| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 21st | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1470 2nd Ave, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1973 |
| Units | 74 |
| Transaction Date | --- |
| Transaction Price | $2,850,000 |
| Buyer | OWNERSHIP NAME INFORMATION |
| Seller | --- |
1470 2nd Ave, Chula Vista Multifamily Investment
Neighborhood occupancy is strong and renter demand is deep for this 74-unit asset, according to WDSuite’s CRE market data, supporting stable leasing in an Urban Core pocket of South Bay San Diego.
The surrounding neighborhood shows durable renter demand with occupancy in the upper range for the metro and nationally above average. Renter-occupied housing comprises a significant share of units (neighborhood metric, not property-specific), indicating a broad tenant base that can support absorption and retention in typical market cycles.
Daily-life amenities are a relative strength: restaurants and cafes are dense by regional standards (neighborhood metrics), and grocery access is competitive. Parks are also accessible. However, childcare and pharmacy presence rank lower in the area, which investors should factor into resident services positioning and marketing.
Home values sit in a high-cost ownership market for the neighborhood relative to incomes, which tends to sustain demand for rental housing and can bolster pricing power and lease-up consistency for well-positioned assets. At the same time, a higher rent-to-income ratio at the neighborhood level suggests some affordability pressure, reinforcing the importance of thoughtful lease management.
Demographic statistics aggregated within a 3-mile radius indicate modest recent population growth alongside an increase in total households, expanding the local tenant base. Forward-looking estimates point to smaller average household sizes over time, which can support steady demand for professionally managed apartments as more households seek rental options. These trends are consistent with multifamily property research patterns seen in mature West Coast markets.
The asset’s 1973 vintage is older than the neighborhood average construction year. For investors, this typically implies capital planning for systems and interiors, but also potential value-add and repositioning upside versus newer competing stock.
Safety indicators for the neighborhood are mixed compared with national benchmarks. Overall crime levels sit below the national median for safety (lower national percentile), and violent and property offense rates are also weaker versus many U.S. neighborhoods. That said, recent year-over-year trends show improvement, with declines in both violent and property offenses, which is a constructive directional signal. Within the San Diego–Chula Vista–Carlsbad metro (621 neighborhoods), the neighborhood’s crime rank places it competitive among many submarkets but not in the metro’s top tier for safety.
Investors should underwrite with prudent security and operations planning—lighting, access controls, and community engagement—while noting the improving trajectory that may support resident retention and leasing stability.
Proximity to established regional employers supports a steady renter pool and commute convenience, particularly for utilities, defense/aerospace, biotech, and wireless communications roles referenced below.
- Sempra Energy — utilities (9.3 miles)
- Sempra Energy — utilities (10.0 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (15.7 miles)
- Celgene Corporation — biotechnology (21.3 miles)
- Qualcomm — wireless & semiconductors (21.7 miles) — HQ
1470 2nd Ave is a 74-unit, 1973-vintage community positioned in an Urban Core location where neighborhood occupancy is elevated and renter concentration is substantial. Amenity density (restaurants, cafes, groceries, parks) is a relative advantage, while home values at the neighborhood level remain high versus incomes—factors that generally reinforce reliance on rental housing and support pricing power for well-maintained product.
Based on CRE market data from WDSuite, the neighborhood’s occupancy and NOI-per-unit benchmarks compare favorably within the metro, pointing to durable demand drivers. Demographic statistics within a 3-mile radius show increasing households and a trend toward smaller household sizes over the forecast window, expanding the renter pool. The property’s older vintage suggests value-add potential—modernizations can further differentiate versus aging peer stock—while underwriting should account for affordability pressure and measured safety positioning.
- Elevated neighborhood occupancy supports leasing stability
- High-cost ownership context underpins multifamily demand and retention
- Amenity-rich setting (food, cafes, parks, groceries) enhances livability
- 1973 vintage offers value-add and modernization upside
- Risks: neighborhood affordability pressure and below-average national safety metrics