$1,599,000
1135 S Santa Fe Ave Vista, CA 92083
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$1,599,000
Est. payment /mo
0.49 Acres Lot
Active
1135 S Santa Fe Ave Vista, CA 92083
UPDATED:
10/21/2024 03:35 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 240024807
Lot Size 0.485 Acres
Acres 0.6
Property Description
Please to present 1135 S Santa Fe Avenue, an underdeveloped 8-unit multifamily property with very strong rent upside located less than a half mile from a very active Opportunity Zone in Vista, CA. The property consists of seven (7) cozy cottage-style 1bd/1ba units and one (1) detached 2bd/1ba unit, with most of them having private fenced-in yards. There is ample onsite parking with fourteen (14) open spaces and two (2) covered stalls. The units are located on a 26,136 SF parcel with zoning that allows for an additional five (5) units onsite “by-right”, and includes a massive central courtyard providing ample space for accommodating the additional units. Due to prior and upcoming General Plan updates, the area surrounding the property (i.e. within 1 mile of the Opportunity Zone) has become a hotbed for redevelopment – with four projects averaging more than 70-units/acre recently being delivered and more than two-dozen other projects currently in the pipeline. The property’s location also places it within a 15-minute drive to the beach as well as major employment and education centers such as Camp Pendleton to the west, California State University San Marcos to the east and the regionally significant Palomar Airport Road employment corridor to the south. 1135 S Santa Fe Avenue is an ideal investment for a seasoned operator seeking an asset with immediate rent upside and long-term redevelopment potential, and/or a first-time multifamily investor looking for a project with strong cashflows at an entry-level price point.
Location
State CA
County San Diego
Area Vista (92083)
Zoning M-U (21)
Exterior
Total Parking Spaces 16
Building
Story 1
Lot Size Range .5 through .75 Acres
Others
Space Rent $160,483
Special Listing Condition Call Agent
Listed by Michael Robert Greiner • CBRE
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