| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 34th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 776 3rd Ave, Chula Vista, CA, 91910, US |
| Region / Metro | Chula Vista |
| Year of Construction | 2000 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
776 3rd Ave Chula Vista Multifamily Investment
Neighborhood occupancy has been resilient and renter demand is supported by a high-cost ownership market, according to WDSuite’s CRE market data. The combination points to steady leasing with scope to manage affordability pressures through careful rent and renewal strategies.
Rated B+, the neighborhood is above the metro median among 621 San Diego–Chula Vista–Carlsbad neighborhoods and competitive within the metro’s Urban Core. Investors can expect steady renter interest driven by strong daily needs access, with grocery, pharmacy, parks, and restaurants clustering at levels that outperform most areas nationally.
Rents in the immediate area trend higher than national norms while neighborhood occupancy sits above the national median, signaling durable leasing conditions rather than oversupply. The share of housing units that are renter-occupied is elevated locally, which supports depth of the tenant base and day-one leasing stability for a 38-unit asset.
Within a 3-mile radius, households have grown and are projected to continue increasing, with a gradual shift toward smaller average household sizes. This pattern typically expands the renter pool and supports occupancy stability. Median incomes have trended upward, bolstering the ability to support rent levels, though operators should remain attentive to rent-to-income management to sustain retention.
Local schools rate below national averages, which can modestly influence family-driven demand, but daily-life amenities are a relative strength. The property’s 2000 vintage is newer than the neighborhood’s older housing stock (average year 1969), offering a competitive edge versus legacy assets while leaving room for targeted modernization to support rent premiums over time.
Safety indicators for the neighborhood track below the national median, reflecting comparatively elevated incident rates versus many metro peers. However, recent year-over-year trends show meaningful declines in both property and violent offenses, suggesting improving conditions rather than deterioration.
For underwriting, this points to a need for prudent on-site security and resident experience measures while acknowledging a positive directional trend. Framed against nationwide comparisons, the area is not in the top quartile for safety, yet the improvement trajectory can help support retention and leasing if reinforced by professional operations.
Proximity to major employers in energy utilities, aerospace/defense, and technology supports a broad workforce renter base and commute convenience that can aid retention.
- Sempra Energy — energy utilities (7.6 miles)
- Sempra Energy — energy utilities (8.3 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace offices (14.1 miles)
- Qualcomm — technology & R&D (20.1 miles) — HQ
Built in 2000, the asset is newer than much of the surrounding housing stock, offering relative competitiveness versus older properties while leaving room for selective upgrades that can support rent premiums. Neighborhood fundamentals point to steady leasing: occupancy trends are above national medians, the renter-occupied share of housing units is elevated, and ownership costs are high for the metro, all of which reinforce reliance on multifamily rentals.
Within a 3-mile radius, households are growing and average household size is edging down, expanding the prospective tenant base and supporting occupancy stability. According to CRE market data from WDSuite, local rents outpace national averages, so thoughtful affordability management and amenity-driven value-add can help balance pricing power with renewal risk.
- 2000 vintage outcompetes older local stock; targeted modernization can enhance positioning
- Above-median neighborhood occupancy and an elevated renter-occupied share support leasing stability
- High-cost ownership market sustains multifamily demand and potential pricing power
- Workforce access to major employers underpins demand across cycles
- Risks: below-median safety metrics and rent-to-income pressure require disciplined operations