SAN DIEGO, Calif., September 1, 2021 – Cushman & Wakefield announced today the firm has brokered the sale of the Sunset Cliffs Apartments in Vista (San Diego), California. The 52-unit gated apartment community comprises 11 buildings consisting of a mix of single-story cottage and two-story townhome style units. The asset was acquired by Orange County, CA-based Dunbar Residential Investments, LLC for approximately $13.6 million. The seller was Appian Lane Associates, LP.
Mark Bridge and Jon Mitchell with Cushman & Wakefield’s Multifamily Advisory Group in Orange County represented both buyer and seller in the transaction.
“This is an attractive North San Diego property with strong leasing fundamentals and situated in a thriving Vista community that continues to grow and develop many new activities, attractions, and cultural activities,” said Mark Bridge, Managing Director. “The asset makes a great addition to help diversify Dunbar’s real estate portfolio.”
Jon Mitchell, Senior Director added, “Nestled along a cliff’s edge, the property offers a calming, spacious outdoor environment with terrific landscaping while also conveniently accessible to freeways, amenities, and employment.”
Located at 180-200 Terrace Dr and originally built in 1987, Sunset Cliffs Apartments sits on a large lot totaling 4.06 acres in a private gated setting. The community consists of 28 one-bed / one-bath cottage style units, 23 one-bed / one-bath two story townhouse style units, and a one-bed / one-bath cottage style unit with an attached office.
Property amenities include an on-site gym, clubhouse with kitchen, covered carports and on-site laundry. All units also have in-unit washer and dryer or hookups, and patios or balconies. The cottages have enclosed patios and in wall air conditioning units. The property also features unique circular walkways around the cul-de-sac shaped property.
The location is near the intersection of S Santa Fe Ave and Civic Center Dr, with quick access to Highway 78, midway between Interstates 5 and 15.
