San Ysidro Seniors Apartment
For Sale
$13,200,000
279 Padua Hills Place, San Ysidro, CA 92173
61-unit complex with ocean views in San Ysidro.
Property Size33,025 SF
Lot Size2.68 Acres
Price / SF$399.70
Days on Market123
Property Features for 279 Padua Hills Place
General Information
Standard status
Active
Size
33,025 SF
Lot size
2.68 Acres
Property subtype
Commercial
Listing Agency:
NorthMarq Multifamily
(951) 226-5454
Listed By:
Benn Vogelsang (BennVogelsang@gmail.com) · License #DRE01883437
Source:
Mrmurrieta
Added: Apr 24
Changed: Aug 23
Last Checked: Aug 24 at 7:27AM
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.
Vista Del Pacifico is a 61-unit seniors apartment complex located in San Ysidro, situated on a 116,740 square foot lot. Constructed in 1978, the stucco and frame structures encompass approximately 33,025 square feet and feature one-story units. The property offers 180-degree views of the Pacific Ocean, Tijuana, and San Ysidro. There are 40 gated parking spaces with a recently resurfaced parking lot. The complex includes multiple storage areas and a large laundry room equipped with 3 owned washers and 3 owned dryers. An onsite manager’s office and workshop are also present. The manager’s unit is a 3-bedroom, 2-bathroom unit with laundry hook-ups and an enclosed patio. There are 6 additional buildings, each containing sixty 1-bedroom, 1-bathroom units of approximately 525 square feet, equipped with gas stoves and wall heaters. Half of the units have showers, while the other half have tub/shower enclosures. All roofs were replaced in 2014, along with new gutters and drainage systems around the property. Multiple cisterns on each building collect rainwater, which is used for irrigation. The property features new fencing, landscaping, and signage, and all units have their own patio areas. The property is near markets, trolley and bus transit, the San Diego Public Library, and overlooks the San Ysidro Health Center.
Key Highlights
- 180‑degree views of the Pacific Ocean, Tijuana, and San Ysidro.
- Turnkey 61‑unit seniors apartment complex.
- Onsite manager's unit (3 Bed / 2 Bath) with laundry hookups and enclosed patio.
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 - 61-unit complex with ocean views in San Ysidro.
Where is this apartment building located?
The property is located at 279 Padua Hills Place San Ysidro, 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: 180‑degree views of the Pacific Ocean, Tijuana, and San Ysidro.; Turnkey 61‑unit seniors apartment complex.; Onsite manager's unit (3 Bed / 2 Bath) with laundry hookups and enclosed patio.
