| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Poor |
| Demographics | 28th | Poor |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1035 4th Ave, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1982 |
| Units | 55 |
| Transaction Date | 2013-05-22 |
| Transaction Price | $9,600,000 |
| Buyer | PALMER JOHN |
| Seller | SHINTAKU MASAAKI |
1035 4th Ave, Chula Vista Multifamily Investment
Neighborhood renter concentration supports a stable tenant base amid a high-cost ownership market, according to WDSuite's CRE market data. Occupancy has trended upward locally while rent levels sit above national norms, suggesting durable demand with careful lease management.
The property sits in an Urban Core pocket of Chula Vista with a neighborhood rating of B-. Amenity access is a relative strength: by metro ranking, the area is in the top quartile among 621 neighborhoods for overall amenities, and cafes, restaurants, and pharmacies rank competitively as well. Grocery access is above the metro median, though neighborhood parks are limited, which can factor into lifestyle preferences and marketing positioning.
Multifamily fundamentals show mixed signals. Neighborhood occupancy has improved over the past five years but remains below the national midpoint, pointing to the need for thoughtful operations and leasing strategy. At the same time, the share of renter-occupied housing units is elevated (among the highest nationally), indicating deep renter demand that can support absorption and retention during typical turnover cycles.
Ownership costs in the surrounding neighborhood are elevated relative to incomes (high national percentiles for home values and value-to-income ratio), which generally sustains reliance on multifamily housing and supports pricing power, especially for well-maintained product. Rent levels benchmark above national norms, so monitoring rent-to-income ratios is prudent to manage retention risk.
Within a 3-mile radius, demographics indicate recent population stability with modest household growth and forecasts showing more households alongside smaller household sizes. That combination can expand the renter pool even if population growth softens, supporting occupancy stability and steady leasing. Average school ratings track below the national midpoint, which may matter less for studios/1-bed demand but can influence marketing for larger floor plans.
Vintage positioning: the neighborhood's average construction year skews early-1970s, while this asset was built in 1982. Being newer than much of the local stock can be an advantage versus older comparables, though investors should still plan for system modernization and selective renovations to sharpen competitive appeal.
Safety indicators warrant a balanced view. The neighborhood's crime rank is 227th out of 621 metro neighborhoods, indicating higher crime relative to the region. Nationally, overall safety sits below the median, and violent-offense measures track in lower percentiles compared to neighborhoods nationwide.
Trend-wise, property offenses show a notable year-over-year decline (strong improvement by national comparison), which is a constructive signal for near-term perception and operations. Investors should underwrite with standard precautions - lighting, access control, and community engagement - and track local trends over time rather than relying on block-level assumptions.
Regional employment is diversified across energy utilities, defense and aerospace, biopharma, and semiconductors, supporting commuter demand and lease retention for workforce and middle-income renters. The following nearby employers anchor that base:
- Sempra Energy — energy utilities (8.2 miles)
- Sempra Energy — energy utilities (8.9 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (14.7 miles)
- Celgene Corporation — biopharma (20.3 miles)
- Qualcomm — semiconductors (20.7 miles) — HQ
1035 4th Ave offers investors exposure to a renter-heavy Urban Core in Chula Vista where elevated ownership costs reinforce reliance on multifamily housing. According to CRE market data from WDSuite, neighborhood occupancy has improved over five years while rent levels track above national norms, suggesting resilient demand if leases are priced and managed with attention to rent-to-income thresholds. The asset's 1982 vintage is newer than much of the local 1970s stock, positioning it to compete effectively with selective capital improvements.
Within a 3-mile radius, recent household growth and forecasts for more households alongside smaller household sizes point to a broader tenant base even if population growth moderates. Strong amenity access at the metro level and proximity to diversified employers further support leasing velocity and retention, while operational focus on safety perception and affordability pressure will be key to sustaining performance.
- Deep renter base in the neighborhood supports absorption and retention
- 1982 vintage offers competitive positioning versus older local stock with value-add potential
- Amenity access ranks well in the metro, aiding marketing and leasing
- Risk: below-median safety metrics require continued focus on security and community engagement
- Risk: elevated rent-to-income ratios call for careful lease management to sustain retention