| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Poor |
| Demographics | 36th | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 144 Garrett Ave, Chula Vista, CA, 91910, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1978 |
| Units | 34 |
| Transaction Date | --- |
| Transaction Price | $1,413,000 |
| Buyer | OWNERSHIP NAME INFORMATION |
| Seller | --- |
144 Garrett Ave, Chula Vista CA Multifamily Investment
Renter demand is supported by a high renter-occupied share in the neighborhood and strong everyday amenities, according to WDSuite’s CRE market data. Ownership costs in the area are elevated, which tends to sustain reliance on multifamily housing and supports lease retention.
This Urban Core pocket of Chula Vista offers daily convenience that matters to tenants: neighborhood data indicate abundant grocery options (near the top nationally) and strong park access, while restaurants are also dense for the metro. By contrast, cafes and pharmacies are limited, so resident shopping trips may skew toward larger-format grocers and general retailers.
Within a 3-mile radius, households have grown in recent years despite a small dip in population, pointing to smaller household sizes and a broader renting cohort. Forward-looking 3-mile data show increases in population and households through the next cycle, which typically supports a larger tenant base and steadier absorption for multifamily.
The neighborhood’s renter-occupied share is high, signaling depth in the tenant pool and ongoing leasing velocity for workforce-oriented product. At the same time, neighborhood occupancy has softened relative to national norms, so operators should budget for more active leasing and renewals to sustain performance.
Home values in the area are elevated versus many U.S. neighborhoods, which generally reinforces rental demand and supports pricing power for well-managed assets. Rent-to-income measures remain manageable locally, suggesting affordability pressure is not extreme and can aid resident retention, especially with disciplined renewal strategies.
Built in 1977, the property is slightly newer than the neighborhood’s average vintage. That positioning can be competitive against older stock, while still leaving room for targeted modernization and value-add upgrades to common areas, unit interiors, and building systems over the hold period.
Safety indicators for the neighborhood trend below national averages, with violent and property offense rates elevated compared to many U.S. neighborhoods. For context, recent estimates show property offenses declining year over year, indicating some improvement, though conditions warrant prudent security measures and resident communication.
Investors should underwrite for practical mitigation: lighting and access control, partnership with local patrols, and staggered upgrades that enhance perceived safety without overcapitalizing. Framing leasing around proximity to major employment and daily amenities can also help support demand even as safety metrics evolve.
Proximity to established employers helps support renter demand through commute convenience and job diversity, notably in energy, life sciences, defense, and technology. Nearby anchors include Sempra Energy, L-3 Telemetry & RF Products, Celgene, and Qualcomm.
- Sempra Energy — energy infrastructure (6.1 miles)
- Wells Fargo ATM — financial services (6.6 miles)
- Sempra Energy — energy infrastructure (6.8 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (12.5 miles)
- Celgene Corporation — biotechnology (18.1 miles)
- Qualcomm — communications technology (18.5 miles) — HQ
144 Garrett Ave is a 34-unit multifamily asset with functional average unit sizes, positioned in an Urban Core neighborhood where renter concentration is high and daily-needs amenities are strong. Elevated home values in the area reinforce rental reliance, while rent-to-income metrics suggest manageable affordability pressure that can support renewal outcomes. Based on CRE market data from WDSuite, neighborhood occupancy has been softer than national norms, so execution will hinge on active leasing and resident retention.
Constructed in 1977, the property is slightly newer than the local average vintage, offering a useful balance of competitive positioning versus older stock and tangible value-add potential through interior updates and system modernization. The nearby base of employers in energy, defense, biotech, and technology provides diversified demand drivers that can underpin absorption through cycles.
- High renter-occupied share supports depth of tenant demand and leasing velocity.
- Strong grocery and park access with dense restaurant options supports livability and retention.
- 1977 vintage offers value-add runway while remaining competitive versus older area stock.
- Diverse nearby employers (energy, defense, biotech, tech) provide multi-cycle demand support.
- Risks: below-average safety metrics and softer neighborhood occupancy require proactive leasing, security, and expense discipline.