| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Poor |
| Demographics | 35th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 347 Roosevelt St, Chula Vista, CA, 91910, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1976 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | $705,000 |
| Buyer | PETERS BYRON J |
| Seller | FOWLER MARY GRACE |
347 Roosevelt St Chula Vista Multifamily Investment
This 20-unit property sits in a renter-majority neighborhood with 72% rental tenure, supporting consistent tenant demand according to WDSuite's CRE market data.
The property is located in an Urban Core neighborhood that ranks in the top quartile nationally for amenity density, with concentrated dining and retail access supporting tenant retention. Demographics within a 3-mile radius show 57% of housing units are renter-occupied, creating a substantial rental market base of over 26,000 renter households.
Built in 1976, this property predates the neighborhood's 1973 average construction year by three years, suggesting potential value-add opportunities through targeted capital improvements. Median contract rents in the immediate neighborhood reach $1,567, while the broader 3-mile area commands $1,697, indicating room for strategic rent optimization.
The area demonstrates rental market stability with 90.7% neighborhood occupancy rates, though this trails metro performance. Income growth within the 3-mile radius has been robust, with median household incomes rising 47.7% over five years to $73,904, supporting tenant retention and rent growth potential. Forecasted demographic trends show continued household formation, with a 38% projected increase in total households through 2028.
The neighborhood benefits from exceptional restaurant density ranking 10th among 621 San Diego metro neighborhoods, along with strong grocery access. However, school ratings average 2.0 out of 5, which may limit appeal to family renters but supports workforce housing demand from younger demographics.
Property crime rates place this neighborhood in the lower third among San Diego metro neighborhoods, though recent trends show improvement with a 36.7% decline in property offenses over the past year, ranking in the top quartile nationally for crime reduction. Violent crime rates also decreased 17.3% year-over-year, demonstrating positive momentum in public safety trends.
While current crime metrics require attention in tenant screening and property management protocols, the substantial year-over-year improvements in both property and violent crime suggest stabilizing conditions that may support longer-term tenant retention and neighborhood investment appeal.
The property benefits from proximity to major San Diego employers, with energy sector headquarters and technology companies providing workforce housing demand within the broader metro commute zone.
- Sempra Energy — energy services (6.8 miles)
- Sempra Energy — energy services (7.5 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (13.3 miles)
- Qualcomm — technology (19.2 miles) — HQ
This 20-unit property offers exposure to Chula Vista's established rental market, where 72% rental tenure creates consistent demand fundamentals. The 1976 construction year positions the asset for strategic capital improvements that could capture upside to area rent levels, particularly given the gap between neighborhood rents at $1,567 and the broader market at $1,697. Demographic trends within the 3-mile radius support long-term demand, with projected household growth of 38% through 2028 and median income increases of 47.7% over the past five years.
According to commercial real estate analysis from WDSuite, the neighborhood's Urban Core classification and top-quartile amenity rankings provide tenant retention advantages, while recent crime reduction trends suggest improving fundamentals. However, investors should factor below-metro occupancy performance and higher crime baselines into underwriting and management strategies.
- Strong rental tenure at 72% supports consistent tenant demand
- Value-add potential through 1976 vintage requiring strategic capital improvements
- Projected 38% household growth through 2028 expands renter pool
- Top-quartile amenity density supports tenant retention
- Risk consideration: Below-metro occupancy performance requires active management