| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Poor |
| Demographics | 15th | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 548 Palomar St, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 2000 |
| Units | 78 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
548 Palomar St Chula Vista Multifamily Investment
This 78-unit property built in 2000 sits in a renter-majority neighborhood with 91.5% occupancy rates. Strong rental demand fundamentals are supported by limited homeownership options and proximity to major San Diego employers.
The property is located in an inner suburb neighborhood that ranks in the bottom half among the region's 621 neighborhoods but demonstrates solid rental market fundamentals. With 55.1% of housing units occupied by renters—ranking in the top 10% nationally—the area provides a substantial tenant base. The neighborhood maintains a 91.5% occupancy rate, indicating stable demand despite broader market pressures.
Demographics within a 3-mile radius show a population of approximately 180,400 residents with median household income of $74,075. While income levels rank below metro averages, projected 5-year household income growth of 40% and rent growth of 33% suggest improving fundamentals. The area's median contract rent of $1,773 reflects affordability relative to broader San Diego County, supporting tenant retention and lease renewal rates.
Built in 2000, this property is newer than the neighborhood average construction year of 1984, positioning it competitively for reduced near-term maintenance needs. The neighborhood offers strong retail density with 20.77 restaurants per square mile (97th percentile nationally) and 6.92 grocery stores per square mile (98th percentile nationally), supporting tenant convenience and retention. However, limited childcare and park amenities may impact family tenant appeal.
Home values averaging $185,579 with 59% growth over five years create elevated ownership costs that reinforce rental demand. The rent-to-income ratio of 0.36 indicates manageable affordability pressure for existing tenants, though investors should monitor renewal rates as income growth expectations materialize.
Crime metrics show mixed trends that require careful monitoring. Property crime rates rank 570th among 621 metro neighborhoods with an estimated rate of 4,700 incidents per 100,000 residents, placing the area in the bottom quartile regionally. However, property crime has declined 38.8% year-over-year, ranking in the top 20% nationally for improvement trends.
Violent crime rates present similar patterns, with current levels ranking 603rd among metro neighborhoods but showing a 10.9% decline over the past year. While absolute crime levels remain elevated compared to metro averages, the improving trajectory suggests positive momentum that could support tenant retention and property values over time.
The property benefits from proximity to major corporate employers that provide workforce housing demand, anchored by energy, financial services, and technology companies within the greater San Diego employment corridor.
- Sempra Energy — energy services (8.7 miles)
- Wells Fargo ATM — financial services (9.2 miles)
- Sempra Energy — energy services (9.4 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (15.4 miles)
- Qualcomm — technology (21.3 miles) — HQ
This 78-unit property presents a value-add opportunity in a stabilizing rental market with strong underlying demand drivers. The 2000 construction year positions the asset competitively within a neighborhood where average building vintage is 1984, potentially reducing capital expenditure needs while offering modern amenities. According to CRE market data from WDSuite, the neighborhood's 91.5% occupancy rate and 55.1% renter-occupied housing share demonstrate sustained rental demand despite broader market headwinds.
Demographic projections within the 3-mile radius show household income growth of 40% and rent growth of 33% over the next five years, suggesting improving tenant quality and pricing power potential. The property's location provides access to major employment centers including Sempra Energy headquarters and Qualcomm, supporting commuter demand. However, investors should monitor crime trends and assess value-add opportunities given the neighborhood's below-average amenity rankings.
- Strong rental demand with 91.5% neighborhood occupancy and 55.1% renter-occupied units
- Newer vintage (2000) compared to neighborhood average provides competitive positioning
- Projected 40% household income growth and 33% rent growth over five years
- Access to major employment centers including Sempra Energy and Qualcomm headquarters
- Crime trends showing improvement with 38.8% decline in property crime year-over-year requires monitoring