| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 63rd | Good |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1400 Ridgeback Rd, Chula Vista, CA, 91910, US |
| Region / Metro | Chula Vista |
| Year of Construction | 2000 |
| Units | 94 |
| Transaction Date | 2001-06-12 |
| Transaction Price | $9,450,000 |
| Buyer | HCA EASTLAKE APARTMENTS LLC |
| Seller | HCA ARBORS APARTMENTS LLC |
1400 Ridgeback Rd Chula Vista Multifamily Investment
Inner-suburb location with high-cost ownership and steady neighborhood occupancy supports renter demand, according to WDSuite s CRE market data. The area shows a modest but durable renter-occupied share, favoring stable leasing over volatility.
Positioned in Chula Vista s inner suburbs, the neighborhood is rated A- and ranks 130 out of 621 metro neighborhoods placing it in the top quartile among San Diego-Chula Vista-Carlsbad areas for overall fundamentals. Elevated home values (92nd percentile nationally) indicate a high-cost ownership market that tends to reinforce reliance on multifamily housing and supports pricing power for well-positioned assets.
Amenity access is favorable for daily needs, with groceries, restaurants, parks, and pharmacies each around the 90th percentile nationally, while cafes are relatively sparse. Childcare availability is also strong (around the 90th percentile), which can benefit family-oriented renter demand and retention.
Renter-occupied housing accounts for a smaller share of units in this neighborhood, which suggests a defined but stable tenant base rather than a transient one. Neighborhood occupancy trends sit near balanced levels, helping support steady cash flow management without relying on outsized concessions. The property s 2000 vintage is newer than the neighborhood s average 1987 construction year, which can provide a competitive edge versus older stock; investors should still plan for modernization of aging systems and select common-area upgrades as part of capital planning.
Within a 3-mile radius, population and household counts have expanded over the past five years, with forecasts calling for further growth. This trajectory, combined with an upper-income profile and contract rents that are elevated relative to national norms (94th percentile), points to a larger tenant base and supports occupancy stability. Based on commercial real estate analysis from WDSuite, rent-to-income sits near national mid-range, suggesting manageable affordability pressure and aiding lease retention.
Safety indicators are mixed and should be monitored. The neighborhood s crime rank sits toward the lower end of the metro distribution (65 out of 621), signaling that crime levels are higher than many San Diego-Chula Vista-Carlsbad neighborhoods. Nationally, both violent and property offense rates benchmark in lower percentiles, indicating below-average safety compared with neighborhoods nationwide.
Recent momentum is constructive: estimated violent offense rates show a sharp year-over-year decline (top decile for improvement nationally), and property offenses have trended down as well. For underwriting, investors may consider security enhancements and active tenant engagement while recognizing the improving trajectory.
The employment base mixes energy, defense & aerospace, food distribution, biopharma, and wireless technology a diverse set of industries that supports workforce housing demand and commute convenience from the neighborhood.
- Sempra Energy energy utilities (9.99 miles)
- L-3 Telemetry & RF Products defense & aerospace (14.37 miles)
- Sysco food distribution (20.24 miles)
- Celgene Corporation biopharma (20.45 miles)
- Qualcomm wireless technology (20.60 miles) HQ
This 94-unit asset at 1400 Ridgeback Rd benefits from a high-cost ownership landscape and broad amenity coverage that sustain renter demand. Within a 3-mile radius, growing population and household counts point to a larger tenant base ahead, while neighborhood occupancy trends are generally balanced, supporting stable leasing. Based on CRE market data from WDSuite, rents benchmark well above national norms, yet rent-to-income sits near the national mid-range a combination that supports pricing while keeping retention manageable.
Built in 2000, the property is newer than the neighborhood s 1987 average, offering relative competitiveness versus older stock. Investors should plan for targeted modernization and systems updates to capture value-add potential and to meet current renter expectations. Safety metrics trail national averages but show meaningful recent improvement, which can be reinforced through on-site management and property-level measures.
- High-cost ownership market reinforces sustained multifamily demand and supports pricing power
- Newer 2000 vintage versus local 1987 average provides competitive positioning with selective value-add upside
- 3-mile population and household growth expand the renter pool, supporting occupancy stability
- Rents benchmark high nationally while rent-to-income sits near mid-range, aiding retention and lease management
- Risk: Safety benchmarks below national averages despite recent improvement underwrite for security and active management