840 Sinkler Way
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840 Sinkler Way
8 Unit Apartment Building $2,695,000 ($336,875/Unit) Vista, CA 92083
Investment Highlights
- Private Balconies
- Large 900 SF Units (All 2bed/1bath)
- 8 Garages for Additional Income or ADU Potential
- 54% Upside in Rental Income
Executive Summary
840 Sinkler Way is an 8 unit apartment complex located in the flourishing market of Vista, CA. The property is situated in the heart of Vista, just 1 mile from downtown, ensuring high demand and low vacancy. The property consists of 8 expansive 2-bedroom, 1-bathroom units averaging 900 square feet each. Each unit features a private balcony, one-car garage along with additional onsite parking, providing tenants with ample space and privacy. There is significant rental upside through renovation. With market rents at $2,500+, investors can capitalize on a remarkable 54% +/- upside potential. In addition, the 8 garages present an opportunity for more appreciation through the development of multiple ADUs. Recent upgrades include new exterior paint and reinforced balconies, enhancing the property's appeal and durability.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$240,000
|
$33.33
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$12,000
|
$1.67
|
| Effective Gross Income |
$228,000
|
$31.67
|
| Taxes |
$37,400
|
$5.19
|
| Operating Expenses |
$39,040
|
$5.42
|
| Total Expenses |
$76,440
|
$10.62
|
| Net Operating Income |
$151,560
|
$21.05
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $240,000 |
| Annual Per SF | $33.33 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $12,000 |
| Annual Per SF | $1.67 |
| Effective Gross Income | |
|---|---|
| Annual | $228,000 |
| Annual Per SF | $31.67 |
| Taxes | |
|---|---|
| Annual | $37,400 |
| Annual Per SF | $5.19 |
| Operating Expenses | |
|---|---|
| Annual | $39,040 |
| Annual Per SF | $5.42 |
| Total Expenses | |
|---|---|
| Annual | $76,440 |
| Annual Per SF | $10.62 |
| Net Operating Income | |
|---|---|
| Annual | $151,560 |
| Annual Per SF | $21.05 |
Property Facts
| Price | $2,695,000 | Apartment Style | Low Rise |
| Price Per Unit | $336,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.55 AC |
| Sale Conditions | 1031 Exchange | Building Size | 7,200 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1986 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Price | $2,695,000 |
| Price Per Unit | $336,875 |
| Sale Type | Investment |
| Sale Conditions | 1031 Exchange |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.55 AC |
| Building Size | 7,200 SF |
| No. Stories | 2 |
| Year Built | 1986 |
| Parking Ratio | 1/1,000 SF |
Unit Amenities
- Balcony
- Kitchen
- Tub/Shower
Site Amenities
- Playground
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $1,620 | 900 |
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PROPERTY TAXES
| Parcel Number | 179-124-33 | Total Assessment | $1,473,691 |
| Land Assessment | $535,886 | Annual Taxes | $37,400 ($5.19/SF) |
| Improvements Assessment | $937,805 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
179-124-33
Land Assessment
$535,886
Improvements Assessment
$937,805
Total Assessment
$1,473,691
Annual Taxes
$37,400 ($5.19/SF)
Tax Year
2024
zoning
| Zoning Code | SP-DV |
| SP-DV |
-
Jason Lee -
Christine Rebamonte -
Dylan Ackley -
JLM Real Estate Inc.
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840 Sinkler Way
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