San Ysidro Senior Apartment
For Sale
$13,200,000
279-291 Padua Hills Place, San Diego, CA 92173
Two turnkey senior apartment complexes in San Ysidro, San Diego.
Property Size33,025 SF
Lot Size3.52 Acres
Price / SF$399.70
Days on Market279
Property Features for 279-291 Padua Hills Place
General Information
Standard status
Active
Size
33,025 SF
Lot size
3.52 Acres
Property subtype
Commercial-Res Income / Com-Res Income
Amenities
1
62.0
62
63
7
Listing Agency:
NorthMarq Multifamily
(415) 250-4947
Listed By:
Benn Vogelsang · License #01883437
(415) 250-4947
Source:
Compass
Added: Nov 18, 2025
Changed: Aug 23
Last Checked: Aug 21 at 6:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NorthMarq Multifamily
Investment Insights
Based on property information with market context.
Two senior apartment complexes in San Ysidro are available. The first, Vista del Rio, is a 33-unit complex situated on a 30,492 square foot lot. Constructed in 1987, the approximately 18,400 square feet of stucco and frame structures feature two stories with pitched roofs. The property includes 21 parking spaces with a recently resurfaced parking lot, multiple storage areas, a large laundry room with 3 washers and 3 dryers, and an onsite manager’s office and workshop. New fencing, landscaping, and signage have been installed, and all units have their own patio areas. The complex is close to markets, trolley/bus lines, the San Diego Public Library, and the San Ysidro Health Center. The second complex, Vista Del Pacifico, is a 61-unit complex situated on a 116,740 square foot lot with views of the Pacific Ocean, Tijuana, and San Ysidro. Built in 1978, the approximately 33,025 square feet of stucco and frame structures consist of one-story units. There are 40 gated parking spaces with a recently resurfaced parking lot, multiple storage areas, a large laundry room with 3 owned washers and 3 owned dryers, and 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 drainage. Multiple cisterns on each building collect rainwater for irrigation. New fencing, landscaping, and signage have been installed, and all units have their own patio areas. It is close to markets, trolley and bus transit, San Diego Public Library, and overlooks the San Ysidro Health Center. Both are turnkey assets for investors.
Key Highlights
- Turnkey asset for investors, immediate income potential.
- Two senior apartment complexes totaling 94 units in San Ysidro.
- Recently resurfaced parking lots and new fencing, landscaping, and signage.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$545,839
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$10,916,780
$10.9M
Cap Rate 7%
$7,797,700
$7.8M
Cap Rate 9%
$6,064,878
$6.1M
Market Conditions
NOI Build-Up for 33,025 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.05M $31.80/SF
− Vacancy
−$57.8K −$1.75/SF
EGI
$992.4K $30.05/SF
− OpEx
−$446.6K −$13.52/SF
NOI
$545.8K $16.53/SF
Area
San Diego, CA
Vacancy
5.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$10,916,780
Cap Rate 7%
$7,797,700
Cap Rate 9%
$6,064,878
Alternative Uses
Best Use
Apartment 5plus
$7.80M
$6.82M – $9.10M
NOI $545,839 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$13.04M
$11.41M – $15.22M
NOI $913,075 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
931
Businesses Nearby
Explore this area
Business Placement
Demographics for 92173, CA
29,703
Population
8,190
Households
3.6
Avg Household Size
33
Median Age
11%
College-Educated
63%
High-School Grad
2.9 sq mi
ZIP Area
10,242
Density / Sq Mi
$65,865
Median Household Income
$34,734
Median Earnings
$1,588
Median Rent
$521,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two turnkey senior apartment complexes in San Ysidro, San Diego.
Where is this apartment building located?
The property is located at 279-291 Padua Hills Place San Diego, CA.
What is the asking price?
The asking price for this property is $13,200,000.
What are key features of this property?
This property features: Turnkey asset for investors, immediate income potential.; Two senior apartment complexes totaling 94 units in San Ysidro.; Recently resurfaced parking lots and new fencing, landscaping, and signage.
