| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 34th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 345 I St, Chula Vista, CA, 91910, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1974 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
345 I St Chula Vista Multifamily Investment
Neighborhood fundamentals point to steady renter demand and above-median occupancy at the neighborhood level, according to WDSuite’s CRE market data. Renter concentration is high in the surrounding area, supporting a durable tenant base for this asset in Chula Vista.
Competitive among San Diego–Chula Vista–Carlsbad metro neighborhoods (ranked 199 out of 621), this Urban Core location balances access and everyday convenience for renters. Grocery, pharmacy, and restaurant density scores in the higher national percentiles, while cafe density is comparatively thin—supportive for daily needs even if lifestyle retail is more limited.
The surrounding neighborhood shows an above national median occupancy level and a renter-occupied share of housing units that is in the higher range locally, indicating depth in the tenant pool and supportive leasing conditions. Median contract rents in the neighborhood sit in the upper national percentiles, which pairs with a high-cost ownership landscape to reinforce reliance on multifamily housing. For investors, this combination typically supports pricing power but warrants close attention to resident affordability and lease management.
Within a 3-mile radius, recent years show modest population stability with an increase in households and forecasts calling for further household growth by 2028. That trend points to a larger tenant base over time and can support occupancy stability and leasing velocity as new households enter the market.
Vintage context matters: the property was built in 1974, slightly newer than the neighborhood’s average construction year. Investors should plan for capital projects typical of 1970s assets—systems modernization and targeted renovations—while considering value-add scope to remain competitive versus newer supply.
Amenities are a local strength: grocery store availability and pharmacy access rank in top national bands, parks are accessible, and childcare density is notably strong. Average school ratings in the area trend below national medians, which is relevant for family-oriented renter segments and positioning.
Safety trends in the neighborhood are mixed when viewed against metro and national benchmarks. Overall, safety levels rank below the metro median among 621 neighborhoods, and national percentiles indicate higher-than-average incident rates. However, year-over-year data shows meaningful declines in both property and violent offense estimates, suggesting conditions have been improving recently.
For underwriting, frame this location as improving but still below national norms, and calibrate operating assumptions (security measures, insurance, and turnover planning) accordingly. Compare submarket comps to validate that recent improvements are sustained before leaning on more aggressive stabilization assumptions.
Proximity to regional employers supports renter demand through commute convenience and employment diversity. Nearby anchors include energy utilities, defense and aerospace, biotech, and technology, which collectively broaden the potential tenant base.
- Sempra Energy — energy utility (7.9 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace offices (13.6 miles)
- Celgene Corporation — biotech (19.2 miles)
- Qualcomm — technology (19.6 miles) — HQ
- Sysco — foodservice distribution (21.1 miles)
This 32‑unit, 1974-vintage asset benefits from a renter-heavy neighborhood, above-median occupancy at the neighborhood level, and strong daily-needs amenities that support retention. Elevated ownership costs in the area tend to sustain rental demand, while household growth within a 3‑mile radius points to a gradual expansion of the renter pool and supports long-term leasing stability.
According to CRE market data from WDSuite, neighborhood rents and per‑unit income performance benchmark in higher national percentiles, aligning with an investment thesis centered on durable demand and operational execution. The vintage presents value‑add and systems‑upgrade potential to enhance competitiveness versus newer stock, balanced against prudent underwriting for affordability pressure and local safety considerations.
- Renter-heavy neighborhood and above-median occupancy support stable leasing
- High-cost ownership market reinforces reliance on multifamily housing
- 1974 vintage offers value-add and systems modernization upside
- Household growth within 3 miles expands the long‑term tenant base
- Risks: resident affordability pressure and below-median safety require disciplined operations