| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Poor |
| Demographics | 35th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 561 Park Way, Chula Vista, CA, 91910, US |
| Region / Metro | Chula Vista |
| Year of Construction | 2000 |
| Units | 34 |
| Transaction Date | 2025-06-11 |
| Transaction Price | $8,355,000 |
| Buyer | MAR BAY LLC |
| Seller | VIHA CORPORATION |
561 Park Way Chula Vista Multifamily Investment
Neighborhood occupancy has trended upward with a high renter-occupied share, supporting durable tenant demand according to WDSuite’s CRE market data. Proximity to jobs and everyday amenities points to steady leasing fundamentals for a 34-unit asset.
Located in Chula Vista’s urban core, the area scores competitive among San Diego-Chula Vista-Carlsbad neighborhoods for amenities (strong restaurant and grocery density) and sits in the top quartile nationally for access to parks and pharmacies. Daily needs are close by, which helps reinforce renter convenience and supports retention.
The neighborhood’s housing stock skews older than the subject’s 2000 construction (area average vintage is 1973), giving a newer asset relative competitiveness versus nearby properties. Investors should still plan for routine system updates and potential modernization to maintain positioning against renovated peers.
Multifamily dynamics are anchored by a high share of renter-occupied housing units within the neighborhood, indicating depth in the tenant base and supporting occupancy stability over time. Neighborhood occupancy has improved over the last five years, a constructive indicator for cash flow consistency.
Within a 3-mile radius, demographic statistics show modest recent softness in population but forecasts point to population growth and a meaningful increase in households through 2028, implying a larger tenant base and more renters entering the market. The average school rating in the neighborhood trends below metro norms, which can temper demand among family renters, but strong amenity access and commute convenience can offset some of that impact for workforce-oriented units.
Ownership costs in the neighborhood are relatively elevated compared with incomes by national benchmarks, which tends to sustain reliance on multifamily rentals. At the same time, rent-to-income levels indicate some affordability pressure, suggesting a need for disciplined lease management and renewal strategies.
Safety metrics indicate the neighborhood experiences higher crime levels than many parts of the metro, and it sits in lower national percentiles for safety. However, recent trends are improving: both violent and property offense rates have declined year over year, an encouraging directional signal to monitor.
Compared with other neighborhoods in the San Diego-Chula Vista-Carlsbad metro (621 total), the area is not among the top-performing cohorts for safety today, but the downward trajectory in estimated offenses suggests potential for gradual normalization if trends hold. Investors should underwrite with pragmatic assumptions and consider property-level measures that support resident comfort.
Proximity to established employers supports workforce housing demand and commute convenience for renters, including Sempra Energy, L3Harris (L-3 Telemetry & RF Products), Celgene, and Qualcomm. This concentration of energy, defense, biotech, and technology roles underpins leasing depth across cycles.
- Sempra Energy — energy utility (6.46 miles)
- Sempra Energy — energy utility (7.17 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (13.12 miles)
- Celgene Corporation — biotech/pharma (18.57 miles)
- Qualcomm — semiconductors (19.02 miles) — HQ
561 Park Way is a 34-unit asset positioned in an amenity-rich urban core with a high neighborhood share of renter-occupied units and improving occupancy trends. The 2000 construction is newer than much of the surrounding stock, offering competitive appeal versus older properties while leaving room for targeted upgrades to support rent positioning. According to CRE market data from WDSuite, neighborhood fundamentals benefit from strong food-and-grocery access and a large renter base, with forecasts for population growth and an increase in households within a 3-mile radius that point to continued depth in the tenant pool.
From a risk/return perspective, elevated ownership costs versus incomes tend to reinforce rental demand, but rent-to-income levels imply affordability pressure that calls for measured rent growth and renewal strategies. Safety performance trails metro peers today despite recent improvements, and school ratings are below average; both should be reflected in underwriting and marketing to the right renter segments.
- Newer 2000 vintage relative to neighborhood average, supporting competitive positioning with selective value-add potential
- High neighborhood renter-occupied share and improving occupancy underpin demand stability
- Amenity-rich urban core with strong restaurant and grocery access supports retention and leasing
- 3-mile forecasts indicate population growth and more households, expanding the renter pool
- Risks: affordability pressure (rent-to-income), below-average safety and school ratings require prudent operations and underwriting