An Orange County firm has purchased the gated Sunset Cliffs Apartment community in Vista for $13.6 million.
The 52-unit complex includes 11 buildings consisting of a mix of single-story cottage and two-story townhome-style units.
Dunbar Residential Investments, LLC acquired the property from 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,” Bridge said. “The asset makes a great addition to help diversify Dunbar’s real estate portfolio.”
Located at 180-200 Terrace Drive and originally built in 1987, the apartments sit on a four-acre lot. The units include 28 one-bed, one-bath in a cottage style, 23 one-bed, one-bath in a townhouse style, and a one-bed, one-bath with an attached office.
Property amenities include a gym, clubhouse, covered carports and on-site laundry.
The cottages have enclosed patios and in wall air conditioning units. The property also features circular walkways around the cul-de-sac shaped property.