279 Padua Hills Pl - Apartments FOR SALE


San Ysidro, CA 92173
$13,200,000 USD
415-250-4947
279 Padua Hills Pl, San Ysidro, CA for Sale
$13,200,000 USD
Apartments - FOR SALE
1/46
null | 6.26% Cap Rate

279 Padua Hills Pl
San Ysidro, CA 92173


HIGHLIGHTS

  • Onsite Office, Storage, Workshop & Common Areas
  • 116,740 Square Foot Lot with Ocean Views
  • All Single Story Units with Patios; Common Laundry Room
  • Current 9.9 GRM & 6.26% Cap Rate

OVERVIEW

Vista Del Pacifico is a 61-unit seniors apartment complex situated on a 116,740 square foot lot in San Ysidro with 180 degree views of the Pacific Ocean, Tijuana and San Ysidro. The approximately 33,025 square feet of stucco and frame structures were built in 1978 and feature one story units. There are 40 gated parking spaces with a recently resurfaced parking lot. There are multiple storage areas, a large laundry room with 3 owned washers and 3 owned dryers as well as an onsite manager’s office and workshop. The onsite manager’s unit is a 3 Bedroom / 2 Bathroom unit with laundry hook ups and an enclosed patio. There are 6 additional buildings consisting of sixty, approximately 525 square foot 1 Bedroom / 1 Bathroom units with gas stoves and wall heaters. Half of the units have showers and half of the units have tub/shower enclosures. All roofs were replaced in 2014 along with new gutters and new drainage around the property. There are multiple cisterns on each building that collect rainwater at each structure which is used to irrigate the property. There is new fencing, landscaping, and signage. All units have their own patio areas. This is a turnkey asset for an investor. It is close to markets, trolley and bus transit, San Diego Public Library, and overlooks the San Ysidro Health Center. DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS. San Ysidro, California, presents a high-value opportunity for investors and developers due to its strategic location and increasing demand for housing. The area experiences some of the highest pedestrian and vehicular traffic in the country, driven by the San Ysidro and Otay Mesa Ports of Entry, making it a prime location. The nearby Southwest Village Specific Plan, an approved blueprint for mixed- use growth, further reinforces San Ysidro’s future as a desirable growing market. Given its transit connectivity, including the San Ysidro Transit Center, the area is also well-suited for transit-oriented development (TOD), providing further incentives for investment. San Ysidro is a neighborhood located in the southern most part of San Diego, California. It is situated just north of the U.S./Mexico border and is known for its proximity to one of the busiest land borders crossing in the world. Historically, San Ysidro has been a vibrant community with strong ties to Mexican heritage and has served as an important gateway between the United States and Mexico. The area is known for its bustling street life and vibrant atmosphere, ultimately offering a favorable blend of residential, commercial and industrial areas. Overall, San Ysidro is a dynamic and diverse neighborhood, deeply influenced by its proximity to the border and the constant flow of people moving between the two countries for various reasons including work, shopping and visiting family. The Port of San Diego and the San Diego International Airport are about a 20–25-minute drive. The California Multimodal—Chula Vista Railroad system is less than a 10-minute drive. The Coaster Commuter Rail serves the encompassing community, as does the San Diego Metro Trolly Transit System. It is close to I-5 and I-805, providing easy connectivity to downtown San Diego and beyond.

FOR SALE DETAILS

PRICE

$13,200,000 USD

PRICE/SF

$375 USD /SF

# OF UNITS

61

PRICE/UNIT

$216,393

CAP RATE

6.26%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Vista del Pacifico

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1978

PARKING SPACES

40

LAND DETAILS

LAND ACRES

2.68 AC

LAND SF

116,741 SF

ZONING

2

APN/PARCEL ID

638-190-31

ASK ABOUT THIS PROPERTY

Benn VogelsangNorthmarqMore Info
415-250-4947

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Benn VogelsangNorthmarqMore Info
415-250-4947

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