| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Poor |
| Demographics | 35th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 364 5th Ave, Chula Vista, CA, 91910, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1985 |
| Units | 48 |
| Transaction Date | 2000-08-07 |
| Transaction Price | $2,690,000 |
| Buyer | RAMSEY JOSEPH C |
| Seller | PARK FIFTH AVENUE VENTURE |
364 5th Ave, Chula Vista CA Multifamily Investment
Amenity-rich Urban Core location with a deep renter base and a 1985 vintage that offers modernization upside, according to WDSuite’s CRE market data.
The property sits in Chula Vista’s Urban Core, where neighborhood fundamentals are competitive among the 621 San Diego–Chula Vista–Carlsbad neighborhoods (Neighborhood Rating: B; rank 258 of 621). Local retail density is a clear strength: neighborhood counts for restaurants and cafes track in the top tier nationally, and grocery, parks, and pharmacies score well above average. These amenities support daily convenience and tenant retention while reinforcing leasing velocity for workforce-oriented product.
For investors evaluating demand depth, the neighborhood’s renter-occupied share is high (72%+ of housing units are renter-occupied), indicating a large tenant pool and sustained multifamily relevance. Neighborhood occupancy has hovered around the low-90s in recent years and trended higher over the past five years, supporting stable operations at the submarket level, based on CRE market data from WDSuite. Neighborhood NOI per unit benchmarks also sit in higher national percentiles, signaling solid rent levels relative to operating costs; as always, property-specific performance can differ.
Within a 3-mile radius, demographics show households growing even as average household size edges down, which can expand the renter pool and support steady absorption of modest unit sizes. Forward-looking projections indicate gains in population and households through the next five years, alongside income growth, which generally supports rent levels and occupancy stability. School quality indicators trail national medians, so family-demand positioning may rely more on location convenience and renovated interiors than school-driven leasing.
Ownership costs in the area register on the higher side relative to incomes, which tends to sustain reliance on rental housing rather than shift renters rapidly into ownership. This backdrop, paired with the amenity-rich setting, underpins pricing power potential but also calls for attentive lease management where rent-to-income ratios are elevated to manage retention risk.
Safety indicators for the neighborhood sit below the national median (lower national percentile), so investors should underwrite with prudent operating assumptions and active management of on-site protocols. At the same time, recent trend data point to improving conditions: estimated property offenses declined meaningfully year over year and violent offense rates also moved lower. These directional shifts suggest progress even if the area still trails safer peer neighborhoods across the metro.
In metro context, ranks are measured against 621 neighborhoods; lower ranks indicate higher crime levels. Given this framework, the area remains comparatively challenged but with recent declines indicating momentum. As with any urban location, block-to-block experience can vary; property-level measures and visibility often contribute to resident confidence and retention.
Nearby employers span utilities, defense, biotech, and technology—supporting a diverse workforce renter base and commute-friendly access that can aid retention. The list below highlights proximity to Sempra Energy, L-3 Telemetry & RF Products, Celgene, Qualcomm, and Sysco.
- Sempra Energy — energy utilities (7.2 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (13.1 miles)
- Celgene Corporation — biotech (18.6 miles)
- Qualcomm — semiconductors (19.0 miles) — HQ
- Sysco — food distribution (20.8 miles)
364 5th Ave is a mid-sized, 48-unit asset in an amenity-dense Urban Core setting. The 1985 construction is newer than the neighborhood’s average vintage, which can offer a relative competitive edge versus older stock while still presenting value-add potential through targeted modernization of interiors and building systems. Strong neighborhood amenity access, a high share of renter-occupied housing units, and sustained occupancy near the low-90s support a case for durable demand and leasing stability, according to CRE market data from WDSuite.
Investor considerations include elevated rent-to-income dynamics and neighborhood safety that trails national medians; these factors warrant thoughtful rent setting, resident experience improvements, and security planning to protect retention. Counterbalancing these risks, 3-mile projections indicate growth in households and incomes, suggesting a broader tenant base and capacity for renovated product to capture demand over the medium term.
- Urban Core location with top-tier amenity density that supports leasing velocity and day-to-day convenience.
- Newer 1985 vintage vs. local average, with clear modernization/value-add pathways.
- High renter-occupied housing share and neighborhood occupancy in the low-90s underpin demand stability.
- Diverse nearby employers in utilities, defense, biotech, and technology help broaden the tenant base.
- Risks: below-median safety and affordability pressure require attentive lease and security management.