4 Units | 251 Pala Vista Drive, Vista , CA, 92084

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4 Units CONTENTS

We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice.  We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct yourown investigation of the property and transaction.

01 Executive Summary Investment Summary 5 Unit Mix Summary 6 Location Summary 7

02 Property Description Property Features 9 Aerial Map 10 Property Images 11

03 Financial Analysis Income & Expense Analysis 16 Cash Flow Analysis 17 Pala Vista 251 19

04 Demographics Demographics 21 Demographic Charts 23

Exclusively Marketed by:

Gary Kaufman, CCIM Vice President619-906-2129Kaufman@scc1031.comDRE#01816761

The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from South Coast Commercial Inc.and it should not be made available to any other person or entity without the written consent of South Coast Commercial Inc..

By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees thatrecipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to South CoastCommercial Inc.. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminarylevel of interest in the subject property.

The information contained herein is not a substitute for a thorough due diligence investigation. South Coast Commercial Inc. has not made any investigation, and makes no warranty orrepresentation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property andimprovements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvementsthereon, or financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.

The information contained in this offering memorandum has been obtained from sources we believe reliable; however, South Coast Commercial Inc. has not verified, and will not verify, any of theinformation contained herein, nor has South Coast Commercial Inc. conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding theaccuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsiblefor their costs and expenses of investigating the subject property.

4 Units Confidentiality and Disclaimer | 03

CONFIDENTIALITY AND DISCLAIMER

PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONTACT SOUTH COAST COMMERCIAL INC. FOR MORE DETAILS.Copyright © 2020 CREOP, LLC. All Rights Reserved.

4 Units | Executive Sum

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Executive Summary 4 U

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Investment Summary

Unit Mix Summary

Location Summary

4 Units Investment Summary | 05

OFFERING SUMMARYADDRESS 251 Pala Vista Drive

Vista CA 92084COUNTY San DiegoMARKET San DiegoSUBMARKET VistaBUILDING SF 2,490 SFLAND SF 13,875NUMBER OF UNITS 4YEAR BUILT 1959OWNERSHIP TYPE Fee Simple

FINANCIAL SUMMARYOFFERING PRICE $949,000PRICE PSF $381.12PRICE PER UNIT $237,250OCCUPANCY 97.00 %NOI (CURRENT) $29,242NOI (Pro Forma) $48,448CAP RATE (CURRENT) 3.08 %CAP RATE (Pro Forma) 5.11 %GRM (CURRENT) 18.61GRM (Pro Forma) 13.40

DEMOGRAPHICS 1 MILE 3 MILE 5 MILE2019 Population 13,950 136,441 254,2062019 Median HH Income $65,409 $63,617 $70,9932019 Average HH Income $80,948 $84,722 $94,841

Strategically located in the heart of rapidly gentrifying Vista, the Pala Vista4-plex represents a tremendous opportunity for either the first timeproperty investor or the seasoned pro to take advantage of low interestrates and lock in a fixed rate loan for 30 years thereby eliminating theimpact to cash flow of interest rate fluctuations.

The property consists of 2 duplexes with a third building housing garagesin between. Two of the four units are 2 bedroom 1 bathroom and the othertwo are 1 bedroom 1 bathroom. Each duplex has a pitched roof with frameconstruction. The large lot gives a sense of spaciousness to the long termresidents. The property is well located and is walking distance to theSprinter station and minutes from the 78 freeway and downtown Vista withall its shops and restaurants. New construction in the area continues asthe City of Vista expands on the popularity of the downtown area.

4 Units Unit Mix Summary | 06

Unit Mix # Units Current Rent Monthly Income Market Rent Market Income1 bd + 1 ba 2 $825 $1,650 $1,300 $2,6002 bd + 1 ba 2 $1,300 $2,600 $1,650 $3,300

Totals/Averages 4 $2,125 $4,250 $2,950 $5,900

4 Units Location Summary | 07

Located just a few blocks from the rapidly gentrifyingDowntown Vista area, the property is close to all of theshops, theater, and restaurants. Also nearby is the VistaTransportation center offering countywide access via theSprinter Light Rail System and the NCTD bus system.Residents enjoy the proximity and convenience of being justa short walk from all that Vista has to offer.

Located just seven miles inland from the Pacific Ocean innorthern San Diego County, the City of Vista has a perfectmild Mediterranean climate. Residents enjoy a wide range ofyear-round outdoor activities in a setting of gentle rolling hillsand pleasant rural surroundings.

Vista is a thriving community that continues to grow anddevelop many new activities and attractions. The MoonlightAmphitheatre, AVO Playhouse, and the Wave Waterparkare just some of the many cultural activities the city offersVista residents. Vista's Business Park is home to over 800companies, with many global businesses relocating theirheadquarters, manufacturing, distribution and marketingfacilities to this business park. In addition, Vista Village hasbrought revitalization to the downtown with dining,entertainment, shopping, and public amenities.

