711 Franklin LnVista, CA 92084

Property Details for 711 Franklin Ln

Year built

1986

Lot size

0.66 AC

Property size (Sq ft)

10,915 SF

Zone code

R-3:RESTRICTED MULTIPLE

Property type

Apartment buildings

APN

175-173-43-00

APU

1751734300

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $3,006,876

  6.5%

  $2,775,578

  7%

  $2,577,322

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,784,391

  Geo Method

  $5,954,716

• Alternative Use

  Use

  Valuation

  Residential

  $2,775,578

  Hospitality

  $2,542,414

  Educational

  $2,115,259

  Medical

  $2,188,006

  Retail

  $3,290,402

Location Insight

City

Vista

County

San Diego

State

California

Latitude

33.2079

Longitude

-117.237

CBSA code

41740

CBSA name

SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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