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Meadowlake Apartment Homes - High Cap Rate 1051 Meadow Lake Dr 8 Unit Apartment Building $3,175,000 ($396,875/Unit) 5.33% Cap Rate Vista, CA 92084
INVESTMENT HIGHLIGHTS
- High 5.33% Cap Rate (6.07% Proforma)
- Garages for each and every unit
- Very low cost per square foot
- Large 2 Bedroom/2 Bath Units - 1,116 sq.ft each
- (2) APNs qualifies for Residential or Commercial Financing
- Prime location near Brengle Terrace Park
EXECUTIVE SUMMARY
DP Properties is pleased to offer for sale the opportunity to acquire the Meadowlake Apartment Homes, an 8 unit apartment community in Vista CA. Built on 2 parcels, each 4 plex consists of all large 1,116 sq.ft. Two Bedroom/Two Bath units. Each apartment home has a garage, an additional dedicated parking space, and back patio. Three (3) of the units have been fully renovated and have achieved market rent. The other five (5) units are poised for rehabilitation for value-add or keep as they are with continued rent growth.
These feel like small homes rather than apartments. Draught resistant landscape keeps the expenses low. Laundry room provides additional income as well. High cashflow property in an excellent location!
These feel like small homes rather than apartments. Draught resistant landscape keeps the expenses low. Laundry room provides additional income as well. High cashflow property in an excellent location!
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$253,968
|
$28.45
|
| Other Income |
$2,400
|
$0.27
|
| Vacancy Loss |
$7,619
|
$0.85
|
| Effective Gross Income |
$248,749
|
$27.86
|
| Taxes |
$34,290
|
$3.84
|
| Operating Expenses |
$44,573
|
$4.99
|
| Total Expenses |
$78,863
|
$8.83
|
| Net Operating Income |
$169,886
|
$19.03
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $253,968 |
| Annual Per SF | $28.45 |
| Other Income | |
|---|---|
| Annual | $2,400 |
| Annual Per SF | $0.27 |
| Vacancy Loss | |
|---|---|
| Annual | $7,619 |
| Annual Per SF | $0.85 |
| Effective Gross Income | |
|---|---|
| Annual | $248,749 |
| Annual Per SF | $27.86 |
| Taxes | |
|---|---|
| Annual | $34,290 |
| Annual Per SF | $3.84 |
| Operating Expenses | |
|---|---|
| Annual | $44,573 |
| Annual Per SF | $4.99 |
| Total Expenses | |
|---|---|
| Annual | $78,863 |
| Annual Per SF | $8.83 |
| Net Operating Income | |
|---|---|
| Annual | $169,886 |
| Annual Per SF | $19.03 |
PROPERTY FACTS In Escrow
| Price | $3,175,000 | Apartment Style | Low-Rise |
| Price Per Unit | $396,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.63 AC |
| Cap Rate | 5.33% | Building Size | 8,928 SF |
| Gross Rent Multiplier | 12.5 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 0.9/1,000 SF |
| Zoning | RM20, Vista - Multi-Family | ||
| Price | $3,175,000 |
| Price Per Unit | $396,875 |
| Sale Type | Investment |
| Cap Rate | 5.33% |
| Gross Rent Multiplier | 12.5 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.63 AC |
| Building Size | 8,928 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1968 |
| Parking Ratio | 0.9/1,000 SF |
| Zoning | RM20, Vista - Multi-Family |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Disposal
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Sprinkler System
- Stainless Steel Appliances
- Range
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 8 | $2,900 | 1,116 |
1 1
Walk Score®
Very Walkable (75)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $2,483,226 (2025) | |
| Land Assessment | $1,910,174 (2025) | Annual Taxes | $34,290 ($3.84/SF) |
| Improvements Assessment | $573,052 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,910,174 (2025)
Improvements Assessment
$573,052 (2025)
Total Assessment
$2,483,226 (2025)
Annual Taxes
$34,290 ($3.84/SF)
Tax Year
2024
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Meadowlake Apartment Homes - High Cap Rate | 1051 Meadow Lake Dr
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