| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 43rd | Poor |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 203 Sea Vale St, Chula Vista, CA, 91910, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1990 |
| Units | 104 |
| Transaction Date | 2014-01-01 |
| Transaction Price | $16,630,000 |
| Buyer | East Bradley Avenue LP |
| Seller | McMillin Family Trust |
203 Sea Vale St Chula Vista Multifamily Investment
This 104-unit property built in 1990 benefits from strong rental demand in a market where 56% of housing units are renter-occupied, well above the national average according to CRE market data from WDSuite.
This Inner Suburb neighborhood in Chula Vista ranks in the top quartile nationally for rental occupancy share at 56%, indicating robust tenant demand fundamentals. The area maintains an 87.2% occupancy rate, though this reflects some softening from recent highs. Median contract rents of $1,904 position the submarket at the 90th percentile nationally, demonstrating strong pricing power despite rent-to-income pressures that rank in the bottom quartile among San Diego metro neighborhoods.
Demographics within a 3-mile radius show a stable tenant base with 162,020 residents and forecasted household growth of 35.4% through 2028. The area's median household income of $74,551 is expected to rise to $108,445 over five years, supporting rental demand as home values averaging $718,293 maintain elevated ownership barriers. This dynamic reinforces renter reliance on multifamily housing despite affordability considerations.
The neighborhood ranks competitively for amenities among 621 San Diego metro neighborhoods, with adequate grocery access at 1.68 stores per square mile and restaurant density supporting tenant retention. School ratings average 3.0 out of 5, placing the area in the 61st percentile nationally. Construction vintage averaging 1972 aligns with the property's 1990 build date, suggesting consistent building stock without significant capital expenditure disadvantages.
Crime metrics position this neighborhood in the middle range among San Diego area locations, ranking 187th of 621 metro neighborhoods for overall crime rates. Property offense rates have declined 38.7% year-over-year, placing the area in the 80th percentile nationally for improvement trends. Violent crime rates remain moderate at 235 incidents per 100,000 residents, though this metric has increased 26.8% over the past year.
The mixed crime profile suggests investors should monitor security considerations as part of ongoing property management, particularly given the uptick in violent incidents. However, the significant decline in property crimes indicates improving conditions for asset protection and tenant retention in the immediate area.
The Chula Vista area benefits from proximity to major San Diego employers, providing workforce housing opportunities for commuting professionals and supporting consistent rental demand.
- Sempra Energy — energy services (6.1 miles) — HQ
- Wells Fargo ATM — financial services (6.6 miles)
- L-3 Telemetry & RF Products — defense & aerospace (12.2 miles)
- Celgene Corporation — biotechnology (17.8 miles)
- Qualcomm — technology (18.2 miles) — HQ
This 1990-built property offers value-add potential in a high-demand rental market where 56% of housing units are renter-occupied. The neighborhood's strong rental fundamentals are supported by elevated home values that maintain ownership barriers, while projected household growth of 35.4% through 2028 should expand the tenant pool. Commercial real estate analysis from WDSuite indicates median incomes are forecasted to rise 45.5% over five years, supporting rent growth potential despite current affordability pressures.
At 813 square feet average unit size, the property aligns with area norms while the 1990 construction year positions it newer than the neighborhood average, potentially reducing near-term capital expenditure needs. The location benefits from proximity to major employers including Sempra Energy headquarters and Qualcomm, providing workforce housing appeal for commuting professionals in San Diego's technology and energy sectors.
- Strong rental demand fundamentals with 56% renter occupancy share, well above national averages
- Projected 35.4% household growth through 2028 expanding tenant pool
- Elevated home values maintaining ownership barriers and rental demand
- Newer than average construction reducing near-term capital expenditure risk
- Risk consideration: Current rent-to-income pressures may limit aggressive rent growth in near term