Plymouth Apartments 380 Plymouth Dr 32 Unit Apartment Building $16,197,375 CAD ($506,168 CAD/Unit) 4.40% Cap Rate Vista, CA 92083

BridgePoint Realty, Inc is proud to present the Plymouth Heights Apartments - a thoughtfully oriented & family friendly apartment community built in 1986 just outside of the central business center (Vista Village) and entrance to the 78 freeway. The spacious and secured 63,000 SF flag lot hosts 32 apartment units , 32 covered carports w/ storage , and an additional 19 open parking spaces.
The current unit mix consists of (19) 950-1000 SF two bedroom / two bath units , and (13) generously sized 700-750SF one bedroom / one bath units. Considering the excellent bones/systems in-place , the current rentable square footage, and conveniently available space for installation of specific luxury upgrades like in-unit washer dryers - there is a tremendous amount of upside to capture without significant capital injection. Take advantage of the attractive private note financing : $7,300,000 assumable 1st trust deed with 10 years remaining on a fixed (and interest only) rate of 5%.
Since its construction in 1986 the property has been meticulously maintained and cared for, which is evident by tenants who feel a sense of community and tend to stay long term. Recently, major systems upgrades include but are not limited to resealing of balconies and installation of new Roof underlayment and new tiles and the removal of a pool which is converted into a grassy gated play area for kids and pets , providing a tremendous amount of savings in water usage reduced liability & insurance costs.