| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 26th | Poor |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 520 Naples St, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1973 |
| Units | 71 |
| Transaction Date | 2014-05-07 |
| Transaction Price | $87,050 |
| Buyer | MARK I LP |
| Seller | JACK A HAWKES AND GRACE T HAWKES FAMILY |
520 Naples St, Chula Vista Multifamily Investment
Neighborhood occupancy has remained resilient with above-metro-median stability and a deep renter base, according to WDSuite’s CRE market data. This positioning supports durable demand in a high-cost ownership market while leaving room for value-add execution.
Located in Chula Vista’s Urban Core, the property benefits from neighborhood fundamentals that favor multifamily. Neighborhood occupancy is above the metro median, and renter-occupied housing is concentrated at a high share, indicating a sizable tenant pool and support for lease-up and renewal velocity (these occupancy and tenure figures are measured for the neighborhood, not the property).
Everyday convenience is strong: grocery access and childcare density rank in the top tier nationally, and restaurant density is also competitive. By contrast, cafes, parks, and pharmacies are limited locally, which may modestly affect lifestyle appeal and walk-to amenities. Average school ratings sit below national medians, a factor some renters may weigh alongside commute and housing costs.
Home values in the neighborhood are elevated for the region, and the value-to-income ratio tracks near the top of national readings. In investor terms, this high-cost ownership landscape tends to reinforce reliance on rental housing and can support pricing power, though rent-to-income levels imply affordability pressure that calls for attentive lease management and renewal strategies.
Demographic statistics aggregated within a 3-mile radius show households have grown recently with expectations for further household increases even as population is projected to edge lower, implying smaller average household sizes over time. This shift typically broadens the renter pool and supports occupancy stability, while rising incomes in the radius suggest capacity for quality upgrades where appropriate. The property’s 1973 vintage is slightly older than the neighborhood average year built, pointing to potential value-add and capital planning opportunities to remain competitive versus newer stock.
Safety metrics for the neighborhood trend below metro and national medians, with a crime profile that investors should underwrite conservatively. Nationally, the area sits below the median for safety; within the San Diego–Chula Vista–Carlsbad metro, it performs below average compared with other neighborhoods (rank comparisons are against 621 metro neighborhoods).
Recent momentum is mixed: estimated property offenses have declined sharply year over year, placing that improvement among stronger national movers, while violent offense indicators remain elevated versus national norms. For underwriting, consider enhanced security measures, tenant screening, and insurance assumptions, and monitor the trajectory of these indicators over upcoming periods.
The resident employment base is supported by proximity to regional employers across energy, aerospace/defense, biotech, telecommunications, and foodservice distribution, reinforcing commuter convenience and renter retention. Notable nearby employers include Sempra Energy, L-3 Telemetry & RF Products, Celgene, Qualcomm, and Sysco.
- Sempra Energy — energy (8.9 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace offices (14.9 miles)
- Celgene Corporation — biotech (20.4 miles)
- Qualcomm — telecommunications (20.8 miles) — HQ
- Sysco — foodservice distribution (22.5 miles)
This 71-unit, 1973-vintage asset sits in a neighborhood with above-metro-median occupancy and a notably high share of renter-occupied housing, indicating depth in the tenant base. Elevated ownership costs in the area tend to sustain multifamily demand, while a 3-mile radius shows rising household counts and income growth, which can support targeted renovations and operational improvements.
Based on commercial real estate analysis from WDSuite, neighborhood rent levels and occupancy trends support stable operations, but underwriting should account for affordability pressure and a safety profile that trails national medians. The vintage suggests value-add potential through unit and system updates to strengthen competitive positioning against newer supply.
- Above-metro-median neighborhood occupancy supports leasing stability
- High renter-occupied share indicates a deep tenant base
- 1973 vintage offers value-add and capital planning opportunities
- Elevated ownership costs reinforce demand for rental housing
- Risk: affordability pressures and below-median safety warrant prudent underwriting