SOLD Aug 2, 2024 - $14,100,000

900 Phillips Street, CA

$15,950,000

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3.58

Acres

About 900 Phillips Street

The Pine View Apartments, a 59-unit multifamily investment opportunity located in Vista, CA. Built in multiple phases between 1964 and 1973, The Pine View Apartments has been held by the same family for multiple decades and is ready for fresh capital and new management to complete full interior and exterior renovations with significant value add opportunities in management, landscaping, amenities, operations, expenses, and income. Situated on over 3.5 acres and across four contiguous parcels, The Pine View Apartments is located just off the Civic Center exit of the 78 Freeway. Centrally located between the 5 and 15 Freeways, tenants can conveniently drive to the 15 Freeway (11.8 miles) and the 5 Freeway (8.1 miles), allowing access to two major San Diego County arteries for both north and south bound travel. Directly next door to The Pine View Apartments is the Sprinter light rail station, with convenient access to downtown Escondido to the east and Oceanside Transit Center to the west. The investment opportunity comprises of a unit mix of (1) studio, (30) one bedroom, one bath units and (25) two-bedroom one bath units, and (3) two-bedroom two bath units. The units at the Pine View Apartments are mostly classic style units, maintained and repaired as necessary on each turnover. However, over the past twenty-four months, ownership has upgraded a total of thirteen units: (9) one bedroom one bath units, (3) two bedroom, one bath units, and (1) two bedroom, two bath unit. All units include very modest upgrades of vinyl plank flooring in the kitchen and baths, along with new cab

Features of 900 Phillips Street

MLS® # NDP2401713
Price $15,950,000
Sold Price $14,100,000
Bathrooms 0.00
Acres 3.58
Type Residential Income
Status SOLD

Community Information

Address 900 Phillips Street
Area VISTA (92083)
Subdivision Vista
County San Diego
State CA
Zip Code 92083

Amenities

Is Waterfront No
Has Pool Yes
Pool Community/Common

Interior

Fireplace No

Exterior

Lot Description Sidewalks

Additional Information

Date Listed March 1st, 2024
Date Sold August 2nd, 2024
Foreclosure No
Short Sale No
RE / Bank Owned No
Listing Office Lee & Associates

Price History for MLS #NDP2401713

Date Details Change
Price Reduced from $17,000,000 to $15,950,000 ↓ $1,050,000 (6.18%)

Listing Map

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