| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Poor |
| Demographics | 15th | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2887 Main St, Chula Vista, CA, 91911, US |
| Region / Metro | Chula Vista |
| Year of Construction | 1974 |
| Units | 33 |
| Transaction Date | 2015-09-29 |
| Transaction Price | $4,650,000 |
| Buyer | MAIN APARTMENTS LLC |
| Seller | KREUTZCAMP CHARLES F |
2887 Main St, Chula Vista CA Multifamily Investment
Neighborhood occupancy is steady and renter concentration is high, suggesting a durable tenant base according to WDSuite s CRE market data. Positioned in an inner-suburban pocket with everyday amenities, the asset offers value-add potential given its older vintage.
The property sits in an inner-suburban Chula Vista location with strong everyday convenience: neighborhood data show dense grocery (competitive nationally) and restaurant coverage, plus a higher-than-average cafe presence. Park and pharmacy access are limited within the neighborhood, so residents rely on nearby retail corridors for daily needs, based on CRE market data from WDSuite.
For investors, the neighborhood (not the property) shows an occupancy rate around the metro middle, indicating generally stable leasing conditions. Renter-occupied housing accounts for a larger share of units locally than is typical nationwide, which supports depth of tenant demand and reduces lease-up risk during normal cycles.
Within a 3-mile radius, households have increased over the past five years while population edged lower, pointing to smaller household sizes and a broader leasing pool. Median incomes have risen and rents have grown over the period, reinforcing ongoing demand yet warranting attention to affordability and renewal strategies.
Construction in the neighborhood skews newer than this asset (average year 1984 versus the property s 1972), implying a clear value-add path. Targeted renovations and systems upgrades can improve competitive positioning against the slightly newer stock while supporting rent attainment and retention.
Relative to the San Diego-Chula Vista-Carlsbad metro, the neighborhood s safety metrics rank in the lower half (ranked 209 among 621 neighborhoods), placing it below metro average when compared locally and below median versus neighborhoods nationwide. Investors should underwrite prudent security measures and tenant communication to support leasing and retention.
That said, trends are moving in a constructive direction: estimated violent and property offense rates have declined year over year, with property crime improvement in the top quartile nationally and violent crime improvement above the national midpoint, according to WDSuite s CRE market data. Monitoring trajectory and block-level nuances can help align capital plans with observed trendlines.
Regional employment anchors within commuting range support renter demand, led by energy, life sciences, aerospace/defense, and technology. Nearby nodes include Sempra Energy, Celgene, L-3 Telemetry & RF Products, and Qualcomm.
- Sempra Energy energy (9.4 miles)
- Sempra Energy energy (10.1 miles) HQ
- L-3 Telemetry & RF Products aerospace & defense (16.2 miles)
- Celgene Corporation life sciences (21.6 miles)
- Qualcomm technology (22.1 miles) HQ
Built in 1972, this 33-unit asset is older than the neighborhood s average vintage, creating a straightforward value-add and capital planning opportunity to modernize interiors and systems. Neighborhood occupancy sits around the metro middle while renter concentration is elevated, pointing to a relatively deep tenant base and stable leasing backdrop. According to CRE market data from WDSuite, amenity access is strongest for grocery and dining, supporting day-to-day livability and resident retention.
Investor underwriting should account for affordability pressure (rent-to-income is elevated locally) and for below-metro safety standing, even as offense rates have improved year over year. Within a 3-mile radius, households have grown and are projected to expand further with smaller average household sizes, which can translate into a larger renter pool over time.
- 1972 vintage offers clear value-add potential versus newer neighborhood stock
- Renter-occupied share is high locally, supporting demand depth and occupancy stability
- Strong grocery and dining density enhances livability and leasing appeal
- Household growth within 3 miles and smaller household sizes expand the renter pool
- Risks: affordability pressure and below-metro safety standing require disciplined lease management and CapEx planning