| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Poor |
| Demographics | 27th | Poor |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1030 Broadway, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 2007 |
| Units | 30 |
| Transaction Date | 2013-08-19 |
| Transaction Price | $7,750,000 |
| Buyer | KREUTZKAMP CHARLES FREDERICK |
| Seller | PHARUS DEVELOPMENT GROUP LLC |
1030 Broadway Chula Vista Multifamily Investment
2007 vintage with a solid renter-occupied base at the neighborhood level supports durable leasing, according to WDSuite’s CRE market data. This analyst-focused commercial real estate analysis points to everyday amenities and larger unit formats as practical demand drivers.
Located in an inner-suburban pocket of Chula Vista, the property benefits from everyday convenience that supports renter retention. Neighborhood amenity access is a relative strength: grocery and pharmacy density sit in the top decile nationally, and cafes and restaurants are also above national medians. Park access and formal childcare options, however, are limited locally, which may influence the resident mix and family appeal.
The neighborhood’s renter-occupied share is elevated compared with many U.S. areas, signaling a deep tenant base for multifamily. At the same time, the neighborhood occupancy rate trends below national norms, suggesting investors should underwrite realistic lease-up timelines and focus on asset differentiation.
Within a 3-mile radius, households have increased modestly in recent years and are projected to expand further even as population trends edge slightly lower, implying smaller household sizes and a broader pool of renting households. Rising household incomes in the area, alongside rent levels that imply relatively manageable rent-to-income ratios, can support lease retention and reduce turnover risk.
The asset’s 2007 construction is newer than the neighborhood’s typical 1980s stock, offering competitive positioning versus older buildings while leaving room for targeted modernization as systems age. Neighborhood-level NOI per unit performance ranks competitively at the metro level, translating into constructive operating benchmarks for disciplined operators.
Safety indicators are mixed and should be evaluated in context. At the metro level, the neighborhood’s crime rank sits on the higher-incident side (ranked 137 among 621 metro neighborhoods), and national percentiles indicate below-average safety versus U.S. neighborhoods overall. That said, WDSuite’s data shows meaningful year-over-year improvement in both violent and property offense trends, with declines that place the neighborhood among stronger improvers nationally.
For underwriting, investors may want to emphasize security-forward operations, resident engagement, and visibility to continued trend improvement rather than relying on block-level conclusions. Comparative and trend-based assessment across nearby neighborhoods in the San Diego–Chula Vista–Carlsbad metro can further calibrate risk.
Regional employers within commuting distance—Sempra Energy, L-3 Telemetry & RF Products, Celgene, and Qualcomm—provide a diversified white-collar and technical employment base that supports leasing stability and renewals for workforce and professional renters.
- Sempra Energy — energy utility (8.0 miles)
- Sempra Energy — energy utility (8.7 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace offices (14.8 miles)
- Celgene Corporation — biopharma (20.2 miles)
- Qualcomm — telecommunications & semiconductors (20.7 miles) — HQ
1030 Broadway combines newer construction (2007) with larger average unit sizes, positioning it competitively against older neighborhood stock while allowing for selective upgrades to enhance rentability. Neighborhood renter concentration supports a stable tenant base, and within a 3-mile radius households are projected to grow as household sizes trend smaller—factors that can underpin occupancy and renewal performance. According to CRE market data from WDSuite, local amenity density (grocery, pharmacy, food & beverage) ranks well nationally, offering daily-life convenience that can aid retention even as schools rate below national medians.
Operating benchmarks warrant disciplined assumptions: neighborhood occupancy trends run softer than national norms, and safety metrics remain a consideration despite recent improvement. Balanced against these are competitive NOI-per-unit performance at the neighborhood level and ownership costs that are relatively high in the broader metro context, which can sustain reliance on rental housing and support pricing power for well-operated assets.
- 2007 vintage with larger floor plans provides competitive positioning versus older local stock and room for targeted value-add.
- Elevated renter-occupied share and projected household growth within 3 miles expand the tenant base and support occupancy stability.
- Strong everyday amenity access (grocery, pharmacy, dining) supports leasing and renewals.
- Neighborhood NOI-per-unit performance is competitive for operators focused on expense control and tenant retention.
- Risks: softer neighborhood occupancy, below-average school ratings, limited parks/childcare, and safety metrics that require proactive management.