| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 65th | Good |
| Amenities | 41st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1905 E Palomar St, Chula Vista, CA, 91913, US |
| Region / Metro | Chula Vista |
| Year of Construction | 2008 |
| Units | 98 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1905 E Palomar St Chula Vista Multifamily Investment
Neighborhood occupancy is above the metro median, supporting stable renter demand near east Chula Vista, according to WDSuite’s CRE market data. With strong incomes in the area, this asset’s positioning favors retention over aggressive concessions.
Located in the San Diego-Chula Vista-Carlsbad metro, the immediate neighborhood carries a B+ rating and sits above the metro median (rank 228 of 621). Parks and grocery options score well versus national norms, while cafes and pharmacies are relatively sparse—a mix that supports daily needs but may modestly limit impulse foot traffic for any ground-floor retail. Average school ratings land in the top quartile nationally, an attribute that can reinforce family-oriented leasing.
For investors evaluating revenue durability, the neighborhood is a high-rent area paired with comparatively strong household incomes, based on CRE market data from WDSuite. Rent-to-income positioning suggests manageable affordability pressure for many renters in this submarket, supporting lease retention and measured pricing power rather than reliance on heavy concessions.
The property’s 2008 vintage is slightly newer than much of the nearby stock (neighborhood average around 2005). That can provide a competitive edge versus older assets while still allowing targeted modernization (systems, common areas, in-unit finishes) to capture incremental premiums without the extensive capex typical of older buildings.
Demographics aggregated within a 3-mile radius point to solid population and household growth over the past five years, with additional expansion forecast through 2028. The broader area leans owner-occupied, implying a comparatively smaller but durable renter base; combined with above-median neighborhood occupancy, this supports steady absorption and leasing stability for well-managed multifamily.
From an income-performance lens, neighborhood NOI per unit ranks among the highest in the metro (7th of 621), indicating that comparable assets in this area have historically produced strong operating income relative to peers.
Safety indicators are mixed but trending in a favorable direction. Within the San Diego-Chula Vista-Carlsbad metro, the area is not among the lowest-crime neighborhoods; national comparisons are closer to mid-pack overall. Importantly, recent year-over-year data show sharp declines in both violent and property incidents, suggesting improving operating conditions over the near term.
For underwriting, investors should assume standard loss-prevention and site security, while recognizing the improvement trend. As always, corroborate neighborhood aggregates with property-level controls and nearby comparables to calibrate risk.
Regional employers in energy, defense, food distribution, biotech, and wireless technology are within a practical drive, supporting a commuter-friendly renter base and potential lease retention for professionally managed assets.
- Sempra Energy — energy & utilities (12.6 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace electronics (16.3 miles)
- Sysco — food distribution (21.8 miles)
- Celgene Corporation — biotech/pharma (22.5 miles)
- Qualcomm — wireless technology (22.6 miles) — HQ
This 98-unit, 2008-vintage property benefits from above-median neighborhood occupancy and a high-income renter pool, supporting stable operations and measured rent growth. The asset is slightly newer than much of the surrounding stock, offering competitive positioning with scope for focused value-add upgrades rather than heavy-capex overhauls, according to commercial real estate analysis informed by WDSuite’s data.
Within a 3-mile radius, population and household counts have been expanding and are projected to continue through 2028—an outlook that points to a larger tenant base and supports occupancy stability. While the broader area skews owner-occupied, neighborhood-level income performance for comparable assets has been strong, indicating demand depth when product quality and management execution are aligned.
- Above-median neighborhood occupancy underpins consistent leasing and reduces concession reliance
- 2008 vintage offers competitive positioning with targeted modernization potential
- Expanding 3-mile population and households support a growing renter base and retention
- High-rent submarket balanced by strong local incomes supports pricing discipline
- Risks: owner-leaning tenure and uneven amenities require precise marketing and asset-level execution