| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 34th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 330 K St, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1977 |
| Units | 38 |
| Transaction Date | 2000-06-12 |
| Transaction Price | $2,225,000 |
| Buyer | 330 K STREET LP |
| Seller | ISLAND GARDENS |
330 K St Chula Vista Multifamily Investment
This 38-unit property built in 1975 operates in a neighborhood with strong rental fundamentals, including 94.4% occupancy and high amenity density according to CRE market data from WDSuite.
The property sits within an Urban Core neighborhood rated B+ that ranks 199th among 621 San Diego metro neighborhoods. The area demonstrates solid fundamentals with 94.4% neighborhood-level occupancy, well above many comparable markets, and a median contract rent of $1,744 that has increased 31.7% over the past five years.
Demographics within the 3-mile radius show a stable tenant base with 145,610 residents and 52.4% of housing units occupied by renters. The area benefits from exceptional amenity density, ranking in the 99th percentile nationally for grocery stores and childcare facilities per square mile, supporting tenant retention through convenience and accessibility.
Built in 1975, this property represents typical vintage for the neighborhood where average construction year is 1969. The older building stock may present value-add renovation opportunities while the established neighborhood character provides stability. Median home values of $628,540 have appreciated 46.4% over five years, reinforcing rental demand as elevated ownership costs sustain reliance on multifamily housing.
Forward-looking demographic projections indicate modest population growth with households forecast to increase 37% by 2028, expanding the potential tenant base. Median household income within the area is projected to rise 36.3% to nearly $104,000, supporting rent growth potential while maintaining affordability for middle-income renters.
Crime metrics show mixed signals that warrant careful consideration. Property offense rates rank 503rd among 621 metro neighborhoods, placing the area in the lower half regionally. However, recent trends indicate improvement with property crime declining 37.6% over the past year, ranking 53rd for crime reduction and demonstrating positive momentum.
Violent crime rates similarly rank toward the lower end at 531st among metro neighborhoods, though the area has experienced a 22.4% reduction in violent offenses over the past year. Investors should factor these safety considerations into property management strategies while noting the improving trend direction that may support long-term tenant retention.
The submarket benefits from proximity to major corporate employers that provide workforce housing demand, including energy infrastructure and technology companies within commuting distance.
- Sempra Energy — energy infrastructure (7.7 miles)
- Sempra Energy — energy infrastructure (8.4 miles) — HQ
- L-3 Telemetry & RF Products — defense technology (14.2 miles)
- Qualcomm — technology (20.1 miles) — HQ
This 38-unit property offers exposure to a stable Urban Core rental market with strong occupancy fundamentals and improving safety trends. The 1975 vintage presents potential value-add opportunities through unit renovations and building improvements, while the neighborhood's exceptional amenity density supports tenant retention. According to multifamily property research from WDSuite, the area maintains 94.4% occupancy with rents that have grown over 30% in five years, indicating healthy demand dynamics.
Demographic projections show household growth of 37% by 2028 and median income rising to $104,000, expanding both the tenant base and rent growth potential. High home values exceeding $628,000 reinforce rental demand as ownership remains less accessible. The concentration of major employers including Sempra Energy headquarters and Qualcomm within the broader metro provides employment stability for the workforce housing segment.
- Strong occupancy at 94.4% neighborhood-level with 31.7% rent growth over five years
- Value-add potential from 1975 vintage in established Urban Core location
- Household growth forecast of 37% by 2028 expanding tenant base
- Exceptional amenity density ranking 99th percentile nationally for groceries and childcare
- Risk consideration: Crime metrics rank in lower half of metro, though improving trends show 37.6% property crime reduction