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678 Jefferson Ave 5 Unit Apartment Building $1,600,000 ($320,000/Unit) 3.36% Cap Rate Chula Vista, CA 91910
Investment Highlights
- Currently 100% occupied, with a unit mix of one 2 bedroom, 1 bathroom house style unit and four studio units
- Roof repaired April 2025, reducing near term capital needs for a new owner
- Current rents sit well below market across most of the unit mix, offering a clear path to increased income
- Eight total parking spaces, a private garage, a carport, and six surface spaces, a strong amenity for this unit count
- Each unit separately metered for gas and electric
- Close proximity to third avenue downtown district
Executive Summary
We are pleased to present this 5 unit apartment building located in the heart of Chula Vista, just minutes from Downtown Chula Vista, Gaylord Resort, and Downtown San Diego with convenient access to the I 5 and I 805 freeways for excellent regional connectivity. Built in 1955, the property features a unit mix of one 2 bedroom, 1 bathroom unit and four studio units, totaling approximately 2,464 square feet of building area on a generous 8,285 square foot lot, and the property is currently 100% occupied. The 2 bedroom unit functions as its own separate house, complete with a private patio, while the four studio units offer efficient, low maintenance floor plans well matched to renter demand in this submarket.
Parking is a standout feature for a property of this size, with eight total spaces including a private garage, a carport, and six surface spaces, a meaningful amenity that's difficult to find on comparable studio heavy properties in the area. Each unit is separately metered for gas and electric, simplifying ownership and keeping utility expenses predictable, and the roof was repaired in April 2025, helping reduce near term capital needs for a new owner. Chula Vista, whose name translates to beautiful view, continues to see strong investor interest thanks to its coastal proximity, mild year round climate, and ongoing community investment, with nearby amenities including the San Diego Bay National Wildlife Refuge, the Sweetwater Marsh, and the shops and restaurants along Third Avenue, all within easy reach of the property.
With dependable in place income, a fully occupied rent roll, recent capital improvements already completed, and a clear path to increased cash flow through rent growth, this is a compelling opportunity for an investor looking to add a well located, low maintenance asset to their portfolio. For financial details or to schedule a private tour, contact Ivan Del Muro-Garcia at 760.448.2451 or Eric von Bluecher at 760.929.7846
Parking is a standout feature for a property of this size, with eight total spaces including a private garage, a carport, and six surface spaces, a meaningful amenity that's difficult to find on comparable studio heavy properties in the area. Each unit is separately metered for gas and electric, simplifying ownership and keeping utility expenses predictable, and the roof was repaired in April 2025, helping reduce near term capital needs for a new owner. Chula Vista, whose name translates to beautiful view, continues to see strong investor interest thanks to its coastal proximity, mild year round climate, and ongoing community investment, with nearby amenities including the San Diego Bay National Wildlife Refuge, the Sweetwater Marsh, and the shops and restaurants along Third Avenue, all within easy reach of the property.
With dependable in place income, a fully occupied rent roll, recent capital improvements already completed, and a clear path to increased cash flow through rent growth, this is a compelling opportunity for an investor looking to add a well located, low maintenance asset to their portfolio. For financial details or to schedule a private tour, contact Ivan Del Muro-Garcia at 760.448.2451 or Eric von Bluecher at 760.929.7846
Property Facts
| Price | $1,600,000 | Apartment Style | Low-Rise |
| Price Per Unit | $320,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 3.36% | Building Size | 2,464 SF |
| Gross Rent Multiplier | 17.09 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1955 |
| Property Subtype | Apartment | Parking Ratio | 2.03/1,000 SF |
| Zoning | R1, Chula Vista - Buyer to verify | ||
| Price | $1,600,000 |
| Price Per Unit | $320,000 |
| Sale Type | Investment |
| Cap Rate | 3.36% |
| Gross Rent Multiplier | 17.09 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 2,464 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1955 |
| Parking Ratio | 2.03/1,000 SF |
| Zoning | R1, Chula Vista - Buyer to verify |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
Site Amenities
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | - |
| 2+1 | 1 | - | 1,100 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 571-142-15 | Improvements Assessment | $371,422 |
| Land Assessment | $721,621 | Total Assessment | $1,093,043 |
Property Taxes
Parcel Number
571-142-15
Land Assessment
$721,621
Improvements Assessment
$371,422
Total Assessment
$1,093,043
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