| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 50th | Fair |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 260 Bonita Glen Dr, Chula Vista, CA, 91910, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1987 |
| Units | 27 |
| Transaction Date | 2015-06-16 |
| Transaction Price | $49,050,000 |
| Buyer | RRE BONITA GLEN HOLDINGS LLC |
| Seller | UNIVERSAL PROPERTIES THREE LLC |
260 Bonita Glen Dr, Chula Vista Multifamily Investment
Neighborhood occupancy has held near the low-90% range with a competitive renter-occupied share, suggesting steady demand for well-positioned units, according to WDSuite s CRE market data. For investors, this points to stable leasing with pricing set by a high-cost ownership market in San Diego County.
The property s 1987 vintage is newer than the neighborhood s average construction year (1975), which can offer a relative competitive edge versus older stock while still warranting attention to systems that may be nearing mid-life modernization. With 27 units averaging roughly 900 square feet, the asset s scale suits hands-on operations and targeted value-add.
Local livability signals are mixed. Grocery access is a relative strength, with the neighborhood s grocery density ranking among the top quartile nationally and competitive among 621 San Diego Chula Vista Carlsbad neighborhoods. Restaurant density is also solid. By contrast, cafes, parks, and pharmacies are limited within the immediate neighborhood, so residents may rely on adjacent corridors for certain amenities. These dynamics typically favor properties that deliver convenience on-site and manage resident services effectively.
Tenure patterns point to durable multifamily demand. At the neighborhood level, the share of housing units that are renter-occupied is competitive among metro peers (ranked in the better 40% of 621 neighborhoods), indicating a sizable tenant base. Within a 3-mile radius, demographics show households increasing modestly alongside a projected rise in overall population and incomes by 2028, expanding the renter pool and supporting occupancy stability. This growth is framed by a high-cost ownership market (home values sit in the mid-90th percentile nationally), which tends to sustain renter reliance on multifamily housing rather than shift demand to for-sale options.
For revenue management, neighborhood rents and incomes sit above national norms, while the rent-to-income ratio indicates some affordability pressure. Investors should expect thoughtful lease management and amenity programming to support retention and reduce turnover. Overall, the submarket s fundamentals are balanced: demand depth from a large 3-mile workforce and household base, with competitive amenity access in groceries and dining, and selective constraints that favor properties executing on resident convenience.
Safety indicators are mixed relative to regional and national benchmarks. Compared with 621 metro neighborhoods, the area s composite crime rank sits in the lower half, and national percentiles for violent and property offenses are also on the lower end, indicating higher incident rates than many U.S. neighborhoods. However, recent trend data shows an estimated double-digit year-over-year decline in property offenses, suggesting conditions have been improving rather than deteriorating.
For underwriting, this typically translates to prudent security planning and resident engagement, while recognizing that improving trends can support leasing and renewal efforts if reinforced by on-site operations and visibility.
Proximity to major employers underpins renter demand and commute convenience, led by energy utilities, defense & aerospace offices, biotechnology, and wireless & semiconductors. The following anchors within commuting distance are most relevant to workforce housing and retention.
- Sempra Energy energy utilities (7.1 miles)
- Sempra Energy energy utilities (7.7 miles) HQ
- L-3 Telemetry & RF Products defense & aerospace offices (12.9 miles)
- Celgene Corporation biotechnology (18.6 miles)
- Qualcomm wireless & semiconductors (18.9 miles) HQ
Positioned in a high-cost ownership market with strong grocery and dining access, 260 Bonita Glen Dr benefits from a sizable renter base locally and within a 3-mile radius, where households and incomes are projected to rise into 2028. According to CRE market data from WDSuite, neighborhood occupancy sits around the low-90% range and renter concentration is competitive among metro peers, supporting steady leasing for professionally managed assets.
Built in 1987, the property is newer than much of the surrounding stock, offering competitive positioning while presenting potential value-add via unit modernization and building system updates. With elevated home values and rents above national norms, thoughtful affordability and lease management can sustain retention and pricing power without overextending residents.
- Newer 1987 vintage versus neighborhood average, with clear modernization and value-add pathways
- Competitive renter-occupied share and stable neighborhood occupancy support leasing durability
- High-cost ownership environment reinforces multifamily demand and potential pricing power
- Strong nearby employment nodes across energy, biotech, aerospace, and wireless bolster tenant base
- Risks: safety metrics below national norms and limited immediate cafe/park/pharmacy access require proactive operations