Regional Map

Locator Map

4 Units | Property D

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Property Description 4 U

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Property Features

Aerial Map

Parcel Map

Additional Maps

Property Images

4 Units Property Features | 09

PROPERTY FEATURESNUMBER OF UNITS 4BUILDING SF 2,490LAND SF 13,875YEAR BUILT 1959# OF PARCELS 1TOPOGRAPHY FlatNUMBER OF STORIES 1NUMBER OF BUILDINGS 4NUMBER OF PARKING SPACES 8PARKING RATIO 2:1NUMBER OF GARAGES 4 (Single-Car Garages)

UTILITIESWATER OwnerTRASH OwnerGAS TenantELECTRIC Tenant

CONSTRUCTIONFOUNDATION SlabFRAMING WoodEXTERIOR StuccoPARKING SURFACE ConcreteROOF Pitched/CompositeLANDSCAPING Mature

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4 Units Property Images | 11

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4 Units | Financial A

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Financial Analysis 4 U

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Income & Expense

Multiyear Cash Flow Projections

Pala Vista 251

4 Units Income & Expense Analysis | 16

INCOME CURRENT PRO FORMAGross Potential Income $51,000 $70,800

Less: General Vacancy $1,530 $2,124

Effective Gross Income $49,470 $68,676

Less: Expenses $20,228 $20,228

Net Operating Income $29,242 $48,448

EXPENSES CURRENT PRO FORMA

Water & Sewer $1,075 $4,300 $1,075 $4,300

Landscaping $240 $960 $240 $960

Trash Removal $300 $1,200 $300 $1,200

Maintenance $500 $2,000 $500 $2,000

Licenses & Fees $38 $150 $38 $150

Insurance $325 $1,300 $325 $1,300

Taxes $2,580 $10,318 $2,580 $10,318

Total Operating Expense $5,057 $20,228 $5,057 $20,228

Expense / SF $8.12 $8.12

% of EGI 40.89 % 29.45 %

Per Unit Per Unit

REVENUE ALLOCATION

DISTRIBUTION OF EXPENSES

4 Units Cash Flow Analysis | 17

CASH FLOWCalendar Year CURRENT Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Gross Potential RevenueGross Rental Income $51,000 $70,800 $74,340 $78,057 $81,960 $86,058 $90,361 $94,879 $99,623 $104,604Gross Potential Income $51,000 $70,800 $74,340 $78,057 $81,960 $86,058 $90,361 $94,879 $99,623 $104,604General Vacancy $1,530 $2,124 $2,230 $2,342 $2,459 $2,582 $2,711 $2,846 $2,989 $3,138Effective Gross Income $49,470 $68,676 $72,110 $75,715 $79,501 $83,476 $87,650 $92,032 $96,634 $101,466Operating ExpensesWater & Sewer $4,300 $4,300 $4,429 $4,562 $4,699 $4,840 $4,985 $5,134 $5,288 $5,447Landscaping $960 $960 $960 $960 $960 $960 $960 $960 $960 $960Trash Removal $1,200 $1,200 $1,236 $1,273 $1,311 $1,351 $1,391 $1,433 $1,476 $1,520Maintenance $2,000 $2,000 $2,060 $2,122 $2,185 $2,251 $2,319 $2,388 $2,460 $2,534Licenses & Fees $150 $150 $155 $159 $164 $169 $174 $179 $184 $190Insurance $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300Taxes $10,318 $10,318 $10,318 $10,318 $10,318 $10,318 $10,318 $10,318 $10,318 $10,318Total Operating Expense $20,228 $20,228 $20,458 $20,694 $20,937 $21,188 $21,446 $21,713 $21,987 $22,269Net Operating Income $29,242 $48,448 $51,652 $55,021 $58,564 $62,288 $66,203 $70,320 $74,647 $79,197

