Renovated Multifamily Apartment
For Sale
Contact for pricing
322 Hillside Terrace, Vista, CA 92084
32-unit Vista apartment property with extensive interior renovations, private patios or balconies, and gated access.
Property Size27,232 SF
Price / SF$339.67
Days on Market121
Property Features for 322 Hillside Terrace
General Information
Standard status
Active
Size
27,232 SF
Class
B
Total Parking Spaces
50
Property subtype
Retail, Multifamily
Zoning
R-3 Multifamily
Occupancy
90%
Investment Type
Stabilized
Net Operating Income
$490,897
Additional Details
Business Included
Yes
Multifamily Units
32
Building Details
Year Built
1988
Year Renovated
2018
Buildings
4
Units
32
Tenancy
Multi
Listing Agency:
TWG Commercial - The Weddle Group
Listed By:
Gary Weddle · License #01919292
(858) 729-4646
Source:
Crexi
Added: Jun 17
Changed: Oct 15
Last Checked: Oct 14 at 10:10PM
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 TWG Commercial - The Weddle Group
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Investment Insights
Based on property information with market context.
Hillside Terrace Apartments is a 32-unit multifamily community constructed in 1988. Approximately 85% of the unit interiors were comprehensively renovated in 2018, including modern kitchens with stainless steel appliances, quartz countertops, renovated bathrooms, and durable vinyl plank flooring. The unit mix includes twenty-four two-bedroom, two-bath apartments and eight one-bedroom, one-bath apartments, and each residence features a private patio or balcony with an individual storage closet. Common areas have also been updated with a renovated outdoor setting that includes barbecue stations, shaded patio dining, a quartz-topped fire pit gathering space, and professionally landscaped grounds.
The property is located at 322 Hillside Terrace in Vista, California, within walking distance of Downtown Vista and Paseo Santa Fe, which completed a full revitalization in 2020. Residents can also access a variety of restaurants, retail, breweries, and entertainment venues in the surrounding North County San Diego urban district.
This community offers an established residential income asset format with multiple unit types and in-unit outdoor space. On-site amenities include a modern laundry facility, ample parking, and controlled gated access, supporting day-to-day convenience for residents. The renovated interiors and updated common areas provide a practical foundation for continued operation as a multi-family housing property.
The property is located at 322 Hillside Terrace in Vista, California, within walking distance of Downtown Vista and Paseo Santa Fe, which completed a full revitalization in 2020. Residents can also access a variety of restaurants, retail, breweries, and entertainment venues in the surrounding North County San Diego urban district.
This community offers an established residential income asset format with multiple unit types and in-unit outdoor space. On-site amenities include a modern laundry facility, ample parking, and controlled gated access, supporting day-to-day convenience for residents. The renovated interiors and updated common areas provide a practical foundation for continued operation as a multi-family housing property.
Key Highlights
- 32‑unit multifamily community at 322 Hillside Terrace in Vista, built in 1988.
- Approximately 85% of unit interiors renovated in 2018 with modern kitchens, stainless steel appliances, quartz countertops, renovated bathrooms, and vinyl plank flooring.
- Unit mix includes 24 two‑bedroom, two‑bath units and 8 one‑bedroom, one‑bath units.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$452,473
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,049,460
$9.0M
Cap Rate 7%
$6,463,900
$6.5M
Cap Rate 9%
$5,027,478
$5.0M
Market Conditions
NOI Build-Up for 27,232 SF
Gross rent
$866.0K $31.80/SF
− Vacancy
−$43.3K −$1.59/SF
EGI
$822.7K $30.21/SF
− OpEx
−$370.2K −$13.59/SF
NOI
$452.5K $16.62/SF
Area
San Diego County, CA
Vacancy
5.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,049,460
Cap Rate 7%
$6,463,900
Cap Rate 9%
$5,027,478
Alternative Uses
Best Use
Apartment 5plus
$6.46M
$5.66M – $7.54M
NOI $452,473 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.48M
$10.92M – $14.56M
NOI $873,376 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
32
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,662
Businesses Nearby
Explore this area
Business Placement
Demographics for 92084, CA
49,941
Population
15,712
Households
3.2
Avg Household Size
37
Median Age
27%
College-Educated
83%
High-School Grad
28.3 sq mi
ZIP Area
1,765
Density / Sq Mi
$97,410
Median Household Income
$42,000
Median Earnings
$1,936
Median Rent
$745,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - 32-unit Vista apartment property with extensive interior renovations, private patios or balconies, and gated access.
Where is this apartment building located?
The property is located at 322 Hillside Terrace Vista, CA.
What is the asking price?
The asking price for this property is $9,250,000.
What are key features of this property?
This property features: 32‑unit multifamily community at 322 Hillside Terrace in Vista, built in 1988.; Approximately 85% of unit interiors renovated in 2018 with modern kitchens, stainless steel appliances, quartz countertops, renovated bathrooms, and vinyl plank flooring.; Unit mix includes 24 two‑bedroom, two‑bath units and 8 one‑bedroom, one‑bath units.
