| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Poor |
| Demographics | 27th | Poor |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 615 Moss St, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1986 |
| Units | 28 |
| Transaction Date | 2004-05-28 |
| Transaction Price | $4,000,000 |
| Buyer | MARK I LP |
| Seller | MOSS 28 LLC |
615 Moss St Chula Vista Multifamily Investment
This 28-unit property built in 1986 sits in an inner suburb neighborhood where renter-occupied units represent 45% of housing stock and neighborhood-level contract rents have grown 32% over five years, according to CRE market data from WDSuite.
The property occupies an Inner Suburb neighborhood within the San Diego-Chula Vista-Carlsbad metro, ranking in the 62nd percentile nationally for amenity access. Within a 3-mile radius, demographics show approximately 153,450 residents, with renter-occupied units comprising 56% of total housing tenure—a concentration that supports depth in the multifamily tenant base. Median household income stands at $72,186 and has climbed 45% over the past five years, while contract rents have risen 38% during the same period, reflecting sustained demand across the submarket.
The neighborhood itself recorded a median contract rent of $1,913, placing it in the 90th percentile nationally and demonstrating above-metro pricing power. Neighborhood-level occupancy sits at 85.3%, below the metro median, though violent and property offense rates have declined sharply year-over-year (down 44% and 35%, respectively), suggesting stabilization in public safety trends. Average construction year is 1982, closely aligned with the property's 1986 vintage. This consistency in building stock reduces the risk of structural obsolescence relative to newer competing inventory, though investors should anticipate moderate capital expenditure for systems and unit interiors as the asset approaches 40 years in service.
Amenity density ranks competitively: the neighborhood scores in the 97th percentile nationally for pharmacy access, 94th for grocery stores, and 91st for cafés per square mile. School ratings average 1.0 out of 5.0, placing the area in the 15th percentile nationally—a factor that may limit appeal to family renters but can support workforce and cost-conscious tenant segments. Median home values in the neighborhood are recorded at $195,650, roughly 2.5 times median household income. While this ratio is lower than in many coastal California markets, elevated ownership costs across the broader San Diego metro continue to sustain rental demand and support tenant retention for multifamily operators.
Forward-looking demographics within the 3-mile radius project modest household growth of 36.5% through 2028, driven by shifts in housing unit composition rather than population expansion (population is forecast to decline 2% over the same period). Forecast median household income is expected to reach $99,891, a 38% increase from current levels, while forecast median contract rent is projected at $2,333, up 34%. These trends suggest continued rent growth potential, though operators should monitor occupancy closely given the current below-metro performance and plan for competitive lease management as income growth outpaces population gains.
The neighborhood ranks 137th out of 621 neighborhoods in the San Diego metro for overall crime, placing it in the 41st percentile nationally—a mid-tier position that reflects moderate crime levels relative to both metro and national benchmarks. Property offense rates are elevated, with an estimated 8,116 incidents per 100,000 residents, ranking in the 1st percentile nationally. Violent offense rates stand at approximately 1,166 per 100,000 residents, also in the 3rd percentile nationally.
However, year-over-year trends show meaningful improvement: violent offenses declined 44% and property offenses fell 35%, ranking the neighborhood in the 83rd and 77th percentiles nationally for crime reduction, respectively. These declines suggest recent stabilization and may support tenant retention and leasing velocity over the near term. Investors should continue to monitor local crime data and consider security enhancements or community engagement as part of asset management strategy, particularly given the current absolute crime levels relative to national norms.
The property benefits from proximity to corporate offices anchored by Sempra Energy and other regional employers, supporting commute convenience and workforce housing demand in the Chula Vista submarket.
- Sempra Energy — energy & utilities (8.0 miles) — HQ
- Wells Fargo ATM — financial services (8.5 miles)
- L-3 Telemetry & RF Products — defense & aerospace (14.8 miles)
- Qualcomm — technology & communications (20.6 miles) — HQ
- Celgene Corporation — biotechnology (20.2 miles)
This 28-unit property built in 1986 offers exposure to a San Diego inner suburb neighborhood where commercial real estate analysis from WDSuite shows neighborhood-level contract rents in the 90th percentile nationally and a 32% five-year rent growth trajectory. The 56% renter-occupied share within a 3-mile radius supports depth in the tenant pool, while forecast household growth of 36.5% through 2028 and a projected 38% increase in median household income point to continued demand drivers. Amenity access ranks competitively, with top-decile national scores for pharmacies, groceries, and dining—factors that enhance tenant retention and leasing velocity.
The property's 1986 vintage aligns closely with the neighborhood's 1982 average construction year, reducing obsolescence risk relative to newer competing supply but requiring capital planning for systems and interior upgrades as the asset nears 40 years. Neighborhood-level occupancy of 85.3% sits below the metro median, introducing lease management considerations and the need for competitive positioning. Crime trends show meaningful year-over-year improvement (violent offenses down 44%, property offenses down 35%), though absolute crime levels remain elevated nationally, warranting attention to security and tenant communications. Elevated home values across the broader San Diego metro sustain rental demand, though operators should monitor local occupancy closely and maintain disciplined underwriting around turnover and capital expenditure.
- Neighborhood-level contract rents rank in the 90th percentile nationally, with 32% growth over five years
- 56% renter-occupied housing within 3 miles and forecast household growth of 36.5% through 2028 support tenant base depth
- Top-decile national amenity access (pharmacies, groceries, dining) enhances tenant appeal and retention
- 1986 vintage requires capital planning for systems and interiors; neighborhood occupancy of 85.3% below metro median signals need for competitive lease management