Vista Way Rental Homes

06-30-2022
07-01-2022

706 Vista Way, Oceanside, CA 92054

Legal Duplex now operating as 4 unit apartment building. Consisting of a 5 bed + 4 bath unit estimated at 2,480 SF with a rooftop patio that has gorgeous views of the ocean and south Oceanside, and a 3 bed + 3 bath unit operating as 3 individual unpermitted 1 bed + 1 bath apartment units estimated at 580 SF a unit. There is a patio and common area for these units as well, which provides the tenants with space to relax and socialize. 

Property Description

The property has an estimated combined total of 4,227 SF of rentable living space situated on a 5,633 SF lot. There is a total of 3 washer and dryer hookups throughout the property, one in the two-car garage that can be rented out for additional income. The property is zoned RS, which based on preliminary discussions with City of Oceanside, may allow one to build up to 2 ADUs on the parcel. 

Unit Mix

Description No. of Units Sq ft. Avg. Monthly Rent
5 bed + 4 bath 1 2,480 $ 3,500
1 bed + 1 bath 3 580 $ 1,733

Key Property Information

Listing Status
Available
Listing Type
Call for offers
Multifamily type
2-4 Units
Price
$ 2,670,000
No. of Units
4
Cap Rate
2.2%
GRM / GIM
25.8
Average Occupancy
100%
Year Built
1991
Year Renovated
2003
Building Size
4,227 Sq ft
Lot Size
5633 sq ft
No. of Stories
2
APN
153-352-11-00
Zoning Code
RS
No. of Parking Spots
2
Buildable Sq Ft
4227.00
Opportunity Zone
No
Buy Side Fee
2.5%
Price per unit
$ 667,500

Financial Details

Income/Expense Info
Actual
Financial Year
2022
Gross Income
$ 104,400
Operating Expenses
$ 50,979
Net Operating Income
$ 53,421
Pre-tax Cashflow
$ 53,421
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33.173228, -117.358273

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