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370-372 G St 6 Unit Apartment Building $2,249,000 ($374,833/Unit) 4.64% Cap Rate Chula Vista, CA 91910
Investment Highlights
- Two-Building Configuration - The property includes a front Victorian-style residence built in 1924 and a rear four-unit building built in 1963, creati
- Large 0.26-Acre Lot - The oversized lot provides valuable open space, functional site layout, and potential long-term flexibility for future value-add
- Proximity to Major Growth Drivers - The property is minutes from the Chula Vista Bayfront redevelopment, one of South Bay’s most significant long-term
- Balanced Unit Mix - Includes one 3-bedroom unit, three 2-bedroom units, and two 1-bedroom units, appealing to a wide range of renters and helping dive
- Prime Downtown Chula Vista Location - Located just a half block from historic Third Avenue Village, offering tenants walkable access to restaurants, c
- Access to Employment and Transit - Convenient access to Downtown San Diego, Naval Base San Diego / 32nd Street, South Bay employment corridors, trolle
Executive Summary
Fantastic six-unit residential income opportunity in the heart of Chula Vista, just a half block from historic Third Avenue Village. Situated on a large 0.26-acre lot, this well-balanced asset consists of two buildings: a front Victorian-style residence with a 3-bedroom, 2-bath downstairs unit and a 2-bedroom, 1-bath upstairs unit, plus a rear four-unit building with two 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units.
The property offers strong in-place income with additional upside potential, making it an attractive opportunity for investors seeking immediate cash flow, long-term appreciation, and possible future value-add or development potential. Residents enjoy a large communal fenced yard, community laundry, and a dedicated parking lot with six spaces.
The prime location is close to Downtown Chula Vista’s restaurants, cafés, breweries, shops, and local businesses, with the Chula Vista Bayfront redevelopment adding to the area’s long-term growth story. A rare chance to acquire a six-unit property in a highly desirable South Bay rental market with strong fundamentals and future upside.
The property offers strong in-place income with additional upside potential, making it an attractive opportunity for investors seeking immediate cash flow, long-term appreciation, and possible future value-add or development potential. Residents enjoy a large communal fenced yard, community laundry, and a dedicated parking lot with six spaces.
The prime location is close to Downtown Chula Vista’s restaurants, cafés, breweries, shops, and local businesses, with the Chula Vista Bayfront redevelopment adding to the area’s long-term growth story. A rare chance to acquire a six-unit property in a highly desirable South Bay rental market with strong fundamentals and future upside.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$170,400
|
$32.17
|
| Other Income |
$12,000
|
$2.27
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$182,400
|
$34.43
|
| Taxes |
$26,988
|
$5.09
|
| Operating Expenses |
$38,763
|
$7.32
|
| Total Expenses |
$65,751
|
$12.41
|
| Net Operating Income |
$116,649
|
$22.02
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $170,400 |
| Annual Per SF | $32.17 |
| Other Income | |
|---|---|
| Annual | $12,000 |
| Annual Per SF | $2.27 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $182,400 |
| Annual Per SF | $34.43 |
| Taxes | |
|---|---|
| Annual | $26,988 |
| Annual Per SF | $5.09 |
| Operating Expenses | |
|---|---|
| Annual | $38,763 |
| Annual Per SF | $7.32 |
| Total Expenses | |
|---|---|
| Annual | $65,751 |
| Annual Per SF | $12.41 |
| Net Operating Income | |
|---|---|
| Annual | $116,649 |
| Annual Per SF | $22.02 |
Property Facts
| Price | $2,249,000 | Apartment Style | Low-Rise |
| Price Per Unit | $374,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.26 AC |
| Cap Rate | 4.64% | Building Size | 5,297 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.32 | No. Stories | 2 |
| No. Units | 6 | Year Built/Renovated | 1964/2020 |
| Property Type | Multifamily | Parking Ratio | 1.13/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R5-30 - R3 Residential | ||
| Price | $2,249,000 |
| Price Per Unit | $374,833 |
| Sale Type | Investment |
| Cap Rate | 4.64% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 13.32 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 5,297 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2020 |
| Parking Ratio | 1.13/1,000 SF |
| Zoning | R5-30 - R3 Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 500 |
| 2+1 | 3 | - | 700 |
| 3+2 | 1 | - | 1,200 |
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Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 568-410-57 | Total Assessment | $1,622,997 |
| Land Assessment | $977,111 | Annual Taxes | $26,988 ($5.09/SF) |
| Improvements Assessment | $645,886 | Tax Year | 2026 |
Property Taxes
Parcel Number
568-410-57
Land Assessment
$977,111
Improvements Assessment
$645,886
Total Assessment
$1,622,997
Annual Taxes
$26,988 ($5.09/SF)
Tax Year
2026
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370-372 G St