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30064712
30064713

279-291 Padua Hills Pl, San Diego, CA 92173

BV
CA DRE 01883437
NorthMarq - San Diego
Listed by NorthMarq - San Diego
$20,500,000
92 days on market
Updated 69 days ago

94 Unit Portfolio

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 53,617
Net Rentable (SqFt) 53,617
Units 94
Cap Rate 6.61%
NOI $1,354,714
Occupancy 100%
Pro-Forma Cap Rate 6.91%
Pro-Forma NOI $1,415,718
Price per SqFt $382
Class C
Year Built 1978-87
Buildings 8
Stories 2
Lot Size (SqFt) 147,232
Parking Spaces 61 spaces
Parking Per SqFt 1.14
Investment Type Stabilized

Turnkey Current 6.5% Cap Rate

Marketing description

Vista del Rio is a 33-unit seniors apartment complex situated on a 30,492 square foot lot in San Ysidro. The approximately 18,400 square feet of stucco and frame structures were built in 1987 and feature two stories with pitched roofs. There are 21 parking spaces with a recently resurfaced parking lot. There are multiple storage areas, a large laundry room with 3 washers and 3 dryers as well as an onsite manager’s office and workshop. There is new fencing, landscaping, and signage. All units have their own patio areas. This is a turnkey asset for an investor. Close to markets, trolley/bus, San Diego Public Library, and the San Ysidro Health Center. DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS.

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.

Listing Contacts

BV
CA DRE 01883437
NorthMarq - San Diego
Listed by NorthMarq - San Diego

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$1,354,714.00
$112,892.83/mo

Valuation Metrics

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DSCR
6.61%
Cap Rate
6.61%
ROI

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