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Vista Glen Apartments 714 Franklin Ln 18 Unit Apartment Building $5,500,000 ($305,556/Unit) 4.92% Cap Rate Vista, CA 92084
INVESTMENT HIGHLIGHTS
- Assumable Financing
- Below Market Rents
- Extra Land/ADU Possible
EXECUTIVE SUMMARY
The Vista Glen Apartments offers a great unit mix with 15 Two-Bedrooms, 1 Three-Bedroom, and 2 One Bedroom units for a total of 17 units plus 1 non-conforming. Approximately 5,756 square feet of additional land provides ADU possibilities. The roof was replaced 3 years ago, and garages have been refurbished. Ownership has taken pride in maintaining the property. Long-term tenants have provided stability and rental upside. The City of Vista is known for its pleasant climate and proximity to the Pacific Ocean.
PROPERTY FACTS
| Price | $5,500,000 | Building Class | C |
| Price Per Unit | $305,556 | Lot Size | 0.79 AC |
| Sale Type | Investment | Building Size | 39,057 SF |
| Cap Rate | 4.92% | Average Occupancy | 100% |
| Sale Condition | 1031 Exchange | No. Stories | 3 |
| No. Units | 18 | Year Built | 1984 |
| Property Type | Multifamily | Parking Ratio | 0.84/1,000 SF |
| Property Subtype | Apartment | Zoning | C-6 - Buyer to verify with the City of Vista |
| Apartment Style | Low-Rise |
| Price | $5,500,000 |
| Price Per Unit | $305,556 |
| Sale Type | Investment |
| Cap Rate | 4.92% |
| Sale Condition | 1031 Exchange |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.79 AC |
| Building Size | 39,057 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1984 |
| Parking Ratio | 0.84/1,000 SF |
| Zoning | C-6 - Buyer to verify with the City of Vista |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Walking/Biking Trails
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+2 | 16 | - | - |
| 3+2 | 1 | - | - |
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Walk Score®
Very Walkable (73)
PROPERTY TAXES
| Parcel Number | 175-370-71 | Improvements Assessment | $2,491,758 |
| Land Assessment | $1,664,640 | Total Assessment | $4,156,398 |
PROPERTY TAXES
Parcel Number
175-370-71
Land Assessment
$1,664,640
Improvements Assessment
$2,491,758
Total Assessment
$4,156,398
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Vista Glen Apartments | 714 Franklin Ln
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