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    Property profile & analytics

    711 Franklin Ln Vista, CA 92084-5150

    • Apartment buildings
    • 10,915 SF
    • 0.66 lot acres
    OFF-MARKET
    Last Sale
    Jul 25, 2024
    $1,755,500
    Value Estimations
    $1,875,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-9682393
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 711 Franklin Ln

    Year built
    1986
    Lot size
    0.66 lot acres
    Property size
    10,915 SF
    Zone code
    R-3:RESTRICTED MULTIPLE
    Property type
    Apartment buildings
    APN
    175-173-43-00
    APU
    1751734300

    Description

    This 10-unit apartment building, located at 711 Franklin Ln, Vista, CA 92084, presents a compelling investment opportunity. Built in 1986, the property boasts 10,915 square feet on a 5,469 square foot lot and features ten spacious two-bedroom, two-bathroom units, each approximately 1090 square feet, complete with patios/balconies, a garage, and dedicated storage and parking spaces. The property currently generates a Net Operating Income (NOI) of $145,186, representing a 4.28% cap rate. A pro-forma NOI of $200,127 projects a 5.89% cap rate, indicating significant upside potential. Each unit is priced at $339,500, and the asking price for the entire complex is $3,395,000. The property includes an on-site, coin-operated laundry facility, providing additional revenue. Recent capital improvements include new electrical sub-panels in every unit. The property is zoned SPI and currently has an existing loan with Chase Bank at 3.52% interest, with a balance of approximately $1,450,000, set to adjust in late 2026. The complex is primarily occupied by long-term tenants, suggesting further rental growth opportunities. This property offers a strong value-add proposition for investors seeking a stable income stream with significant upside potential in the desirable Vista, California market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,115,000
      Current use
      WAREHOUSE, STORAGE
      $3,095,000
      Change: -1% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Vista
    County
    San Diego
    State
    California
    Longitude
    -117.237
    Latitude
    33.2079
    CBSA code
    41740
    CBSA name
    SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $32,990
    $1,365,392
    $1,194,718
    $2,560,110
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $615,000
      1.46 Acres

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      APARTMENT HOUSE (5+ UNITS) • 1.46 Acres
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      View Details
    • Value Estimation
      $2,405,000
      13,312 SF

      1280 Citrus Ave

      APARTMENT HOUSE (5+ UNITS) • 13,312 SF
      1280 Citrus Ave, Vista, CA 92084-4381
      View Details
    • Value Estimation
      $915,000
      5,024 SF

      1021 Citrus Ave, Unit 23

      APARTMENT HOUSE (5+ UNITS) • 5,024 SF
      1021 Citrus Ave, Vista, CA 92084-4359
      View Details
    • Value Estimation by Request
      1.08 Acres

      2101 Santa Fe Ave

      APARTMENT HOUSE (5+ UNITS) • 1.08 Acres
      2101 Santa Fe Ave, Vista, CA 92084-7803
      View Details
    • Value Estimation
      $2,790,000
      14,592 SF

      264 Avalon Dr

      APARTMENT HOUSE (5+ UNITS) • 14,592 SF
      264 Avalon Dr, Vista, CA 92084-5569
      View Details
    • Value Estimation by Request
      0.93 Acres

      1410 Bonair Rd

      APARTMENT HOUSE (5+ UNITS) • 0.93 Acres
      1410 Bonair Rd, Vista, CA 92084-4117
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Vista Mixed-Use Development

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      Vista Mixed-Use Development Opportunity

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    • New
      $869,000
      1,808 SF

      Vista Duplex: Investment Opportunity

      Duplex in Vista with updated unit and tenant-occupied unit.
      627-629 N Citrus Ave, Vista, CA 92084
      View Details
    • New
      $899,000
      1,936 SF

      Vista Duplex with View

      Duplex in Vista with flexible layout and desirable location.
      221-23 Ardys Pl, Vista, CA 92084
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    • $1,587,500
      Pending

      Vista Multifamily Investment Opportunity

      Four-unit apartment community in Vista, California with value-add potential.
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      View Details

    Similar Nearby for Lease

    • $1.25 SF/Yr

      Medical/Professional Office Suites Available

      Medical/professional office suites for lease with flexible layouts.
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      3,275 SF

      Vista Retail Space For Lease

      Prime Vista restaurant space, multiple suites available.
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      View Details
    • $1.85 SF/Yr
      2,039 SF

      Retail Space in Downtown Vista

      Retail space for lease in a mixed-use development.
      325 S Santa Fe Ave, Vista, CA 92084
      View Details
    • Contact for pricing

      Commercial Building Ready For Rent

      Commercial building with high traffic exposure, suitable for various businesses.
      626 Civic Center Dr, Vista, CA 92084
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail property available for lease with 5728 square feet.
      1040 E Vista Way, Vista, CA 92084
      View Details
    • Contact for pricing

      Commercial Building with High Traffic Exposure

      Commercial building with upgrades, high traffic exposure, and parking.
      626 Civic Center Dr, Vista, CA 92084
      View Details
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    Vista, CA 92084-5150
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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