| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 26th | Poor |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1025 Broadway, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1979 |
| Units | 119 |
| Transaction Date | 2019-06-21 |
| Transaction Price | $15,425,000 |
| Buyer | ST REGIS PARK CIC LP |
| Seller | ST REGIS PARK LP |
1025 Broadway Chula Vista Multifamily Investment
This 119-unit property built in 1979 operates in a neighborhood with 95.5% occupancy and strong rental demand, according to CRE market data from WDSuite.
This Urban Core neighborhood in Chula Vista demonstrates solid rental fundamentals with 95.5% occupancy ranking in the top quartile nationally among 621 metro neighborhoods. The area maintains 76.4% of housing units as renter-occupied, creating a substantial tenant base for multifamily operators. Median contract rents of $1,680 have increased 25% over five years, indicating pricing power in the local rental market.
The property's 1979 construction year aligns with the neighborhood average, potentially offering value-add opportunities through strategic renovations and unit improvements. Demographics within a 3-mile radius show a stable population of 157,000 residents with median household income of $73,000. Forecasted data suggests household growth of 36% by 2028, supporting long-term rental demand.
Local amenities support tenant retention with 7.95 grocery stores per square mile ranking in the 98th percentile nationally, and 5.3 childcare facilities per square mile also ranking in the 99th percentile. The neighborhood benefits from excellent grocery access and family services, though cafe and park amenities are limited. Home values averaging $713,000 with 78% appreciation over five years reinforce rental demand as ownership costs remain elevated relative to local incomes.
Crime metrics show mixed trends with property offense rates declining 44% year-over-year, ranking in the 84th percentile nationally for improvement. However, violent offense rates increased 39% over the same period. The neighborhood's overall crime rank of 259 out of 621 metro neighborhoods places it near the middle of the San Diego market for safety considerations.
Investors should monitor local crime trends as part of ongoing asset management, particularly for tenant retention and insurance considerations. The significant improvement in property crime rates suggests positive momentum, though continued vigilance on overall safety metrics remains prudent for multifamily operations.
The property benefits from proximity to major corporate employers in the San Diego metro, providing workforce housing opportunities for employees across energy, financial services, and technology sectors.
- Sempra Energy — energy utilities (8.1 miles)
- Wells Fargo ATM — financial services (8.6 miles)
- Sempra Energy — energy utilities HQ (8.8 miles)
- L-3 Telemetry & RF Products — defense & aerospace (14.8 miles)
- Qualcomm — technology HQ (20.7 miles)
This 119-unit property offers exposure to Chula Vista's stable rental market with neighborhood-level occupancy of 95.5% ranking in the top quartile nationally. The 1979 vintage presents value-add potential through strategic renovations, while strong grocery and childcare amenity access supports tenant retention. Forecasted household growth of 36% by 2028 within a 3-mile radius indicates expanding rental demand, though investors should monitor the mixed crime trends and moderate income levels in the immediate area.
Based on multifamily property research, the neighborhood's 76.4% renter occupancy rate and median home values of $713,000 create favorable conditions for sustained rental demand. Recent 25% rent growth over five years demonstrates pricing power, while the Urban Core location provides access to employment centers across the San Diego metro.
- High occupancy stability with 95.5% neighborhood-level performance
- Strong rental demand supported by 76.4% renter-occupied housing units
- Value-add potential from 1979 construction with renovation upside
- Forecasted 36% household growth by 2028 expanding tenant base
- Risk consideration: Mixed crime trends require ongoing monitoring