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Value-Add, 7.2% Proforma CAP 467-475 N Melrose Dr 5 Unit Apartment Building $1,295,000 ($259,000/Unit) 5% Cap Rate Vista, CA 92083
INVESTMENT HIGHLIGHTS
- Prime Vista Location on N Melrose Across from Vista Focus Academy
- 4 Units (+1 Nonconforming 5th Unit)
- Large, Fully Gated 11,507sf Lot
- Great Unit Mix: Three (3) 1Bed / 1Bath + Two (2) 2Bed / 1Bath
- Value Add Opportunity: Approx. 37% Upside in Rents
- Plenty of Off Street Parking: Eight (8) Spaces
EXECUTIVE SUMMARY
Located in one of San Diego’s strongest rental markets, this value-add property consists of three (3) 1Bedroom / 1Bathroom units and two (2) 2Bedroom / 1Bathroom Units, which sits on a large 11,507sf parcel with eight (8) off-street parking spots. With 37% upside in rental income, this asset is primed for a new owner to take this property to the next level.
With tenants paying all utility expenses, this is a high income / low expense opportunity located across the street from Vista Focus Academy and less than 1 mile to both Vista Village and CA-78.
With tenants paying all utility expenses, this is a high income / low expense opportunity located across the street from Vista Focus Academy and less than 1 mile to both Vista Village and CA-78.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Walking/Biking Trails
- Storage Space
- Public Transportation
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | $1,475 | 700 |
| 2+1 | 2 | $1,800 | 900 |
1 1
PROPERTY TAXES
| Parcel Number | 163-470-11 | Improvements Assessment | $293,640 (2025) |
| Land Assessment | $293,640 (2025) | Total Assessment | $587,280 (2025) |
PROPERTY TAXES
Parcel Number
163-470-11
Land Assessment
$293,640 (2025)
Improvements Assessment
$293,640 (2025)
Total Assessment
$587,280 (2025)
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Value-Add, 7.2% Proforma CAP | 467-475 N Melrose Dr
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