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1135 S Santa Fe Ave

Vista, CA 92083
  • $1,599,000
  • STATUS: ACTIVE
  • ON SITE: 22 Days
  • ID#: 240024807
$1,599,000
  • 3
    BEDS
  • 0.6
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Please to present 1135 S Santa Fe Avenue, an underdeveloped 8-unit multifamily property with very strong rent upside located less than a half mile from a very active Opportunity Zone in Vista, CA. The property consists of seven (7) cozy cottage-style 1bd/1ba units and one (1) detached 2bd/1ba unit, with most of them having private fenced-in yards. There is ample onsite parking with fourteen (14) open spaces and two (2) covered stalls. The units are located on a 26,136 SF parcel with zoning that allows for an additional five (5) units onsite “by-right”, and includes a massive central courtyard providing ample space for accommodating the additional units. Due to prior and upcoming General Plan updates, the area surrounding the property (i.e. within 1 mile of the Opportunity Zone) has become a hotbed for redevelopment – with four projects averaging more than 70-units/acre recently being delivered and more than two-dozen other projects currently in the pipeline. The property’s location also places it within a 15-minute drive to the beach as well as major employment and education centers such as Camp Pendleton to the west, California State University San Marcos to the east and the regionally significant Palomar Airport Road employment corridor to the south. 1135 S Santa Fe Avenue is an ideal investment for a seasoned operator seeking an asset with immediate rent upside and long-term redevelopment potential, and/or a first-time multifamily investor looking for a project with strong cashflows at an entry-level price point.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.redtreerealty.com/homes/156907539
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1135 S Santa Fe Ave Vista, CA 92083

  • Price: $1,599,000
  • Status: ACTIVE
  • On Site: 22 Days
  • ID#: 240024807
3
Beds
2
Baths
0
½ Baths
0.6
Acres
Neighborhood:
Vista (92083)
County:
San Diego
Area:
Vista (92083)
Property Description
Please to present 1135 S Santa Fe Avenue, an underdeveloped 8-unit multifamily property with very strong rent upside located less than a half mile from a very active Opportunity Zone in Vista, CA. The property consists of seven (7) cozy cottage-style 1bd/1ba units and one (1) detached 2bd/1ba unit, with most of them having private fenced-in yards. There is ample onsite parking with fourteen (14) open spaces and two (2) covered stalls. The units are located on a 26,136 SF parcel with zoning that allows for an additional five (5) units onsite “by-right”, and includes a massive central courtyard providing ample space for accommodating the additional units. Due to prior and upcoming General Plan updates, the area surrounding the property (i.e. within 1 mile of the Opportunity Zone) has become a hotbed for redevelopment – with four projects averaging more than 70-units/acre recently being delivered and more than two-dozen other projects currently in the pipeline. The property’s location also places it within a 15-minute drive to the beach as well as major employment and education centers such as Camp Pendleton to the west, California State University San Marcos to the east and the regionally significant Palomar Airport Road employment corridor to the south. 1135 S Santa Fe Avenue is an ideal investment for a seasoned operator seeking an asset with immediate rent upside and long-term redevelopment potential, and/or a first-time multifamily investor looking for a project with strong cashflows at an entry-level price point.
Exterior Features

Parking Spaces Total 16

Interior Features

Sq Ft Of Improvement 2988

Property Features

Actual Cap Rate 5.53 Actual Gross Operating Income 153421 Actual Gross Scheduled Income 160483.0 Actual Operating Expense 65062 Assumable Finance 0 Buildings 5 Gross Equity 1039350 Gross Multiplier 9.96 Have eight (8) apartment units Mandatory Remarks None Known Market Area North County Motive Want partnership dissolution Projected Cap Rate 7.68 Projected Gross Multiplier 7.94 Projected Gross Operating Inc 192343 Projected Gross Scheduled Inc 201463 Projected Net Income 122872 Projected Operating Expense 69471 Unit Number1 7 Unit Number2 1 Unit Rent Total1 10085 Unit Rent Total2 1700 Unit Rent1 $1310 - $1525 Unit Rent2 $1700 Zoning M-U (21)

San Diego MLS logo Listing provided courtesy of Michael Greiner of CBRE: 808-271-5252. Listing information © 2024 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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Red Tree Realty
4138 Napier St.
San Diego CA, 92110