| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Poor |
| Demographics | 36th | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 56 4th Ave, Chula Vista, CA, 91910, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1989 |
| Units | 53 |
| Transaction Date | 2016-09-09 |
| Transaction Price | $6,212,000 |
| Buyer | VILLA PARQ APARTMENT HOMES LP |
| Seller | PETIC & ASSOCIATES LLC |
56 4th Ave, Chula Vista Multifamily Opportunity
Neighborhood-level data points to a deep renter base supporting demand, according to WDSuite s CRE market data. Investors may find durable tenant depth given the area s high renter concentration and everyday amenities.
Situated in Chula Vista s Urban Core, the neighborhood ranks 145 out of 621 on overall amenities top quartile among 621 metro neighborhoods with strong access to groceries and parks (high national percentiles), while cafes and pharmacies are thinner. This mix supports daily living needs and helps stabilize leasing, even if some lifestyle retail is less dense.
The average construction year in the neighborhood is 1972. With a 1989 vintage, this property is newer than the local average, offering relative competitiveness versus older stock while still warranting capital planning for aging systems and selective modernization to capture rent premiums.
Renter-occupied housing accounts for a large share locally (top quartile renter concentration among 621 metro neighborhoods). For multifamily investors, this indicates a deep tenant pool and supports absorption and renewal activity, though effective lease management remains important where rent-to-income ratios can create affordability pressure.
Demographic statistics aggregated within a 3-mile radius show modest population softening in recent years alongside an increase in households and smaller average household sizes a pattern that tends to expand the renter pool. Forecasts point to population and household growth over the next five years, which should expand the tenant base and support occupancy stability.
Home values trend on the higher side relative to incomes (elevated national percentiles for values and value-to-income), creating a high-cost ownership market that reinforces reliance on multifamily housing. Neighborhood median contract rents sit in the upper tier nationally, so pricing power exists but should be balanced against retention risk and renter affordability.
Occupancy at the neighborhood level trails the metro median (ranked in the lower half among 621 metro neighborhoods). Execution will hinge on property-level operations unit quality, amenity positioning, and targeted leasing to outperform neighborhood averages and manage turnover.
Safety indicators for the neighborhood lag national norms, with violent and property offenses positioned in low national percentiles (lower percentiles indicate higher incident rates relative to U.S. neighborhoods). Within the San Diego-Chula Vista-Carlsbad metro, the neighborhood places in the lower half among 621 neighborhoods, suggesting safety is a consideration for underwriting and tenant retention planning.
That said, recent trend data shows a notable year-over-year decline in estimated property offenses, which is a constructive directional signal. Investors should calibrate marketing, security, and community engagement to local conditions and monitor whether favorable trends continue.
Nearby employers span energy, defense/aerospace, biopharma, and wireless, supporting workforce housing demand and commute convenience for residents. The list below focuses on the closest anchors likely to influence leasing and retention.
- Sempra Energy energy & utilities (5.9 miles)
- Sempra Energy energy & utilities (6.6 miles) HQ
- L-3 Telemetry & RF Products defense & aerospace (12.3 miles)
- Celgene Corporation biopharma (17.8 miles)
- Qualcomm wireless & semiconductors (18.3 miles) HQ
This 53-unit, 1989-vintage asset offers relative competitiveness versus older neighborhood stock and a large, renter-oriented tenant base. Amenity access is strong for daily needs, and forward 3-mile forecasts indicate growth in households that should expand the renter pool and support occupancy stability. According to commercial real estate analysis from WDSuite, neighborhood-level occupancy trails metro norms, so value realization depends on property operations, targeted upgrades, and disciplined leasing strategy.
Elevated home values relative to incomes point to a high-cost ownership market that sustains multifamily demand, while upper-tier neighborhood rents suggest pricing power is achievable with the right positioning. Safety metrics trail national benchmarks but show improving trends in property offenses, warranting pragmatic security planning and ongoing monitoring.
- Newer-than-local-average 1989 vintage supports competitive positioning with targeted CapEx and modernization
- Large renter concentration and growing 3-mile household base deepen the tenant pool
- High-cost ownership market reinforces sustained demand for rental housing and potential pricing power
- Amenity access (groceries, parks, restaurants) supports livability and leasing durability
- Risks: neighborhood occupancy below metro median and safety metrics below national norms; success depends on execution and security planning