| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 21st | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 250 Kennedy St, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1977 |
| Units | 70 |
| Transaction Date | 2021-11-19 |
| Transaction Price | $16,500,000 |
| Buyer | MARK II LP |
| Seller | A B BEAUCHAMP FAMILY LP |
250 Kennedy St Chula Vista Multifamily Investment
This 70-unit property built in 1977 is positioned in a neighborhood with 96.7% occupancy rates and strong rental demand dynamics. Commercial real estate analysis shows the area ranks in the top quartile nationally for net operating income per unit at $13,142 average.
This Urban Core neighborhood demonstrates solid fundamentals for multifamily investors, ranking 377th among 621 metro neighborhoods with a C+ overall rating. The area maintains 96.7% occupancy rates, positioning above the 82nd national percentile for occupancy stability. With 64.1% of housing units renter-occupied, the neighborhood ranks in the top 5% nationally for rental tenure share, indicating strong and sustained demand for multifamily housing.
Demographic data aggregated within a 3-mile radius shows a population of approximately 178,000 with median household income of $81,645. The area benefits from high amenity density, ranking in the 94th national percentile for grocery stores and 98th percentile for restaurants per square mile. Contract rent medians of $1,841 have increased 35.3% over five years, while projections indicate continued rent growth to $2,442 by 2028.
The property's 1977 construction year aligns with the neighborhood average of 1981, suggesting consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements. Home values averaging $374,446 with a 7.3 value-to-income ratio reinforce rental demand, as elevated ownership costs sustain renter reliance on multifamily housing options in this market.
Safety metrics show mixed trends that warrant investor attention for tenant retention planning. Property crime rates have declined 31.4% year-over-year, ranking in the 74th national percentile for improvement trends. However, the neighborhood currently ranks 407th among 621 metro neighborhoods for property offense rates, placing it below metro median levels.
Violent crime metrics indicate the area ranks 542nd among 621 metro neighborhoods, though rates have decreased 9.3% over the past year. Investors should consider these safety dynamics when evaluating tenant demographics, lease renewal strategies, and any security enhancement investments that could support occupancy stability and rental premiums.
The property benefits from proximity to major corporate employers that support workforce housing demand, with several Fortune 500 companies and regional headquarters within commuting distance.
- Sempra Energy — utilities and energy services (8.9 miles)
- Sempra Energy — utilities and energy services (9.6 miles) — HQ
- L-3 Telemetry & RF Products — defense and aerospace (15.3 miles)
- Qualcomm — technology and telecommunications (21.3 miles) — HQ
- Celgene Corporation — biotechnology and pharmaceuticals (20.9 miles)
This 70-unit property presents a compelling investment opportunity anchored by strong neighborhood-level occupancy at 96.7% and exceptional rental demand fundamentals. According to CRE market data from WDSuite, the area ranks in the top quartile nationally for net operating income per unit, while the high renter occupancy share of 64.1% indicates sustained multifamily demand. The 1977 construction vintage offers potential value-add opportunities through strategic renovations and unit improvements.
Demographics within the 3-mile radius support long-term rental stability, with projected household growth of 34% through 2028 and median rent increases to $2,442. The elevated home value-to-income ratio of 7.3 reinforces rental demand by maintaining ownership cost barriers. However, investors should monitor the below-median safety metrics and plan accordingly for tenant retention strategies.
- Strong occupancy fundamentals with 96.7% neighborhood rates and top 5% national ranking for rental tenure
- Value-add potential through 1977 vintage positioning and strategic capital improvements
- Projected 34% household growth and rent increases to $2,442 by 2028
- High ownership cost barriers sustain multifamily demand in established market
- Risk consideration: Below-median safety metrics require tenant retention planning