380 Plymouth Dr Vista, CA 92083-4889
- Apartment buildings
- 27,168 SF
- 1.45 lot acres
Current Use by Public Records
- Plymouth Drive Apartments / Apartment Building
Property Details for 380 Plymouth Dr
- Year built
- 1986
- Lot size
- 1.45 lot acres
- Property size
- 27,168 SF
- Zone code
- R-3:RESTRICTED MULTIPLE
- Property type
- Apartment buildings
- APN
- 163-280-28-00
- APU
- 1632802800
Description
This exceptional 32-unit apartment building in Vista, California, presents a compelling investment opportunity. Boasting 27,168 square feet on a 63,162 square foot lot, the property features a mix of 19 two-bedroom, two-bathroom units (950 sq ft each) and 13 one-bedroom, one-bathroom units (750 sq ft each). Built in 1986, the complex includes 32 covered carports and 19 open parking spaces. Recent upgrades include balcony maintenance and resealing, and new roof underlayment. The property currently benefits from a significant value-add potential due to below-market rents on mostly month-to-month leases. The asking price is $12,500,000, representing $390,625 per unit and $460.10 per square foot. The current Net Operating Income (NOI) is $421,834, yielding a 3.37% cap rate, while the pro-forma NOI is projected at $695,019, resulting in a 5.56% pro-forma cap rate. Conveniently located a short walk from Vista's restaurants and shops, and a 15-minute drive to local beaches via I-78, this property offers strong potential for immediate and long-term returns. The property's excellent condition and prime location make it an attractive investment for discerning buyers.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $9,225,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $9,455,000
- 6.5%
- $10,160,000
- 7%
- $9,720,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $9,195,000
- Geo Method
- $11,140,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $11,820,000
- Retail
- $10,560,000
- Mixed-Use
- $10,685,000
- Hospitality
- $10,580,000
- Educational
- $8,910,000
- Residential Income
- $8,875,000
- Energy
- $8,950,000
- Income-Based Land
- $11,990,000
- Food Service
- $10,080,000
Location Insight
- Map
- Local Demand
- City
- Vista
- County
- San Diego
- State
- California
- Longitude
- -117.252
- Latitude
- 33.2033
- CBSA code
- 41740
- CBSA name
- SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA