| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 21st | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 242 Kennedy St, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 2005 |
| Units | 21 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
242 Kennedy St Chula Vista Multifamily Investment
This 21-unit property built in 2005 sits in an urban neighborhood where renter occupancy reached 96.7% and median rents rank in the 83rd national percentile, according to CRE market data from WDSuite.
The property is located in an Urban Core neighborhood rated C+ among 621 neighborhoods across the San Diego-Chula Vista-Carlsbad metro. The neighborhood ranks in the 81st national percentile for housing fundamentals, reflecting a stable renter base and solid demand dynamics. Renter-occupied units represent 64.1% of housing tenure—95th percentile nationally—indicating a deep tenant pool and sustained multifamily demand. Neighborhood-level occupancy stands at 96.7%, ranking in the 82nd national percentile and signaling tight inventory and strong absorption.
Median contract rent of $1,629 places the neighborhood in the 83rd national percentile, with five-year rent growth of 34.1%. The 2005 vintage is slightly newer than the neighborhood average of 1981, suggesting lower near-term capital expenditure relative to older stock and a competitive edge in tenant appeal. Amenity density is strong: the neighborhood ranks in the 99th national percentile for cafes per square mile and 98th for restaurants, supporting walkable lifestyle appeal that enhances retention.
Within a 3-mile radius, the population totals approximately 177,600, with households averaging 3.3 members. Median household income is $79,778, and median contract rent across the radius is $1,824, up 35.9% over five years. The renter share is 48.5%, and median home values of $374,446 limit ownership accessibility, sustaining reliance on rental housing. Forward projections through 2028 anticipate household growth of 33.9% and median income rising to $108,644, expanding the renter pool and supporting occupancy stability.
School ratings average 1.7 out of 5, placing the neighborhood in the 28th national percentile—a consideration for families but less material for workforce and value-oriented renters. The neighborhood ranks in the 21st percentile nationally for demographics, reflecting lower educational attainment (7.3% bachelor's degree or higher) and below-median income levels. These factors point to affordability-sensitive demand and may require attentive lease management, but the high renter concentration and occupancy trends indicate resilient fundamentals for investors focused on workforce housing.
The neighborhood ranks 183rd among 621 San Diego metro neighborhoods for crime, placing it in the 38th national percentile—indicating elevated crime relative to national norms but near the metro median. Estimated property offense rates are approximately 1,950 incidents per 100,000 residents, ranking in the 11th national percentile. However, property crime declined 31.4% year-over-year, a trend that ranks in the 74th percentile nationally and suggests improving conditions.
Violent offense rates are estimated at 745 per 100,000 residents, ranking in the 6th national percentile, reflecting higher violent crime compared to most U.S. neighborhoods. Violent crime declined 9.3% over the past year, ranking in the 59th percentile for improvement. For investors, these metrics warrant attention to tenant screening, property management protocols, and security measures. The improving trajectory in property crime and the neighborhood's proximity to major employers and transit may mitigate some retention risk, but safety remains a factor in tenant appeal and renewal rates.
The property benefits from proximity to major corporate offices anchored by Sempra Energy and Qualcomm, supporting workforce housing demand and commute convenience for professional renters.
- Sempra Energy — energy services (8.8 miles)
- Sempra Energy — energy services (9.5 miles) — HQ
- Qualcomm — technology & telecommunications (21.3 miles) — HQ
- Celgene Corporation — biopharmaceutical (20.8 miles)
This 21-unit property offers exposure to a high-occupancy, renter-concentrated Urban Core neighborhood in the San Diego metro. Neighborhood-level occupancy of 96.7% ranks in the 82nd national percentile, and the 64.1% renter-occupied share (95th percentile nationally) underscores a deep tenant base. Median rents of $1,629 place the neighborhood in the 83rd national percentile, with 34.1% growth over five years. The 2005 vintage is newer than the neighborhood average, reducing near-term capital needs and supporting competitive positioning. Within a 3-mile radius, household growth is projected to increase 33.9% by 2028, and median income is forecast to rise 36.2% to $108,644, expanding the renter pool and supporting lease-up velocity.
Elevated home values—$374,446 at the median—limit ownership accessibility and sustain rental demand. Strong amenity density (99th percentile for cafes, 98th for restaurants) enhances tenant retention. However, the neighborhood ranks in the 21st percentile nationally for demographics, reflecting lower educational attainment and income levels that point to affordability-sensitive demand. Crime metrics rank below national norms, though property crime has declined 31.4% year-over-year. Investors should weigh occupancy stability and rent growth against lease management considerations and the need for attentive property operations in a workforce-oriented market.
- Neighborhood occupancy of 96.7% and 64.1% renter share rank in top national quartiles, indicating strong multifamily demand
- Median rents in 83rd national percentile with 34.1% five-year growth; 2005 vintage reduces near-term capital expenditure
- Household growth projected at 33.9% and median income forecast to rise 36.2% by 2028, expanding renter pool
- Elevated home values sustain rental demand; strong walkable amenity density supports tenant retention
- Lower demographics rank and elevated crime metrics require attentive lease management and security protocols