| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Poor |
| Demographics | 15th | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1486 Broadway, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1977 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1486 Broadway Chula Vista Multifamily Investment
This 60-unit property built in 1977 serves a neighborhood with 91.5% occupancy and strong renter demand, supported by commercial real estate analysis from WDSuite showing 55% of housing units are rental-occupied.
Located in Chula Vista's inner suburban environment, this neighborhood demonstrates solid rental fundamentals with 55% of housing units renter-occupied, ranking in the top quartile nationally among neighborhoods. The area maintains 91.5% occupancy rates, providing stability for multifamily operators despite modest demographic pressures.
Within a 3-mile radius, the area serves 181,321 residents with median household income of $72,414, representing 44% growth over five years. Contract rents average $1,761 with 39% appreciation during the same period. While the neighborhood ranks in the lower half among San Diego's 621 neighborhoods for overall demographics, the substantial renter base and income growth support sustained rental demand.
The 1977 construction year aligns with neighborhood averages, indicating potential value-add opportunities through targeted renovations and unit improvements. Amenity access includes strong restaurant and grocery density, with 21 restaurants and 7 grocery stores per square mile, supporting tenant retention in this established residential area.
Forward-looking demographics show household growth projected at 34% through 2028, with median income expected to reach $103,473. This expansion in the renter pool, combined with rent projections of $2,323, suggests continued upward pressure on rental rates and occupancy stability.
Property crime rates in this neighborhood rank 570th among San Diego's 621 neighborhoods, placing it in the 3rd percentile nationally. However, crime trends show improvement with property offenses declining 39% year-over-year, ranking in the 80th percentile nationally for crime reduction.
Violent crime rates rank 603rd locally and 2nd percentile nationally, though violent offenses decreased 11% over the past year. Investors should factor security considerations into operational planning and tenant screening, while noting the positive trajectory in both crime categories suggests improving neighborhood conditions.
The property benefits from proximity to major San Diego employers, including energy and technology companies that provide workforce housing demand within reasonable commuting distance.
- Sempra Energy — utilities and energy services (8.9 miles)
- Sempra Energy — utilities and energy services (9.6 miles) — HQ
- L-3 Telemetry & RF Products — defense and aerospace (15.7 miles)
- Qualcomm — technology and telecommunications (21.6 miles) — HQ
- Celgene Corporation — biotechnology and pharmaceuticals (21.1 miles)
This 60-unit property from 1977 offers value-add potential in a neighborhood with strong rental fundamentals, supported by 91.5% occupancy rates and 55% renter-occupied housing units. CRE market data from WDSuite indicates household income growth of 44% over five years, reaching $72,414 median, while contract rents increased 39% to $1,761. The substantial renter base and projected 34% household growth through 2028 support continued rental demand.
The property's vintage aligns with neighborhood averages, presenting renovation upside opportunities to capture projected rent growth to $2,323 by 2028. While the area ranks in the lower half of San Diego neighborhoods demographically, improving crime trends and proximity to major employers like Sempra Energy and Qualcomm provide operational stability for long-term investors.
- Strong rental market with 55% renter occupancy and 91.5% neighborhood occupancy rates
- Income growth of 44% over five years supports rent appreciation potential
- Value-add opportunity through renovations of 1977-vintage units
- Projected 34% household growth through 2028 expands tenant base
- Risk consideration: Below-average neighborhood demographics and elevated crime rates require active management