| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Poor |
| Demographics | 15th | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1501 Broadway, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 2009 |
| Units | 42 |
| Transaction Date | 2007-07-20 |
| Transaction Price | $2,772,000 |
| Buyer | LOS VECINOS LP |
| Seller | JUNG CHARLES |
1501 Broadway, Chula Vista Multifamily Investment
Positioned in an inner-suburban pocket with steady renter demand and a tenant pool supported by nearby employment, this asset offers income durability relative to local alternatives, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb of the San Diego–Chula Vista–Carlsbad metro where neighborhood occupancy trends are near the national middle and the share of renter-occupied housing is high. That renter concentration (measured for the neighborhood, not the property) points to a broad tenant base and supports leasing stability, while still requiring attentive lease management given area affordability dynamics.
Livability signals are mixed. Grocery and dining access are competitive for the metro and land a strong position nationally, while parks, pharmacies, and childcare options are comparatively limited—considerations for family-oriented renters. School quality indicators for the neighborhood trail national norms, which may influence unit mix strategy and marketing toward workforce renters.
The asset’s 2009 construction is newer than the neighborhood’s average vintage (1980s stock), offering relative competitiveness on finishes and systems. Investors should still plan for mid-life capital items typical of late-2000s construction, but the vintage supports positioning against older comparables and can reduce near-term renovation intensity versus 1970s–1980s product.
Within a 3-mile radius, household counts have risen even as population edged lower, indicating smaller household sizes and a gradual shift toward more households—an underpinning for multifamily demand. Median contract rents in the neighborhood benchmark higher for the region and nationally, and home values remain more accessible than coastal submarkets, which can introduce some competition with entry-level ownership. Taken together, these dynamics suggest durable renter demand with moderate pricing power and a need to watch rent-to-income levels.
Neighborhood safety indicators trend below national percentiles, signaling elevated reported crime relative to many U.S. neighborhoods. However, recent year-over-year readings show improvement, with declines in both property and violent offenses, according to WDSuite’s CRE market data.
Compared with the San Diego–Chula Vista–Carlsbad metro’s 621 neighborhoods, this area is not among the top quartile for safety, but the downward trend in estimated offense rates over the last year is a constructive signal for investors monitoring operating risk and retention.
Proximity to regional employers in energy/utilities, defense & technology, and life sciences supports a broad commuter renter base and can aid retention through commute convenience. Nearby anchors include Sempra Energy, L-3 Telemetry & RF Products, Celgene, and Qualcomm.
- Sempra Energy — energy/utilities offices (8.9 miles)
- Sempra Energy — energy/utilities (9.7 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace offices (15.7 miles)
- Celgene Corporation — life sciences offices (21.2 miles)
- Qualcomm — telecommunications & semiconductors (21.6 miles) — HQ
This 42-unit, mid-size asset with average unit sizes near 836 sf balances scale and operational efficiency. Based on CRE market data from WDSuite, neighborhood occupancy sits around the national median while renter concentration is above national norms—conditions that typically support durable absorption and day-to-day leasing. The 2009 vintage is newer than surrounding stock, positioning the property competitively versus older assets while still warranting mid-life system planning rather than heavy repositioning.
Within a 3-mile radius, households are increasing even as population softens, expanding the tenant base and supporting occupancy stability. Local rent levels benchmark on the higher side regionally, so affordability pressure is a watch item; paired with safety metrics that trail national percentiles, proactive leasing, security, and resident experience programs will be important to sustain retention and pricing power.
- Newer 2009 construction versus area norms, reducing near-term renovation intensity and improving competitive positioning
- High neighborhood renter concentration supports demand depth and leasing stability
- Household growth within 3 miles expands the tenant base even as population trends soften
- Amenity access strong for groceries and dining, enhancing resident convenience
- Risks: below-national safety percentiles and elevated rent-to-income levels require active management and retention strategies