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223 Vista Glen Lane, Vista, California 92084, Vista, 92084 - 3 bed, 1 bath

223 Vista Glen Lane, Vista, California 92084 home-pic-0
ACTIVE$769,000
223 Vista Glen Lane, Vista, California 92084
3Beds
1Bath
1,176Sqft
10,774Lot

Price Vs. Estimate

The estimated value ($635,914.88) is $133,085.12 (17%) lower than the list price ($769,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10774, living area = 1176.
Top Cons:
Extensive Renovation Required: The existing 1959-built home is explicitly described as a 'FIXER' and 'in need of full remodel,' requiring significant capital investment and time.

Compared to the nearby listings

Price:$769.0K vs avg $950.0K ($-181,000)18%
Size:1,176 sqft vs avg 1,934 sqft12%
Price/sqft:$654 vs avg $51187%

More Insights

Built in 1959 (66 years old).
Condition: Built in 1959, this property is explicitly marketed as a 'FIXER' and 'in need of full remodel.' The interior images reveal worn, outdated carpets and a bathroom that, despite a newer vanity, features old, dirty tiles and a dated shower enclosure. The overall infrastructure is likely original and requires substantial rehabilitation, including major system replacements, to meet current standards. While 'livable,' it is far from move-in ready and demands significant investment.
Year Built
1959
Close
-
List price
$769K
Original List price
$849K
Price/Sqft
$654
HOA
-
Days on market
-
Sold On
-
MLS number
NDP2506738
Home ConditionPoor
Features
ViewNeighborhood

About this home

FIXER! Now Vacant. Home comes with plans ready to submit for duplex that will fit in rear yard with access from easement. 2x3br/2ba with two 2 car garages identical to the two duplexes across the street at 226/228 Vista Glen. Existing older 3br/2ba in need of full remodel. Single story with perfect floorplan is vacant and livable but in need of upgrading to get to market or owner occupied status. Value is in the 10K SF lot zoned R-21. New units would rent at $3,300 per unit for total project rent of $9,900 per month. Or Seller states you can easily add a modular 24X60 home in rear yard that would rent for $3,500 per month in addition to front home. Access from vista glen easement would make a 1440 SF modular home an easy addition. Potential for an easy 7 cap property with remodel and addition. Development potential! Zoning is R-21! Seller owns and built units across the street and will allow potential buyer to view the finished product.

Condition Rating
Poor
Built in 1959, this property is explicitly marketed as a 'FIXER' and 'in need of full remodel.' The interior images reveal worn, outdated carpets and a bathroom that, despite a newer vanity, features old, dirty tiles and a dated shower enclosure. The overall infrastructure is likely original and requires substantial rehabilitation, including major system replacements, to meet current standards. While 'livable,' it is far from move-in ready and demands significant investment.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10774, living area = 1176.
Significant Development Potential: The R-21 zoning on a generous 10,774 sqft lot allows for the addition of a duplex (with ready-to-submit plans) or a modular home, offering substantial expansion and income opportunities.
High Income-Generating Capacity: Projected rental income of $9,900/month for a duplex or $3,500/month from a modular addition plus the front home, indicating strong ROI potential (7-cap property).
Seller's Proven Track Record & Support: The seller has successfully developed identical units across the street and offers buyers the opportunity to view them, providing valuable insight and a potential blueprint for success.
Vacant and Flexible for Renovation: The property is currently vacant and livable, allowing for immediate occupancy or a smooth, unhindered renovation process without tenant displacement issues.
Large, Developable Lot: A generous 10,774 sqft lot provides ample space for the proposed additional units and offers flexibility for various development strategies.

Cons

Extensive Renovation Required: The existing 1959-built home is explicitly described as a 'FIXER' and 'in need of full remodel,' requiring significant capital investment and time.
Outdated Infrastructure: As a 1959 build, the property likely has original systems (plumbing, electrical, HVAC) that are outdated and will require comprehensive replacement during renovation.
Limited Bathroom Count: The current 3-bedroom home features only 1 bathroom, which is insufficient for modern living standards and will necessitate an expansion or addition during the remodel.

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