198 1st Ave, Chula Vista 91910

Case Study: 198 1st Ave, Chula Vista, CA 91910

2-Unit Multifamily | Sold for $580,000

Represented Seller

Property Overview

198 1st Ave offered a rarely available small multifamily opportunity in the heart of Chula Vista—a walkable, high-demand pocket known for stable tenant demand and strong investment fundamentals. The property featured:

• 2 Units Total

• (1) 4 Bed / 2 Bath

• (1) Studio Unit

• $3,500 Total Monthly Income

• Prime Chula Vista location near transit, retail, and the historic Third Avenue corridor

This configuration attracts a wide range of tenant profiles and provides excellent income stability for small-scale multifamily investors.

Investment Highlights

• Strong in-place rents relative to similar small-unit assets

• Desirable unit mix with a large 4-bedroom floor plan—rare in the Chula Vista rental market

• Low operational overhead typical of duplex properties

• Convenient access to I-5 and I-805, expanding the tenant pool

• Long-term rental demand driven by San Diego’s housing shortage

These characteristics made the property attractive to both traditional landlords and value-add operators seeking cash flow with appreciation upside.

Value-Add Advisory Strategy

For this transaction, the seller needed a pricing and positioning strategy aligned with current Chula Vista multifamily demand.

My brokerage approach focused on three key elements:

1. Localized Multifamily Positioning

We marketed the asset as part of the broader Chula Vista small-multifamily submarket—where duplexes and triplexes consistently outperform on rent growth and days on market.

2. Accurate Value Presentation

I prepared a data-supported valuation capturing:

• Market rent comps for 4-bedroom and studio rentals

• GRM and CAP benchmarks for 2–4 unit properties in South Bay

• Buyer demand trends based on recent investor activity

• This allowed us to set a price aligned with investor expectations while maximizing net proceeds for the seller.

3. Buyer Targeting

Instead of casting a wide general-residential net, we targeted:

• Small multifamily investors

• Owner-users seeking rental income

• Out-of-area buyers looking for Chula Vista stability

This resulted in strong interest and a streamlined transaction process.

Chula Vista Multifamily Market Context

Chula Vista continues to outperform many San Diego submarkets due to:

• Strong workforce housing demand

• Limited new rental construction

• Higher achievable rents relative to purchase price

• Proximity to employment centers and the waterfront redevelopment corridor

For owners evaluating whether to Sell My Apartment Building San Diego, this sale demonstrates ongoing investor appetite for 2–4 unit assets—especially those with large floor plans and stable occupancy.

Result for the Client

198 1st Ave closed at $580,000, delivering a strong return for the seller while giving the buyer a high-demand rental asset with long-term income potential.

This transaction reinforces my track record helping San Diego apartment owners maximize value—whether selling a duplex, 10-unit building, or 50-unit asset.

Considering Selling Your Multifamily Property?

If you are evaluating the sale of a duplex, triplex, or larger apartment building in Chula Vista or anywhere in San Diego County, I provide:

• Property valuations

• Rent and cap rate analysis

• Sales strategy tailored to your submarket

Learn more:

San Diego Apartment Broker – https://www.sandiegoapartmentexpert.com

Sell My Apartment Building San Diego – https://www.sandiegoapartmentexpert.com/sell