendly central business district referred to as Main Street. Main Street (3rd Avenue between H Street & E Street) is host to great restaurants, coffee shops, breweries, up and coming nightlife, live attractions, a weekly farmers market, and boutique small business shopping. The Chula Vista Bayfront Project is a 535 acre large-scale waterfront development right in the heart of South Bay in Southern San Diego County. The project officially broke ground in September 2019 and will reshape the landscape with a master plan to include Retail, Office, Hospitality, Residential, Recreational, Pedestrian and Open Space components including Harbor and Sweetwater Parks. The Bayfront Master Plan includes 100 acres of parks, 120 acres of open space, habitat replacement, ecological buffers and wetlands, as well as a shoreline promenade with walking and bicycle path trail networks. Construction will include 2,850 hotel rooms, 600,000 SF of retail, restaurant, and Marina support commercial as well as 220,000 SF of mixed-use recreation and marine related Office use. Complementing the commercial development will be a parking facility with up to 3,000 spaces, 1,500 residential units, and the Costa Vista RV Resort with 246 sites. Projected economic benefits include $1.3 billion for the regional economy, $11.5M in annual tax revenue, the creation of 2,200 permanent jobs, 7,000 construction jobs, and numerous indirect jobs.

FOR SALE DETAILS

PRICE

$2,750,000 USD

PRICE/SF

$431 USD /SF

# OF UNITS

10

PRICE/UNIT

$275,000

CAP RATE

5.28%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Twin Oaks Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1969

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,504 SF

ZONING

3

APN/PARCEL ID

568-163-19

ASK ABOUT THIS PROPERTY

Benn VogelsangNorthmarqMore Info
415-250-4947

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Benn VogelsangNorthmarqMore Info
415-250-4947

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.