| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 21st | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 317 Zenith St, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1979 |
| Units | 21 |
| Transaction Date | 2016-11-18 |
| Transaction Price | $4,265,000 |
| Buyer | Zenith Group Partners LLC |
| Seller | Barzal & Scotti Casa Linda LP |
317 Zenith St Chula Vista Multifamily Investment
This 21-unit property built in 1979 offers value-add potential in a neighborhood with strong occupancy fundamentals and high rental demand, according to CRE market data from WDSuite.
The Chula Vista neighborhood demonstrates solid rental market fundamentals with 96.7% occupancy rates and a high concentration of renter-occupied housing units at 64.1%. This rental density ranks in the 95th percentile nationally, indicating strong structural demand for multifamily housing. Demographic statistics aggregated within a 3-mile radius show a stable population of approximately 185,000 residents with modest household growth projected through 2028.
Built in 1979, this property aligns with the neighborhood's average construction vintage of 1981, presenting potential value-add opportunities through strategic renovations and unit improvements. The area benefits from excellent amenity access, with restaurant density ranking 35th among 621 metro neighborhoods and cafe density in the 99th percentile nationally. Median contract rents of $1,629 reflect competitive pricing within the broader San Diego market.
The neighborhood's housing fundamentals support rental demand, with elevated home values at $374,446 median reinforcing tenant reliance on rental housing options. Five-year rent growth of 34.1% demonstrates pricing power, while the 96.7% occupancy rate indicates strong absorption and tenant retention. These metrics position the area favorably for multifamily investors seeking stable cash flow and potential upside through property improvements.
Property crime trends show improvement with a 31.4% decline over the past year, ranking in the 74th percentile nationally for crime reduction. While current property crime rates remain above metro averages, the positive trajectory suggests stabilizing conditions. Violent crime rates have also decreased by 9.3% year-over-year, contributing to an overall improving safety profile in the neighborhood.
The area's crime metrics rank 183rd among 621 metro neighborhoods, placing it in the middle tier for the San Diego region. Investors should consider these trends alongside the neighborhood's strong occupancy rates and rental demand when evaluating long-term investment potential and tenant retention strategies.
The property benefits from proximity to major San Diego employers, supporting workforce housing demand and commute convenience for tenants.
- Sempra Energy — utility services (9.5 miles)
- Sempra Energy — utility services (10.3 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (16.2 miles)
- Qualcomm — technology (22.1 miles) — HQ
This 21-unit property presents a compelling value-add opportunity in a neighborhood with demonstrated rental market strength. The 96.7% occupancy rate and 64.1% renter-occupied housing share indicate robust demand fundamentals, while the 1979 construction year offers potential for strategic improvements to capture additional rental upside. Multifamily property research shows the area's rent growth of 34.1% over five years, supported by limited housing supply and strong employment proximity to major San Diego employers.
Demographic projections within the 3-mile radius show household income growth and continued renter pool expansion, supporting long-term occupancy stability. The neighborhood's amenity density and restaurant access enhance tenant appeal, while elevated home values sustain rental demand by limiting ownership accessibility. These fundamentals create a favorable environment for both stable cash flow and value enhancement through targeted capital improvements.
- Strong occupancy fundamentals with 96.7% neighborhood rate
- High rental demand supported by 64.1% renter-occupied units
- Value-add potential through 1979 vintage property improvements
- Risk consideration: Property crime rates above metro average despite recent improvements