380 Plymouth Dr Vista, CA 92083

27,168 SF 1.45 ac lot Built 1986

Entity Owned 3-yr Hold Absentee Owner ~ Est. High Equity

Property ID

US09-9671389

$11,750,000 27,168 SF

380 Plymouth Dr, Vista, CA 92083
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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.