| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 34th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 379 K St, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 2000 |
| Units | 22 |
| Transaction Date | 2021-06-08 |
| Transaction Price | $3,500,000 |
| Buyer | GREENTREE FAMILY LLC |
| Seller | KUEBLER ALLAN J |
379 K St Chula Vista Multifamily Investment
This 22-unit property built in 2000 operates in a neighborhood with 94.4% occupancy and strong rental demand. Commercial real estate analysis from WDSuite indicates neighborhood-level rents have increased 31.7% over five years, supporting rental income stability.
This Urban Core neighborhood in Chula Vista ranks in the top quartile nationally for amenities, with high-density access to groceries (11.14 per square mile) and childcare facilities (6.37 per square mile). The area maintains 94.4% neighborhood occupancy with median contract rents at $1,744, reflecting strong rental demand fundamentals.
Demographics within a 3-mile radius show a stable renter base with 53.2% of housing units occupied by renters. The population of 142,798 has grown modestly at 1.7% over five years, while household formation increased 2.8%, supporting multifamily demand. Median household income of $75,407 provides adequate rent-paying capacity, though rent-to-income ratios warrant monitoring for lease retention considerations.
The property's 2000 construction year aligns with neighborhood averages, reducing near-term capital expenditure pressure compared to older vintage properties. Home values averaging $628,540 with 46.4% five-year appreciation reinforce rental demand, as elevated ownership costs keep households in the rental market longer.
Forward-looking demographics project continued household growth to 60,959 units by 2028 (36.8% increase) with median rents rising to $2,387, indicating sustained rental pool expansion and pricing power potential for well-positioned multifamily assets.
The neighborhood shows mixed safety trends that warrant investor attention. Property crime rates rank 503rd among 621 metro neighborhoods, placing it in the lower performance tier. However, recent trends show improvement with property crime declining 37.6% year-over-year, ranking 53rd among metro neighborhoods for crime reduction.
Violent crime rates remain elevated at 693 incidents per 100,000 residents, though this metric also shows improvement with a 22.4% year-over-year decline. Investors should factor ongoing security considerations into property management strategies while monitoring whether recent crime reduction trends continue.
The Chula Vista area benefits from proximity to major San Diego employment centers, with energy and technology companies providing workforce housing demand within reasonable commuting distance.
- Sempra Energy — energy utilities (7.6 miles)
- Sempra Energy — energy utilities HQ (8.3 miles)
- L-3 Telemetry & RF Products — defense technology (14.2 miles)
- Qualcomm — technology HQ (20.1 miles)
This 22-unit property benefits from strong neighborhood fundamentals including 94.4% occupancy and 31.7% five-year rent growth. The 2000 construction vintage reduces immediate capital expenditure needs while positioning the asset competitively within the local market. CRE market data from WDSuite indicates the area's high amenity density and renter-majority housing stock support sustained rental demand.
Demographic projections show household growth accelerating to 36.8% by 2028, expanding the tenant pool significantly. Rising home values and elevated ownership costs reinforce rental market participation, while proximity to major employers like Sempra Energy and Qualcomm provides workforce housing demand. However, investors should monitor safety trends and rent-to-income ratios for potential lease retention challenges.
- Strong neighborhood occupancy at 94.4% with 31.7% five-year rent growth
- Year 2000 construction reduces near-term capital expenditure pressure
- Projected 36.8% household growth by 2028 expands tenant base
- High home values reinforce rental demand over ownership
- Risk consideration: Monitor safety trends and rent affordability for lease retention