380 Plymouth Dr - Apartments FOR SALE


Vista, CA 92083
$11,750,000 USD
858-284-0371
380 Plymouth Dr, Vista, CA for Sale
$11,750,000 USD
Apartments - FOR SALE
1/15
null | 4.4% Cap Rate

380 Plymouth Dr
Vista, CA 92083


HIGHLIGHTS

  • FINANCING - SELLER CARRY - $7,300,000 assumable 1st trust deed with 10 years fixed, rate of 5%, interest only.
  • Significant value-add opportunity with upside in the current rents.
  • 1986 Built
  • Recent CAPX includes Roof underlayment replacement, balcony work, removal of swimming pool , updated security systems in 2021-22
  • Easy tenant profile, no deferred maintenance

OVERVIEW

BridgePoint Realty, Inc is proud to present Plymouth Heights in VISTA , a truly one-of-a-kind apartment community built in 1986 with condo specs and spectacular foresight in site design and parking allotment. The 63,000 SF flag lot hosts 32 apartment units , 32 covered carports , and an additional 19 open parking spaces. The current unit mix consists of (19) spacious two bedroom / two bath units , and (13) generously spacious one bedroom / one bath units. Considering the current rentable square footage of 750-950 SF per unit and availability for installation of in-unit washer dryers there is a tremendous amount of upside to capture for future investor. Furthermore , this deal comes with very attractive private note financing : $7,300,000 assumable 1st trust deed with 10 years remaining on a fixed and interest only rate of 5%. INTEREST ONLY Since its construction in 1986 the property has been meticulously maintained and cared for, which is evident by tenants who feel a sense of community and tend to stay long term. Recently, major systems upgrades include but are not limited to resealing of balconies and installation of new Roof underlayment and new tiles and the removal of a pool which saves a tremendous amount of water plus removes the liability for reduced insurance premiums.

FOR SALE DETAILS

PRICE

$11,750,000 USD

PRICE/SF

$381 USD /SF

# OF UNITS

32

PRICE/UNIT

$367,188

CAP RATE

4.4%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Plymouth Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1986

PARKING SPACES

51

LAND DETAILS

LAND ACRES

1.45 AC

LAND SF

63,162 SF

ZONING

3

APN/PARCEL ID

163-280-28

ASK ABOUT THIS PROPERTY

Abe PeayBridgePoint Realty, INCMore Info
858-284-0371

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Abe PeayBridgePoint Realty, INCMore Info
858-284-0371

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