Thank you
Eric Von Bluecher
Lee & Associates
760-929-9700
The Pine View Apartments, a 59-unit multifamily investment opportunity located in Vista, CA. Built in multiple phases between 1964 and 1973, The Pine View Apartments has been held by the same family for multiple decades and is ready for fresh capital and new management to complete full interior and exterior renovations with significant value add opportunities in management, landscaping, amenities, operations, expenses, and income. Situated on over 3.5 acres and across four contiguous parcels, The Pine View Apartments is located just off the Civic Center exit of the 78 Freeway. Centrally located between the 5 and 15 Freeways, tenants can conveniently drive to the 15 Freeway (11.8 miles) and the 5 Freeway (8.1 miles), allowing access to two major San Diego County arteries for both north and south bound travel. Directly next door to The Pine View Apartments is the Sprinter light rail station, with convenient access to downtown Escondido to the east and Oceanside Transit Center to the west. The investment opportunity comprises of a unit mix of (1) studio, (30) one bedroom, one bath units and (25) two-bedroom one bath units, and (3) two-bedroom two bath units. The units at the Pine View Apartments are mostly classic style units, maintained and repaired as necessary on each turnover. However, over the past twenty-four months, ownership has upgraded a total of thirteen units: (9) one bedroom one bath units, (3) two bedroom, one bath units, and (1) two bedroom, two bath unit. All units include very modest upgrades of vinyl plank flooring in the kitchen and baths, along with new cabinets, and appliances. All the units are electric and offer larger than average floor plans with an estimated 695 square foot one-bedroom units, and the two-bedroom units ranging from 950, 1,000, 1,025 and 1,300 square feet. Most, if not all, units feature large balconies, patios or yards. The property features 46 garages, 63 surface and 15 car ports for the tenants, this building is fully parked along with multiple handicap parking spots recently installed. Other amenities include approximately three laundry rooms, a community pool, and lush landscaping. The new owner can maximize this exceptional opportunity with renovations of interior, exterior, landscaping, amenities, building a leasing office/gym/storage/ADUs, adding wash/dryer to units, bike storage, EV charging, along with adding additional income through pet rent, storage, RUBS and more. Please contact listing agents for more information.
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Total Baths: 0
Sewer : Public Sewer
Air Conditioning
Has Heating
Has Fireplace: 0
Year Built: 1969
Building Area Total: 51,686
Community
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 3.5795
Lot Size Source: Public Records
Lot Size Square Feet: 155921
Original List Price: 15,950,000
Listing Contract Date: 2023-03-01
Listing Agreement: Exclusive Right To Sell
Parcel Number: 1793100300
Lease Term: Negotiable
Source Listing Status: Active Under Contract
Source Neighborhood: 92083 - Vista
Directions: Right off the 78 Freeway near Civic Center Drive.
Zoning: R-4
Source Property Type: Residential Income
Area: 92083 - Vista
Property Age: 55
Common Walls: 2+ Common Walls
Year Built Source: Vendor Enhanced
Entry Level: 2
Entry Location: First Floors and Second Story Stairs
Property Attached: Yes
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
718 Sycamore #100, Vista, CA,92083 | $259,500 | 3 | 2 | 1,190 | 2989 Sqft |
119 Candice Place, Vista, CA,92083 | $484,000 | 2 | 1 | 877 | 169542 Sqft |
1320 Kilby Ln, Vista, CA,92083 | $1,129,000 | 5 | 4 | 3,058 | 15655 Sqft |
108 East Drive, Vista, CA,92083 | $679,000 | 2 | 1 | 576 | 8340 Sqft |
609 Spires Street, Vista, CA,92083 | $739,999 | 3 | 2 | 1,301 | 6900 Sqft |
718 Sycamore Ave #22, Vista, CA,92083 | $279,500 | 2 | 2 | 1,190 | 2990 Sqft |
245 W Bobier Drive #51, Vista, CA,92083 | $459,997 | 2 | 2 | 1,213 | 3500 Sqft |
325 N Melrose Drive #G, Vista, CA,92083 | $525,000 | 2 | 2 | 1,172 | -- |
2130 Sunset Drive #3, Vista, CA,92083 | $205,000 | 2 | 2 | 1,440 | 2500 Sqft |
1558 N Santa Fe Avenue, Vista, CA,92083 | $1,600,000 | -- | -- | -- | 35965 Sqft |
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ByOwner last updated this listing 05/14/2024 @ 17:55
MLS: NDP2401713
LISTED BY: Eric von Bluecher, Lee & Associates
SOURCE: CRMLS
Buyer Agency Compensation: 1.25%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.