| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Poor |
| Demographics | 36th | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21 4th Ave, Chula Vista, CA, 91910, US |
| Region / Metro | Chula Vista |
| Year of Construction | 2000 |
| Units | 34 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
21 4th Ave Chula Vista Multifamily Near Employment Core
Renter concentration in the neighborhood supports durable tenant demand even as neighborhood occupancy trends are mixed, according to WDSuite s CRE market data. Positioned for steady leasing with proximity to jobs and everyday amenities.
This Urban Core location in Chula Vista offers daily convenience and connectivity that matters for multifamily performance. Amenity access is competitive among San Diego-Chula Vista-Carlsbad neighborhoods (145 out of 621, top quartile nationally), with strong density of grocery options and parks plus a broad restaurant base. Cafe and pharmacy availability is thinner locally, so residents rely more on nearby centers for those needs.
Renter-occupied housing makes up a large share of neighborhood units, indicating a deep tenant base that supports leasing stability for multifamily investors. Neighborhood occupancy is below national norms, so underwriting should prioritize effective marketing, competitive finishes, and management execution to capture demand at this property rather than assuming full stabilization from market lift alone.
Within a 3-mile radius, recent years show a slight population dip alongside growth in households, pointing to smaller household sizes and a broader pool of renters. Forecasts indicate population growth and a meaningful increase in household counts over the next five years, which can expand the local renter pool and support occupancy durability.
Ownership costs in the area are elevated relative to U.S. norms, which tends to sustain reliance on rental housing and can support pricing power; at the same time, higher rent levels create affordability pressure that warrants careful lease management and renewal planning. The property s 2000 construction is newer than the neighborhood s average vintage, which can be a competitive edge versus older stock while still leaving room for targeted modernization to enhance rents and retention.
Neighborhood safety indicators are weaker than national averages, and the area ranks below the metro median (crime rank 300 of 621). For context, national percentiles signal elevated property and violent offense exposure compared with many U.S. neighborhoods. However, recent trend data show a notable year-over-year decline in estimated property offenses, suggesting some improvement momentum to monitor alongside any local initiatives.
Investors typically account for this by emphasizing on-site security measures, lighting, and resident engagement, and by benchmarking incident trends against comparable San Diego-Chula Vista-Carlsbad neighborhoods to track whether the recent improvement persists.
Proximity to regional employers supports workforce housing demand and commute convenience for residents, notably in energy, defense, biotech, technology, and distribution. The following anchors illustrate the employment base accessible from the property.
- Sempra Energy energy (6.5 miles) HQ
- L-3 Telemetry & RF Products defense & aerospace (12.2 miles)
- Celgene Corporation biotechnology (17.8 miles)
- Qualcomm technology & wireless (18.2 miles) HQ
- Sysco food distribution (19.9 miles)
21 4th Ave is a 34-unit asset built in 2000, offering a relatively newer vintage than much of the surrounding stock. That positioning, combined with a high renter-occupied share in the neighborhood and strong access to groceries, parks, and dining, underpins demand depth. According to CRE market data from WDSuite, neighborhood occupancy sits below national norms, which argues for value creation through operations, unit upgrades, and marketing rather than relying solely on market tightening.
Within a 3-mile radius, forecasts point to population growth and a sizable increase in households over the next five years as average household size trends lower. This dynamic supports a larger tenant base and can aid occupancy stability. Balanced against this, elevated ownership costs reinforce rental reliance and pricing power potential, while higher rent levels call for prudent affordability and renewal strategies.
- Newer 2000 vintage versus older neighborhood stock, with potential to outperform legacy assets via targeted upgrades.
- High renter-occupied share supports depth of demand and leasing resilience.
- Amenity access (groceries, parks, restaurants) strengthens renter appeal and retention.
- Household growth within 3 miles expands the renter pool, supporting occupancy over time.
- Risks: neighborhood safety metrics below national averages and softer occupancy; underwriting should emphasize operations, security, and affordability management.