261 H St
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261 H St
3 Unit Apartment Building $1,100,000 ($366,667/Unit) 2.43% Cap Rate Chula Vista, CA 91910
Investment Highlights
- Three Value-Add Detached Homes
- Substantial Rental Upside
- Less than a block away from Downtown Chula Vista
- Large 12,615 square feet lot with potential development
- Less than a block away from Downtown Chula Vista
- Historical Low Vacancy Rate
Executive Summary
261-63 H Street is a rare investment opportunity featuring three value-add detached homes, each offering 2 bedrooms and 1 bathroom with approximately 765 square feet of living space per unit. Situated on a large 12,615-square-foot lot, this property offers development potential alongside substantial rental upside. Additional features include two single-car garages and laundry hookups for each unit. Located less than a block from Downtown Chula Vista and just 1.6 miles from the Chula Vista Bayfront Development, this property is ideally positioned in a high-demand area.
Chula Vista: A Thriving Coastal Community
Chula Vista, located in the heart of San Diego County, is a vibrant and rapidly growing city renowned for its exceptional quality of life. As one of the largest cities in the region, it offers a unique blend of coastal charm, urban convenience, and suburban tranquility. Its name, meaning "beautiful view," reflects the stunning landscapes, from picturesque mountain backdrops to breathtaking views of the San Diego Bay.
Residents and visitors alike enjoy a thriving downtown area filled with local shops, dining, and entertainment options. Just minutes away, the Chula Vista Bayfront Development is transforming the waterfront into a world-class destination with hotels, parks, and recreational areas. The city boasts excellent schools, diverse cultural attractions, and year-round sunshine, making it a desirable place to live, work, and invest.
With easy access to major highways, public transportation, and the Mexican border, Chula Vista is not only a gateway to international travel but also an integral part of the thriving Southern California economy. Its low vacancy rates and strong demand for housing make it an ideal location for real estate investments.
Chula Vista: A Thriving Coastal Community
Chula Vista, located in the heart of San Diego County, is a vibrant and rapidly growing city renowned for its exceptional quality of life. As one of the largest cities in the region, it offers a unique blend of coastal charm, urban convenience, and suburban tranquility. Its name, meaning "beautiful view," reflects the stunning landscapes, from picturesque mountain backdrops to breathtaking views of the San Diego Bay.
Residents and visitors alike enjoy a thriving downtown area filled with local shops, dining, and entertainment options. Just minutes away, the Chula Vista Bayfront Development is transforming the waterfront into a world-class destination with hotels, parks, and recreational areas. The city boasts excellent schools, diverse cultural attractions, and year-round sunshine, making it a desirable place to live, work, and invest.
With easy access to major highways, public transportation, and the Mexican border, Chula Vista is not only a gateway to international travel but also an integral part of the thriving Southern California economy. Its low vacancy rates and strong demand for housing make it an ideal location for real estate investments.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$102,600
|
$44.71
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,078
|
$1.34
|
| Effective Gross Income |
$99,522
|
$43.36
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$21,930
|
$9.56
|
| Net Operating Income |
$77,592
|
$33.81
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $102,600 |
| Annual Per SF | $44.71 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,078 |
| Annual Per SF | $1.34 |
| Effective Gross Income | |
|---|---|
| Annual | $99,522 |
| Annual Per SF | $43.36 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $21,930 |
| Annual Per SF | $9.56 |
| Net Operating Income | |
|---|---|
| Annual | $77,592 |
| Annual Per SF | $33.81 |
Property Facts
| Price | $1,100,000 | Apartment Style | Garden |
| Price Per Unit | $366,667 | Lot Size | 0.29 AC |
| Sale Type | Investment | Building Size | 2,295 SF |
| Cap Rate | 2.43% | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | Parking Ratio | 4.36/1,000 SF |
| Price | $1,100,000 |
| Price Per Unit | $366,667 |
| Sale Type | Investment |
| Cap Rate | 2.43% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Lot Size | 0.29 AC |
| Building Size | 2,295 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1930 |
| Parking Ratio | 4.36/1,000 SF |
Unit Amenities
- Washer/Dryer
- Ceiling Fans
- Refrigerator
- Yard
- Deck
- Patio
- Porch
- Vinyl Flooring
Site Amenities
- Fenced Lot
- Gated
- Recycling
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | $1,388 | 765 |
Walk Score ®
Very Walkable (77)
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