For Sale
$3,395,000

711 Franklin Ln Vista, CA 92084

Value-add multifamily investment opportunity in Vista, CA.

Overview

Added:
Dec 11, 2024
Days on market:
134
This 10-unit apartment building, located at 711 Franklin Ln, Vista, CA 92084, presents a compelling investment opportunity. Built in 1986, the property boasts 10,915 square feet on a 5,469 square foot lot and features ten spacious two-bedroom, two-bathroom units, each approximately 1090 square feet, complete with patios/balconies, a garage, and dedicated storage and parking spaces. The property currently generates a Net Operating Income (NOI) of $145,186, representing a 4.28% cap rate. A pro-forma NOI of $200,127 projects a 5.89% cap rate, indicating significant upside potential. Each unit is priced at $339,500, and the asking price for the entire complex is $3,395,000. The property includes an on-site, coin-operated laundry facility, providing additional revenue. Recent capital improvements include new electrical sub-panels in every unit. The property is zoned SPI and currently has an existing loan with Chase Bank at 3.52% interest, with a balance of approximately $1,450,000, set to adjust in late 2026. The complex is primarily occupied by long-term tenants, suggesting further rental growth opportunities. This property offers a strong value-add proposition for investors seeking a stable income stream with significant upside potential in the desirable Vista, California market.

Highlights

  • 10-unit apartment building at 711 Franklin Ln, Vista, CA 92084.
  • 10,915 sq ft building on a 5,469 sq ft lot, built in 1986.
  • Ten 2 bed/2 bath units (approx. 1090 sq ft each), each with patio/balcony, garage, storage, and parking.
  • Current NOI: $145,186 (4.28% cap rate); Pro-forma NOI: $200,127 (5.89% cap rate).
  • Asking price: $3,395,000 ($339,500 per unit).
  • On-site coin-operated laundry.

Property Details for 711 Franklin Ln

Property type
Apartment buildings
Square Feet
10,915 SF
Year Built
1986
Units
10

Location Insight

City
Vista
County
San Diego
State
California
Latitude
33.2079644
Longitude
-117.2366598

FAQs

What type of property is this?
Apartment building - Value-add multifamily investment opportunity in Vista, CA.
Where is the apartment building located?
The property is located at 711 Franklin Ln Vista, CA.
What is the asking price?
The asking price for this property is $3,395,000.
What are key features of this property?
This property features: 10-unit apartment building at 711 Franklin Ln, Vista, CA 92084.; 10,915 sq ft building on a 5,469 sq ft lot, built in 1986.; Ten 2 bed/2 bath units (approx. 1090 sq ft each), each with patio/balcony, garage, storage, and parking.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
711 Franklin Ln
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message