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$5,000,000
991 Postal Way, Vista, CA 92083
0 Beds
0 Baths
n/a SqFt

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20 Unit Garden Style Apartments located on a hill above the valley in Vista, CA. Perfect opportunity to Add Value by renovating the units and bringing rents to market. Rents are 30% below nearby renovated units. The 2 most recent turns were lightly upgraded and 2BR leases signed for $2,020/month. Continuing with this the property should generate well over a 5% cap rate. Ownership has spent almost $200,000 in recent years replacing most of the decks, placing a new roof and renovating 5 of the units. There are 14 carports and 5 tuck under parking spaces that could be converted to garages and/or dwelling units. In addition the new owner could initiate a utility reimbursement system to increase the NOI. Increased zoning and density may also allow up to 4 ADUs.
  • Price:
  • $5,000,000
  • Acreage:
  • 0.92
  • Listing ID #:
  • 220024840SD
  • Street Address:
  • 991 Postal Way
  • City:
  • Vista
  • State:
  • California
  • Postal Code:
  • 92083
  • County:
  • San Diego
  • Community:
  • Vista
  • Listing Status:
  • Pending
  • Listing Type:
  • Commercial Sale
  • Construction Description:
  • Block, Stucco
  • Number Of Units:
  • 20
  • Total # Of Buildings:
  • 3
  • Net Operating Income:
  • 139590
  • Operating Expense:
  • 140034
  • Conforms To Zoning:
  • R-3r
  • Lot Size:
  • 40075
  • Lot Square Footage:
  • 40075
  • Days On Market:
  • 66
  • On Market Date:
  • 2022-09-30
  • Originating Mls:
  • Crmls
  • Carport Present:
  • Yes
  • Number Of Carport Spaces:
  • 20
  • Parking Spaces:
  • 40
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • Listing Agent Thomas McCartin with Marcus & Millichap
  • CACRMLS

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