| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 34th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 345 K St, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1988 |
| Units | 65 |
| Transaction Date | 2014-11-12 |
| Transaction Price | $12,000,000 |
| Buyer | KREUTZKAMP CHARLES FREDERICK |
| Seller | ALVA GARDENS LP |
345 K St Chula Vista Multifamily Investment
Neighborhood fundamentals point to steady renter demand and above-average occupancy for the area, according to WDSuite’s CRE market data. Metrics cited reflect the surrounding neighborhood rather than this specific property.
Located in Chula Vista’s Urban Core within the San Diego–Chula Vista–Carlsbad metro, the neighborhood carries a B+ rating and ranks 199 out of 621 metro neighborhoods—competitive among San Diego–Chula Vista–Carlsbad neighborhoods. For investors, this positioning suggests balanced fundamentals without the pricing froth seen in the very top tier.
Livability is supported by strong daily-needs access: grocery stores and pharmacies are in the top decile nationally, restaurants are also high relative to U.S. neighborhoods, and parks score well. Cafés are comparatively sparse, but abundant childcare options (top tier nationally) strengthen the area’s family-serving profile. The neighborhood’s average school rating trends below the national median; underwriting for family-oriented unit mixes should consider this when modeling retention.
Multifamily dynamics are constructive. Neighborhood occupancy is solid and sits above the national mid-range, and renter-occupied housing represents a majority of units—indicating a deep tenant base. Median contract rents trend toward the higher end nationally, consistent with San Diego County. The property’s 1988 vintage is newer than the neighborhood’s typical construction year (1969), which can enhance competitive positioning versus older stock while still leaving room for targeted modernization to drive rent premiums.
Within a 3-mile radius, WDSuite data shows modest population growth and an increase in households, pointing to a gradually expanding renter pool. Elevated home values and a high value-to-income ratio at the neighborhood level indicate a high-cost ownership market—conditions that tend to reinforce reliance on multifamily rentals and support pricing power and lease retention strategies.
Safety conditions should be evaluated thoughtfully. The neighborhood ranks 144 out of 621 across the metro on crime, indicating higher reported crime than many San Diego–Chula Vista–Carlsbad neighborhoods and below-average safety versus U.S. neighborhoods overall. At the same time, recent trend data points to meaningful year-over-year improvement in both property and violent offense rates, suggesting conditions have been moving in a favorable direction. Investors may wish to reflect this mix—current positioning with improving trajectory—when setting operating assumptions.
Proximity to regional employers supports renter demand and commute convenience, with a mix of energy infrastructure, defense & aerospace, biotech, and technology offices within commuting range.
- Sempra Energy — energy infrastructure (8.34 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (14.1 miles)
- Celgene Corporation — biotechnology (19.7 miles)
- Qualcomm — semiconductors & wireless (20.1 miles) — HQ
- Sysco — food distribution (21.6 miles)
This 65-unit asset built in 1988 offers relative competitiveness versus the area’s older housing stock, with potential to capture premiums through selective renovations and operational upgrades. Neighborhood occupancy trends hold above the national mid-range and the renter-occupied share is a majority, supporting depth of demand and leasing stability. Elevated neighborhood home values point to a high-cost ownership market, which typically sustains multifamily reliance and can bolster pricing power and retention.
Within a 3-mile radius, WDSuite data indicates modest population growth and rising household counts, expanding the local renter pool over the medium term. At the same time, investors should account for safety positioning that trails national norms but has been improving, and for rent-to-income pressures characteristic of high-cost coastal metros. These considerations argue for prudent lease management and value-oriented amenity upgrades. Insights reflect the surrounding neighborhood rather than the property itself and are based on commercial real estate analysis using CRE market data from WDSuite.
- Newer-than-area vintage (1988) supports competitive positioning with room for targeted value-add
- Majority renter-occupied neighborhood and solid occupancy underpin demand and leasing stability
- High-cost ownership market reinforces renter reliance and can support pricing power
- 3-mile radius shows population and household growth, expanding the tenant base
- Risks: below-average safety (improving trend) and affordability pressure call for careful lease and expense management