Effective Gross Income vs Operating Expenses Cash Flow

4 Units Cash Flow Analysis | 18

Calendar Year CURRENT Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Financial MetricsCash on Cash Return b/t 3.08 % 5.11 % 5.44 % 5.80 % 6.17 % 6.56 % 6.98 % 7.41 % 7.87 % 8.35 %CAP Rate 3.08 % 5.11 % 5.44 % 5.80 % 6.17 % 6.56 % 6.98 % 7.41 % 7.87 % 8.35 %Operating Expense Ratio 40.88 % 29.45 % 28.36 % 27.33 % 26.33 % 25.38 % 24.46 % 23.59 % 22.75 % 21.94 %Gross Multiplier (GRM) 18.61 13.40 12.77 12.16 11.58 11.03 10.50 10.00 9.53 9.07Breakeven Ratio 40.89 % 29.45 % 28.37 % 27.33 % 26.34 % 25.38 % 24.47 % 23.59 % 22.75 % 21.95 %Price / SF $381.12 $381.12 $381.12 $381.12 $381.12 $381.12 $381.12 $381.12 $381.12 $381.12Price / Unit $237,250 $237,250 $237,250 $237,250 $237,250 $237,250 $237,250 $237,250 $237,250 $237,250Income / SF $19.86 $27.58 $28.95 $30.40 $31.92 $33.52 $35.20 $36.96 $38.80 $40.74Expense / SF $8.12 $8.12 $8.21 $8.31 $8.40 $8.50 $8.61 $8.71 $8.82 $8.94

# Units Zip4 92084

Current Market Current Market18.6 13.4 3.1% 5.2%

.Gross Sq. Ft. Parcel Size

(Approx.) (Approx.) (Approx.)$381.12 2,490 13,875

# Units Type Rent TotalRent Range Advertising $0 Management (Off Site) $0

Elevator $0 Management (On Site) $0Gas & Electric $0 Licenses & Fees $150

2 1Br/1Ba $825 $1,650 Water & Sewer $4,300 Miscellaneous $02 2Br/1Ba $1,300 $2,600 Landscaping $960 Reserves $0

Trash Removal $1,200 Pool $0Laundry Income $0 Pest Control $0 Insurance $1,300Total Monthly Income $4,250 Maintenance $2,000 Taxes $10,318

Total Annual Operating Expenses (estimated): $20,228

2 1Br/1Ba $1,300 $2,600 Expenses Per: Unit $5,0572 2Br/1Ba $1,650 $3,300 % of Actual GSI 40%

Laundry Income (owned) $0Total Monthly Income $5,900Estimated Annual Operating Proforma Financing Summary

Actual MarketGross Scheduled Income $51,000 $70,800 Downpayment: $949,000Less: Vacancy Factor 2% $1,020 $1,416 100%Gross Operating Income $49,980 $69,384 Interest Rate: 4.500%Less: Expenses 40% $20,228 $20,228 Amortized over: 30 YearsNet Operating Income $29,752 $49,156 Proposed Loan Amount: $0

Less: 1st TD Payments $0 $0 Debt Coverage Ratio:Current: #DIV/0!

Pre-Tax Cash Flow $29,752 $49,156 Market: #DIV/0!Cash On Cash Return 3.1% 5.2%Principal Reduction $0Total Potential Return (End of Year One) 5%

Contact Gary Kaufman at 760-814-0114 DRE 01816761

Map Code

$949,000

APARTMENT INVESTMENT INFORMATION

Address CityVista

GRM CAP Rate$/UnitPrice

251 Pala Vista

$/Square Foot

$237,250

Estimated Annual Operating Expenses

Yr. Built(Approx.)

1959

advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Income Detail

Estimated Market Rents

Estimated Actual Average Rents

The information contained herein has been obtained from sources believed reliable. While South Coast Commercial does not doubt its accuracy, we have not verified it and make no guarantee,

warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for

example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax, financial and legal advisors. You and your

