836 Sinkler Way 5 Unit Apartment Building $1,795,000 ($359,000/Unit) 5.02% Cap Rate Vista, CA 92083

CBRE is pleased to present the opportunity to acquire 836 Sinkler Way, a value-add multifamily investment located within the Downtown Vista Specific Plan in Vista, California. The property is currently a 5-unit asset, consisting of a 4-unit apartment building with each unit configured as a two-bedroom / one-bathroom residence, along with a detached four-bedroom / two-bathroom single-family house located on the same parcel.
The property offers a clearly defined value-add opportunity through renovation and unit reconfiguration. Under a renovated scenario, the existing four-bedroom / two bathroom single family home located at the front of the property can be converted into two separate units, consisting of one (1) two-bedroom / one-bathroom unit and one (1) one-bedroom / one-bathroom unit, increasing the total unit count to six (6) residential units. This strategy allows ownership to enhance cash flow, improve the unit mix, and better align the property with prevailing rental demand.
In addition to near-term income growth potential, 836 Sinkler Way benefits from meaningful long-term redevelopment upside. The property is located within the Downtown Vista Specific Plan, which permits up to 30 dwelling units per acre, allowing for the development of up to nine (9) units by right. This zoning designation provides future ownership with flexibility to operate the asset as a renovated multifamily investment or pursue higher-density redevelopment to maximize the site’s underlying land value. Vista, California, is supported by favorable market fundamentals, including an established downtown core, ongoing public and private investment, and access to retail, dining, recreation, and regional transportation corridors. While the property is located outside of Vista’s Opportunity Zone, its close proximity positions it to benefit from continued reinvestment, infrastructure improvements, and heightened demand within the surrounding area.
836 Sinkler Way represents a compelling opportunity offering immediate value-add potential, long-term development optionality, and multiple exit strategies, supported by favorable zoning, an infill location, and durable local demand drivers.