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Hillside Terrace Apartments 322 Hillside Ter 32 Unit Apartment Building $9,750,000 ($304,688/Unit) 5.03% Cap Rate Vista, CA 92084



Investment Highlights
- Built in 1988 and Extensively Renovated in 2018
- Centrally Located within Walking Distance to Revitalized Downtown Vista and Paseo Santa Fe. Easy Access to Dining, Shopping & Entertainment
- Fully Remodeled Common Area with Outdoor Grilling Stations, Shaded Dining Areas, Lounges and Seated Firepit
- Priced Competitively at $35k to $71k Per Unit Less Than Current On-Market Comparables
- Strong Unit Mix of Twenty-Four Large 2bd/2bth and Eight Large 1bd/1bth Mostly Upgraded Units. All Units have Private Balconies or Patios with Storage
- Just 9 Miles from Pristine California Beaches
Executive Summary
The Weddle Group of TWG Commercial is pleased to present for sale Hillside Terrace Apartments, a
32-unit multifamily community located at 322 Hillside Terrace in the heart of Vista, California.
Constructed in 1988, the property has benefited from significant capital improvements, with
approximately 85% of the unit interiors comprehensively renovated in 2018. Upgraded residences
feature modern kitchens, stainless steel appliances, quartz countertops, renovated bathrooms, and
durable vinyl plank flooring. This offering presents investors with a compelling combination of
stable in-place income and a straightforward opportunity for continued growth.
Ideally situated within walking distance of Downtown Vista and Paseo Santa Fe which completed a
full revitalization in 2020. The property enjoys convenient access to a vibrant mix of restaurants,
retail, breweries, and entertainment venues in one of North County San Diego’s most dynamic
urban districts.
The unit mix consists of twenty-four spacious two-bedroom, two-bathroom apartments and eight
large one-bedroom, one-bathroom apartments. Each residence includes a private patio or balcony
with an individual storage closet.
Residents enjoy a thoughtfully renovated common area featuring outdoor barbecue stations,
shaded patio dining, a quartz-topped fire pit gathering space, and professionally landscaped
grounds. Additional amenities include a modern on-site laundry facility, ample parking, and
controlled gated access.
Under no circumstances should the property be entered or tenants disturbed. All inquiries and
requests for information must be directed exclusively to the listing agent, Gary Weddle.
32-unit multifamily community located at 322 Hillside Terrace in the heart of Vista, California.
Constructed in 1988, the property has benefited from significant capital improvements, with
approximately 85% of the unit interiors comprehensively renovated in 2018. Upgraded residences
feature modern kitchens, stainless steel appliances, quartz countertops, renovated bathrooms, and
durable vinyl plank flooring. This offering presents investors with a compelling combination of
stable in-place income and a straightforward opportunity for continued growth.
Ideally situated within walking distance of Downtown Vista and Paseo Santa Fe which completed a
full revitalization in 2020. The property enjoys convenient access to a vibrant mix of restaurants,
retail, breweries, and entertainment venues in one of North County San Diego’s most dynamic
urban districts.
The unit mix consists of twenty-four spacious two-bedroom, two-bathroom apartments and eight
large one-bedroom, one-bathroom apartments. Each residence includes a private patio or balcony
with an individual storage closet.
Residents enjoy a thoughtfully renovated common area featuring outdoor barbecue stations,
shaded patio dining, a quartz-topped fire pit gathering space, and professionally landscaped
grounds. Additional amenities include a modern on-site laundry facility, ample parking, and
controlled gated access.
Under no circumstances should the property be entered or tenants disturbed. All inquiries and
requests for information must be directed exclusively to the listing agent, Gary Weddle.
Property Facts
| Price | $9,750,000 | Apartment Style | Garden |
| Price Per Unit | $304,688 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.52 AC |
| Cap Rate | 5.03% | Building Size | 27,232 SF |
| Gross Rent Multiplier | 12.88 | No. Stories | 2 |
| No. Units | 32 | Year Built/Renovated | 1988/2018 |
| Property Type | Multifamily | Parking Ratio | 1.84/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R3 - R-3 Multifamily | ||
| Price | $9,750,000 |
| Price Per Unit | $304,688 |
| Sale Type | Investment |
| Cap Rate | 5.03% |
| Gross Rent Multiplier | 12.88 |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 1.52 AC |
| Building Size | 27,232 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1988/2018 |
| Parking Ratio | 1.84/1,000 SF |
| Zoning | R3 - R-3 Multifamily |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Storage Space
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Sprinkler System
- Stainless Steel Appliances
- Dining Room
- Linen Closet
- Pantry
- Patio
- Large Bedrooms
- Quartz Countertops
Site Amenities
- Picnic Area
- Property Manager on Site
- Gated
- Storage Space
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 710 |
| 2+2 | 24 | - | 898 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 175-192-38 | Improvements Assessment | $5,621,069 |
| Land Assessment | $4,600,336 | Total Assessment | $10,221,405 |
Property Taxes
Parcel Number
175-192-38
Land Assessment
$4,600,336
Improvements Assessment
$5,621,069
Total Assessment
$10,221,405
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Hillside Terrace Apartments | 322 Hillside Ter
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