| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 21st | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1311 4th Ave, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1986 |
| Units | 33 |
| Transaction Date | 2023-07-24 |
| Transaction Price | $10,147,000 |
| Buyer | F & F BASSWOOD LP |
| Seller | SUN AN SEA PROPERTIES |
1311 4th Ave Chula Vista Multifamily Investment
Renter demand is supported by an amenity-rich Urban Core location and neighborhood occupancy that has held above the metro median, according to WDSuite’s CRE market data.
Located in Chula Vista’s Urban Core within the San Diego–Chula Vista–Carlsbad metro, the property benefits from strong daily-needs access and a dense food-and-beverage scene. Neighborhood cafe and restaurant density ranks among the top quartile nationally, and grocery access is similarly strong. Parks are also accessible, adding to day-to-day livability for renters and supporting leasing velocity.
From an income and operations standpoint, the neighborhood’s average NOI per unit sits in the top decile nationally, and occupancy is above the metro median and competitive among 621 metro neighborhoods. These are neighborhood-level indicators measured for the area, not the property, but they point to a stable renter base and support for pricing discipline.
Vintage is relevant: built in 1986, the asset is slightly newer than the neighborhood’s average stock. That positioning can be competitive versus older buildings while still warranting capital planning for aging systems and targeted renovations to sustain curb appeal and tenant retention.
Tenure dynamics skew toward renters, with a high share of housing units renter-occupied in the neighborhood. For investors, that translates into a deeper tenant pool and fewer leasing gaps in typical turnover seasons. At the same time, a high value-to-income environment in the metro reinforces reliance on multifamily housing, which can support occupancy stability and renewal rates.
Within a 3-mile radius, demographics show modest population softening alongside growth in household counts and rising incomes. The combination of smaller household sizes and an increasing number of households supports a larger tenant base over time, while projected rent levels remain aligned with an urban coastal market profile. These trends, based on CRE market data from WDSuite, are consistent with sustained renter demand even as households adjust living arrangements.
Neighborhood safety indicators are below national medians, with crime levels elevated relative to many San Diego–Chula Vista–Carlsbad subareas. Compared with neighborhoods nationwide, the area does not land in the top quartile for safety; however, recent year-over-year trends show declines in both property and violent offense rates, indicating improving conditions. Rankings referenced are measured against 621 neighborhoods in the metro and reflect neighborhood-level statistics, not property-specific risk.
For underwriting, investors often respond to this profile with enhanced on-site lighting, access control, and resident engagement to support retention and protect common areas. Monitoring trend direction remains important, as the area’s improvement trajectory can contribute to leasing stability even if baseline safety starts below the metro average.
Proximity to regional employers supports workforce housing demand and commute convenience, particularly to energy infrastructure, aerospace/defense, biotech, and telecommunications offices listed below.
- Sempra Energy — energy infrastructure offices (8.9 miles)
- Sempra Energy — energy infrastructure offices (9.6 miles) — HQ
- L-3 Telemetry & RF Products — aerospace/defense (15.4 miles)
- Celgene Corporation — biotechnology (21.0 miles)
- Qualcomm — telecommunications (21.4 miles) — HQ
- Sysco — foodservice distribution (22.9 miles)
1311 4th Ave offers investors exposure to an amenity-rich Urban Core with neighborhood occupancy that trends above the metro median and competitive among 621 metro neighborhoods. Built in 1986, the asset’s vintage is slightly newer than average locally, supporting relative competitiveness versus older stock while leaving room for targeted value-add to modernize interiors and building systems.
Neighborhood-level indicators point to durable renter demand: a high renter-occupied share of housing units, strong average NOI per unit (top decile nationally), and elevated ownership costs that reinforce reliance on multifamily. Within a 3-mile radius, households are increasing even as population softens, implying smaller household sizes and a broader tenant base. According to CRE market data from WDSuite, rent levels and incomes align with coastal urban dynamics, suggesting retention can be maintained with careful lease management where rent-to-income ratios create affordability pressure.
- Occupancy above metro median and competitive among 621 neighborhoods supports leasing stability.
- 1986 vintage offers value-add potential while remaining competitive versus older stock.
- High renter concentration and strong neighborhood NOI per unit indicate depth of tenant demand.
- Amenity-rich location (food, groceries, parks) bolsters day-to-day livability and retention.
- Risks: below-median safety metrics, affordability pressure, and limited nearby childcare/pharmacy options warrant proactive management.