467-475 N Melrose Dr - Apartments FOR SALE


Vista, CA 92083
$1,295,000 USD
858-247-1095
467-475 N Melrose Dr, Vista, CA for Sale
$1,295,000 USD
Apartments - FOR SALE
1/6
null | 5% Cap Rate

467-475 N Melrose Dr
Vista, CA 92083


HIGHLIGHTS

  • Prime Vista Location on N Melrose Across from Vista Focus Academy
  • Great Unit Mix: Three (3) 1Bed / 1Bath + Two (2) 2Bed / 1Bath
  • 4 Units (+1 Nonconforming 5th Unit)
  • Value Add Opportunity: Approx. 37% Upside in Rents
  • Large, Fully Gated 11,507sf Lot
  • Plenty of Off Street Parking: Eight (8) Spaces

OVERVIEW

Located in one of San Diego’s strongest rental markets, this value-add property consists of three (3) 1Bedroom / 1Bathroom units and two (2) 2Bedroom / 1Bathroom Units, which sits on a large 11,507sf parcel with eight (8) off-street parking spots. With 37% upside in rental income, this asset is primed for a new owner to take this property to the next level. With tenants paying all utility expenses, this is a high income / low expense opportunity located across the street from Vista Focus Academy and less than 1 mile to both Vista Village and CA-78.

FOR SALE DETAILS

PRICE

$1,295,000 USD

PRICE/SF

$357 USD /SF

# OF UNITS

5

PRICE/UNIT

$259,000

CAP RATE

5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Value-Add, 7.2% Proforma CAP

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1959

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,507 SF

ZONING

-

APN/PARCEL ID

163-470-11

ASK ABOUT THIS PROPERTY

Angelo La BrunaApartment Realty Group (ARG)More Info
858-247-1095

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

Angelo La BrunaApartment Realty Group (ARG)More Info
858-247-1095

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