Comments

CASHFLOWANALYSIS

4 Units Pala Vista 251 | 19

4 Units | D

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Demographics 4 U

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Demographic Details

Demographic Charts

4 Units Demographics | 21

POPULATION 1 MILE 3 MILE 5 MILE

2000 Population 13,533 121,820 209,991

2010 Population 13,455 126,423 233,757

2019 Population 13,950 136,441 254,206

2024 Population 14,276 141,971 264,936

2019 African American 402 4,423 8,421

2019 American Indian 166 1,449 2,196

2019 Asian 439 6,627 17,746

2019 Hispanic 6,370 65,826 105,369

2019 Other Race 3,303 29,872 47,809

2019 White 8,688 85,272 161,560

2019 Multiracial 871 7,836 14,720

2019-2024: Population: Growth Rate 2.30 % 4.00 % 4.15 %

2019 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE

less than $15,000 301 3,410 6,701

$15,000-$24,999 314 2,940 5,633

$25,000-$34,999 390 4,799 7,637

$35,000-$49,999 482 5,334 9,079

$50,000-$74,999 966 8,459 15,213

$75,000-$99,999 709 6,375 11,583

$100,000-$149,999 734 6,867 14,713

$150,000-$199,999 278 3,096 7,458

$200,000 or greater 167 2,482 6,932

Median HH Income $65,409 $63,617 $70,993

Average HH Income $80,948 $84,722 $94,841

HOUSEHOLDS 1 MILE 3 MILE 5 MILE

2000 Total Housing 4,357 41,247 73,803

2010 Total Households 4,210 40,840 78,510

2019 Total Households 4,340 43,762 84,948

2024 Total Households 4,425 45,422 88,314

2019 Average Household Size 3.16 3.06 2.96

2000 Owner Occupied Housing 2,558 23,836 46,364

2000 Renter Occupied Housing 1,652 16,158 25,022

2019 Owner Occupied Housing 2,528 23,983 51,272

2019 Renter Occupied Housing 1,812 19,779 33,677

2019 Vacant Housing 215 1,846 3,438

2019 Total Housing 4,555 45,608 88,386

2024 Owner Occupied Housing 2,598 24,986 53,598

2024 Renter Occupied Housing 1,827 20,436 34,716

2024 Vacant Housing 218 1,843 3,445

2024 Total Housing 4,643 47,265 91,759

2019-2024: Households: Growth Rate 1.95 % 3.75 % 3.90 %

Source: esri

4 Units Demographics | 22

2019 POPULATION BY AGE 1 MILE 3 MILE 5 MILE

2019 Population Age 30-34 1,095 11,496 20,361

2019 Population Age 35-39 1,002 9,598 17,787

2019 Population Age 40-44 838 7,764 15,026

2019 Population Age 45-49 862 7,654 14,832

2019 Population Age 50-54 891 7,727 14,969

2019 Population Age 55-59 923 8,034 15,771

2019 Population Age 60-64 817 7,155 14,108

2019 Population Age 65-69 600 5,759 11,655

2019 Population Age 70-74 435 4,371 8,991

2019 Population Age 75-79 260 3,136 6,314

2019 Population Age 80-84 178 2,323 4,639

2019 Population Age 85+ 196 3,289 6,451

2019 Population Age 18+ 10,679 103,968 194,696

2019 Median Age 35 34 36

2019 INCOME BY AGE 1 MILE 3 MILE 5 MILE

Median Household Income 25-34 $57,922 $57,878 $64,665

Average Household Income 25-34 $74,847 $77,353 $85,931

Median Household Income 35-44 $73,374 $75,752 $86,623

Average Household Income 35-44 $86,390 $94,094 $108,578

Median Household Income 45-54 $77,386 $78,106 $91,390

Average Household Income 45-54 $93,121 $99,224 $116,350

Median Household Income 55-64 $76,160 $74,989 $82,567

Average Household Income 55-64 $88,342 $94,350 $106,767

Median Household Income 65-74 $63,584 $60,903 $64,021

Average Household Income 65-74 $76,322 $82,338 $87,323

Average Household Income 75+ $56,157 $62,184 $60,433

2024 POPULATION BY AGE 1 MILE 3 MILE 5 MILE

2024 Population Age 30-34 1,198 11,574 21,603

2024 Population Age 35-39 1,125 11,218 20,960

2024 Population Age 40-44 1,016 9,511 17,884

2024 Population Age 45-49 824 7,661 14,680

2024 Population Age 50-54 836 7,479 14,458

2024 Population Age 55-59 839 7,468 14,496

2024 Population Age 60-64 839 7,573 14,990

2024 Population Age 65-69 700 6,626 13,309

2024 Population Age 70-74 534 5,333 10,859

2024 Population Age 75-79 370 4,087 8,304

2024 Population Age 80-84 196 2,691 5,407

2024 Population Age 85+ 195 3,332 6,547

2024 Population Age 18+ 11,061 109,016 204,486

2024 Median Age 37 36 37

2024 INCOME BY AGE 1 MILE 3 MILE 5 MILE

Median Household Income 25-34 $63,621 $68,508 $77,771

Average Household Income 25-34 $86,602 $91,318 $102,786

Median Household Income 35-44 $83,768 $87,963 $102,198

Average Household Income 35-44 $101,346 $111,374 $128,076

Median Household Income 45-54 $88,662 $90,425 $105,619

Average Household Income 45-54 $110,883 $115,989 $134,950

Median Household Income 55-64 $81,649 $82,678 $93,661

Average Household Income 55-64 $101,680 $109,280 $124,393

Median Household Income 65-74 $69,867 $70,281 $76,211

Average Household Income 65-74 $87,233 $97,172 $105,159

Average Household Income 75+ $63,939 $73,937 $73,085

4 Units Demographic Charts | 23

1 Mile Radius 3 Mile Radius 5 Mile Radius

2019 Household Income

1 Mile Radius 3 Mile Radius 5 Mile Radius

2019 Population by Race

4 Units Demographic Charts | 24

2019 Household Occupancy - 1 Mile Radius

Average Income Median Income

2019 Household Income Average and Median

4 Units

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Exclusively Marketed by:

Gary Kaufman, CCIM Vice President619-906-2129Kaufman@scc1031.comDRE#01816761