| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 26th | Poor |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1055 Granjas Rd, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1988 |
| Units | 80 |
| Transaction Date | 2008-03-01 |
| Transaction Price | $7,575,000 |
| Buyer | The Meadows, Inc. |
| Seller | Rios Family Trust |
1055 Granjas Rd, Chula Vista Multifamily Investment
Neighborhood fundamentals point to steady renter demand and above-median occupancy for the San Diego metro, according to WDSuite’s CRE market data. The submarket’s high-cost ownership landscape supports leasing durability for well-maintained units.
This Urban Core neighborhood rates a C and ranks 470 of 621 in the San Diego–Chula Vista–Carlsbad metro, placing it below the metro median overall but with several investor-positive features. Occupancy at the neighborhood level sits in the mid-90s and is above the metro median, supporting baseline stability for professionally managed communities. Median contract rents have been rising faster than many U.S. areas (nationally high percentile), which, paired with a large renter base, can sustain pricing power when operations are disciplined.
The area shows strong proximity to daily-needs amenities: grocery store density ranks among the top locations metro-wide and is in the high national percentiles, while childcare access is similarly strong. However, cafes, parks, and pharmacies are sparse within the neighborhood itself, which may modestly affect walkable lifestyle appeal. School ratings average around 2.0/5 (below national norms), a factor to consider for family-oriented leasing strategies. These mixed livability signals suggest positioning the asset toward workforce and convenience-driven renters.
Vintage matters: the property’s 1988 construction is newer than the neighborhood’s average 1977 stock, enhancing competitive positioning versus older buildings. Investors should still plan for system upgrades and selective renovations to keep the asset current and to capture value-add upside. With an average unit size near 508 square feet, smaller-format layouts can align with cost-conscious renters and singles if common areas and in-unit finishes are kept market-relevant.
Tenure patterns point to depth in the renter pool: approximately three-quarters of housing units in the neighborhood are renter-occupied, indicating a strong concentration of renters and a broad base of prospective tenants. Within a 3-mile radius, households have grown recently and are projected to expand further even as average household size trends lower, implying more households and a larger tenant base over time. For multifamily property research, these trends indicate support for occupancy stability and ongoing leasing velocity.
Home values rank in the high national percentiles and the value-to-income ratio is elevated, characterizing a high-cost ownership market. This typically reinforces reliance on rental housing and can bolster lease retention and pricing power for well-located assets, though operators should monitor rent-to-income levels to manage potential affordability pressure and renewal risk.
Safety indicators are mixed and should be contextualized against regional patterns. The neighborhood’s crime rank sits in the lower half of San Diego’s 621 neighborhoods, and national percentiles indicate violent and property crime are higher than typical U.S. areas. At the same time, property crime has improved year over year by a substantial margin, a favorable directional signal to monitor over future periods.
For investors, the takeaway is to underwrite appropriate security measures and resident experience investments, while noting that recent improvement trends could support perception gains if sustained. Always evaluate block-level conditions through on-site diligence and time-of-day observations.
Regional employment anchors within commuting range support renter demand, particularly among energy, defense, biotech, and wireless sectors referenced below. These employers can underpin leasing stability for workforce-oriented units.
- Sempra Energy — energy utilities (8.2 miles)
- Sempra Energy — energy utilities (8.9 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (14.9 miles)
- Celgene Corporation — biotech (20.3 miles)
- Qualcomm — wireless & semiconductors (20.8 miles) — HQ
The property’s 1988 vintage is newer than much of the neighborhood stock, offering a competitive edge versus older assets while leaving room for selective system and finish upgrades to capture value-add upside. Neighborhood occupancy trends run above the metro median and the renter-occupied share is high, supporting a deeper tenant base and steadier lease-up. High ownership costs in the area tend to sustain renter reliance on multifamily housing, though rent-to-income levels warrant careful renewal strategies.
Within a 3-mile radius, households have increased recently and are projected to expand further as average household size trends lower, pointing to renter pool expansion and support for occupancy stability. According to CRE market data from WDSuite, neighborhood rent levels sit in high national percentiles, suggesting pricing power for well-run communities; operators should balance this with affordability and resident retention considerations. Directional improvement in property crime adds a positive trend to monitor.
- Newer 1988 construction relative to local stock, with renovation and systems-upgrade upside
- Above-median neighborhood occupancy and a large renter base support leasing stability
- High-cost ownership market reinforces renter demand and pricing power potential
- Expanding household counts within 3 miles indicate a growing tenant base over time
- Risks: affordability pressure, below-average school ratings, and safety that merits proactive management