| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Poor |
| Demographics | 35th | Poor |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 671 Sea Vale St, Chula Vista, CA, 91910, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1987 |
| Units | 21 |
| Transaction Date | 2020-08-28 |
| Transaction Price | $5,025,000 |
| Buyer | KOWNACKI ANDREW PAUL |
| Seller | SMITH CHARLES D |
671 Sea Vale St Chula Vista Multifamily Investment
Neighborhood occupancy is strong and renter demand is deep, according to WDSuite’s CRE market data, pointing to stable leasing fundamentals for a 21-unit asset in San Diego County.
Located in Chula Vista’s inner suburb fabric, the property sits in a neighborhood that is competitive among San Diego–Chula Vista–Carlsbad submarkets for occupancy, with rates in the top quartile nationally. A high share of housing units are renter-occupied at the neighborhood level, indicating depth in the tenant base and reinforcing multifamily demand.
Livability drivers are mixed: grocery access and parks coverage rank in the top decile nationally, and restaurants are plentiful, while cafes and pharmacies are comparatively sparse. For investors, this balance supports day‑to‑day convenience and resident retention while signaling room for additional convenience retail over time.
Vintage matters: built in 1987, the asset is slightly newer than the neighborhood’s average construction year. That positioning can be competitive versus older stock, though investors should plan for system modernization and selective renovations to meet current renter expectations.
Within a 3‑mile radius, households have grown recently and are projected to increase further even as average household size trends lower, expanding the renter pool. Rising incomes in the 3‑mile area support continued demand, and elevated home values at the neighborhood level sustain reliance on rental options, which can aid lease retention and pricing power.
Safety indicators are below the metro median and benchmark weaker than the national average, so underwriting should assume a more conservative stance on security and insurance costs. That said, WDSuite’s data show year‑over‑year declines in both property and violent offense rates in the surrounding neighborhood, indicating recent improvement momentum.
Proximity to energy, defense/aerospace, biotech, and communications employers supports a broad commuter tenant base and helps underpin leasing stability for workforce and professional renters.
- Sempra Energy — energy infrastructure (6.2 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (12.3 miles)
- Celgene Corporation — biotechnology (17.7 miles)
- Qualcomm — communications & semiconductors (18.1 miles) — HQ
- Sysco — foodservice distribution (20.1 miles)
This 21‑unit, 1987‑vintage asset aligns with a neighborhood showing durable renter demand, competitive occupancy versus the metro, and strong day‑to‑day amenities (notably grocery and parks). The asset’s slightly newer vintage relative to local stock suggests competitive positioning with value‑add potential through targeted system upgrades and unit finishes. Elevated ownership costs at the neighborhood level continue to reinforce reliance on multifamily housing and support tenant retention.
According to CRE market data from WDSuite, neighborhood occupancy trends are above metro medians and in the top quartile nationally, while a high renter‑occupied share points to a deep tenant base. Within a 3‑mile radius, the outlook calls for more households and higher incomes, which can expand the renter pool and support rent growth, though affordability pressure warrants disciplined lease management.
- Competitive neighborhood occupancy and deep renter base support leasing stability
- 1987 vintage offers value‑add potential via modernization and finish upgrades
- Strong grocery and park access aids retention despite limited cafes/pharmacies
- 3‑mile household and income growth underpin demand and pricing power
- Risks: safety metrics below metro median and affordability pressure require prudent operations