| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 21st | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 272 Kennedy St, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1972 |
| Units | 62 |
| Transaction Date | 2014-08-22 |
| Transaction Price | $9,500,000 |
| Buyer | MARK II LP |
| Seller | KREUTZKAMP CHARLES FREDERICK |
272 Kennedy St, Chula Vista Multifamily Investment
Neighborhood occupancy is strong and renter demand is deep, supporting cash flow durability, according to WDSuite’s CRE market data. Built in 1972, the asset’s older vintage suggests potential value-add and systems upgrades to enhance competitiveness.
The property sits in an Urban Core neighborhood of the San Diego–Chula Vista–Carlsbad metro with a Competitive among metro neighborhoods standing (377 of 621). Neighborhood occupancy is elevated and trending positively, placing it in the top quintile nationally and Competitive among San Diego–Chula Vista–Carlsbad, CA neighborhoods (229 of 621), a constructive signal for lease stability and renewal capture.
Renter-occupied housing represents a sizable share of neighborhood units (64.1%), ranking 92 of 621 metro neighborhoods, which points to a deep tenant base for multifamily. The property’s 1972 vintage is older than the neighborhood’s average construction year of 1981; investors should plan for targeted capital expenditures and consider renovation to drive rent premiums and reduce near-term maintenance risk.
Daily needs and lifestyle amenities are a relative strength. Restaurant and cafe density ranks in the top percentiles nationally, and grocery access is also strong, supporting walkable conveniences that can aid retention. Park access is above national norms as well. Service gaps exist in childcare and pharmacy density, which may modestly influence family-oriented leasing strategies.
Within a 3-mile radius, demographic data show household counts have risen while population has been roughly flat, and forecasts indicate meaningfully more households alongside smaller average household sizes. This pattern typically expands the renter pool and supports occupancy. Median home values sit well above local incomes (high value-to-income ratio; 94th percentile nationally), suggesting a high-cost ownership market that tends to reinforce reliance on rental housing. Rent levels are above national norms yet remain supported by the area’s renter concentration; lease management should monitor affordability pressure given a rent-to-income ratio that is elevated relative to national benchmarks.
Safety indicators for the neighborhood are below metro average, with a crime rank of 183 out of 621 metro neighborhoods and national positioning below the median. This suggests investors should underwrite with conservative assumptions around security, insurance, and potential tenant concerns, particularly for workforce segments.
Recent trends are constructive: estimated property offenses declined materially year over year (improvement in the top quartile nationally), and violent offense rates show modest improvement as well. While still not a top performer on safety, the directional change is favorable compared with many urban neighborhoods nationwide.
Proximity to regional employers supports a sizable workforce-renter base and commute convenience, which can aid leasing velocity and retention. Nearby anchors include Sempra Energy, L-3 Telemetry & RF Products, Celgene, Qualcomm, and Sysco.
- Sempra Energy — energy (9.5 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (15.2 miles)
- Celgene Corporation — biotech (20.8 miles)
- Qualcomm — wireless & semiconductors (21.2 miles) — HQ
- Sysco — foodservice distribution (22.6 miles)
This 62-unit, 1972-vintage asset benefits from a renter-heavy neighborhood with strong occupancy and resilient demand drivers supported by amenity density and access to regional employers. The older vintage positions the property for targeted upgrades that can unlock value and improve operating reliability relative to newer competitive stock. Elevated ownership costs in the area favor sustained reliance on rentals, while growing household counts within a 3-mile radius indicate a larger tenant base over time.
According to CRE market data from WDSuite, the neighborhood’s occupancy performance is competitive within the metro and above national medians, aligning with investor focus on stability. At the same time, underwriting should account for safety metrics that lag regional peers and for household affordability pressure, balancing renovation scope with rent positioning to support retention and steady NOI growth.
- Renter-heavy neighborhood and competitive occupancy support leasing stability
- 1972 vintage offers value-add and systems-upgrade potential
- High-cost ownership market reinforces multifamily demand and pricing power
- Amenity-rich location with proximity to major employers aids retention
- Risk: Safety metrics below metro average and affordability pressure require prudent underwriting