| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Poor |
| Demographics | 28th | Poor |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 971 4th Ave, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 2000 |
| Units | 59 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
971 4th Ave Chula Vista Multifamily Investment
This 59-unit property built in 2000 serves a renter-concentrated neighborhood with sustained demand fundamentals, as median rents have risen 35% over five years according to CRE market data from WDSuite.
971 4th Ave is located in an urban core neighborhood in Chula Vista, San Diego County, rated B- among 621 metro neighborhoods. The property was built in 2000, placing it well above the neighborhood's average construction year of 1972. This vintage positions the asset favorably for reduced near-term capital expenditure relative to older competing stock, supporting operational stability and competitive appeal.
Within a 3-mile radius, demographic statistics reveal a stable renter base: 51% of housing units are renter-occupied, ranking in the 92nd percentile nationally and signaling deep demand for multifamily housing. The area's population of approximately 155,000 has grown modestly by 1.3% over the past five years, while household counts increased 2.4%, indicating ongoing household formation that supports tenant absorption. Median household income stands at approximately $76,700, with notable upward momentum—income has grown 45% over five years and is projected to rise another 38% through 2028, reaching approximately $105,800. This trajectory supports lease retention and pricing power as renter purchasing capacity expands.
Neighborhood-level median rents of approximately $1,958 rank in the 91st percentile nationally, reflecting strong pricing relative to comparable metros. Rents have increased 35% over five years, outpacing income growth and underscoring sustained demand. However, the rent-to-income ratio of 0.37 ranks in the bottom 2nd percentile nationally, signaling affordability pressure that warrants careful lease management and attention to tenant retention strategies. Neighborhood occupancy of 86.6% has improved modestly but remains below the metro median, ranking 552nd of 621 neighborhoods. Investors should monitor absorption trends and competitive supply closely.
Median home values in the neighborhood are approximately $620,000, ranking in the 90th percentile nationally, and have appreciated 49% over five years. Elevated ownership costs limit accessibility to homeownership for many households, sustaining reliance on rental housing and reinforcing multifamily demand. The value-to-income ratio of 7.5 ranks in the 94th percentile nationally, further supporting the depth of the renter pool.
Amenity density is competitive: the neighborhood offers 1.3 cafes, 1.3 grocery stores, and 1.3 pharmacies per square mile, each ranking in the top quartile nationally for convenience retail. Childcare density of 2.6 centers per square mile ranks in the 95th percentile nationally, a meaningful draw for family renters. Restaurant density of 9.1 per square mile ranks in the 89th percentile. However, the neighborhood has no parks per square mile, ranking last among metro neighborhoods, which may impact appeal for certain tenant profiles. Average school ratings of 2.0 out of 5 rank in the 37th percentile nationally, a consideration for families prioritizing educational quality.
Safety conditions in this urban core neighborhood present mixed signals that merit careful consideration. Property crime rates are estimated at approximately 1,410 incidents per 100,000 residents annually, ranking 305th among 621 San Diego metro neighborhoods and placing in the 16th percentile nationally. However, property crime has declined sharply—down 48% year-over-year—ranking 22nd in the metro for improvement and in the 87th percentile nationally for positive trend direction. This trajectory suggests stabilizing conditions that may support tenant confidence over time.
Violent crime is estimated at approximately 818 incidents per 100,000 residents, ranking 552nd of 621 neighborhoods and in the 6th percentile nationally, indicating elevated levels relative to most metro and national peers. Violent crime has increased 28% year-over-year, ranking in the 33rd percentile nationally for trend direction. Investors should weigh these dynamics carefully, as safety perceptions can influence tenant retention, lease-up velocity, and insurance costs. Contextualizing neighborhood safety within broader metro trends and monitoring forward indicators will be important for long-term hold strategies.
The property benefits from proximity to major corporate anchors in San Diego's downtown and northern submarkets, supporting workforce housing demand and commute convenience. Key employers within a reasonable drive include Sempra Energy, Qualcomm, and Celgene Corporation.
- Sempra Energy — energy & utilities (8.0 miles) — HQ
- Wells Fargo ATM — financial services (8.6 miles)
- L-3 Telemetry & RF Products — defense & aerospace (14.6 miles)
- Celgene Corporation — biopharmaceutical (20.1 miles)
- Qualcomm — technology & telecommunications (20.5 miles) — HQ
This 59-unit multifamily asset presents an investment profile anchored by sustained rental demand fundamentals in a renter-concentrated San Diego submarket. The property's 2000 vintage positions it favorably relative to neighborhood stock built on average in 1972, supporting operational efficiency and competitive positioning with reduced near-term capital requirements.
Demographic tailwinds underpin demand stability: 51% of area housing units are renter-occupied, ranking in the 92nd percentile nationally, while household formation has outpaced population growth over five years. Median household income growth of 45% over the past five years and projected expansion of 38% through 2028 support lease pricing power and tenant retention as purchasing capacity rises. Neighborhood rents of approximately $1,958 rank in the 91st percentile nationally and have appreciated 35% over five years, reflecting sustained willingness to pay.
Elevated home values—approximately $620,000 with 49% five-year appreciation—and a value-to-income ratio in the 94th percentile nationally create a structural barrier to homeownership, reinforcing rental demand and limiting competitive pressure from ownership alternatives. The property's proximity to major employers including Sempra Energy, Qualcomm, and Celgene Corporation supports workforce housing appeal and commute convenience.
Investors should note mixed risk factors: neighborhood occupancy of 86.6% ranks below the metro median, warranting attention to competitive supply and absorption trends. Safety metrics present divergent signals, with property crime declining sharply but violent crime elevated relative to metro peers. Affordability pressure, reflected in a rent-to-income ratio ranking in the bottom 2nd percentile nationally, suggests careful lease management and tenant retention strategies will be critical. Overall, the asset offers exposure to a deep renter pool with income growth momentum, balanced by execution considerations tied to occupancy, safety perceptions, and affordability dynamics.