Plymouth Apartments 380 Plymouth Dr 32 Unit Apartment Building $16,272,692 CAD ($508,522 CAD/Unit) 4.40% Cap Rate Vista, CA 92083

BridgePoint Realty, Inc is proud to present the Plymouth Heights Apartments - a truly one-of-a-kind apartment community, built in 1986 , with brilliant foresight in design of interior floorplans and site orientation. The spacious 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 SF two bedroom / two bath units , and (13) generous 750SF one bedroom / one bath units. Considering the current rentable square footage and availability for installation of in-unit washer dryers - there is a tremendous upside to capture hidden in plain site.
Furthermore , this deal comes with very attractive private note financing : $7,300,000 assumable 1st trust deed with 10 years remaining on a fixed and interest only rate of 5%. INTEREST ONLY
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.