5 Apartment Units Sold in Vista for $949,000

SAN DIEGO - May 21, 2015 - PRLog -- The Vista Townhome Apartments have been sold for $949,000. Located at 410-418 Palm Drive in Vista, CA in north San Diego County. This 5 unit apartment complex was constructed in 1972, offers tenants on-site parking, 5 garages, 6 open parking spaces, and balconies. The property was fully occupied at time of sale.

The Vista Townhome Apartments have an average unit size of approximately 1,344 sf and consist of five (5) 2 Bedroom / 1.5 Bath townhome units on a 9,601 sf lot. The property sold for $190,000 per unit and $141.37 per square foot. The value indicators at time of sale were: Gross Rent Multiplier = 12.3 and CAP Rate = 5.1%. At close of escrow the rental rates averaged $1,289 for the 2 Bedroom / 1.5 Bath units. The seller was Esther Daniels and was represented by Arby Eivazian of ACI. The buyers were David and Penny Meyers and were represented by Patti Short of Star Real Estate.

For more information please contact:

Arby Eivazian at (619) 786-0080 or arbyeivazian@aciapartments.com

Since 1982, Apartment Consultants Inc. (ACI) has been helping investors build wealth through innovative, proven apartment investing strategies. In the last two decades, ACI has closed more San Diego County income property escrows than any other firm.