1225 3rd
Ctop 80% of multifamilyChula Vista, CA 91911
Pass at asking: -$5,942/mo full cashflow at 20% down, 7.43% rate.
Works at $2,076,223 (27% under asking), or at 51% down.
Rent $20,710/mo: 10 × 1-bed units, each priced from up to 24 closed leases within 2 mi ($19,730–$22,060).
Beds
—
Baths
—
Sqft
5,940
Year Built
1970
Days on Market
119
Property Type
Multi-Family
HOA/mo
N/A
MLS ID
SB26153490
This property is in Chula Vista (91911). Browse neighborhood analytics →
About This Property
SoCal Coastal Capital is proud to present Chula Bella Apartments located on 1225 Third Ave. This turnkey 10-unit property offers an opportunity to acquire a fully stabilized asset on Third Avenue. Built in 1970, the property has been fully renovated with in place RUBS. All units are 1-bed/1-bath units averaging 594 sq ft. with a desirable layout. The building is situated on an 11,761 square foot lot and totals 5,940 rentable square footage. Capital improvements include new railing, new roof, and plumbing. Ample on-site parking available with 10 parking spaces. It boasts a WALK SCORE of 81 with zoning designation CCP-Mixed Use Residential. Call or email listing agent for Offering Memorandum.
Multifamily · 10 units
Valued on income: each unit priced from closed leases nearby, then added up. County records: 10 units.
| Unit | Units | Rent each | Subtotal |
|---|---|---|---|
| 1-bed~594 sqft · 24 leases within 2 mi | 10 | $2,071 | $20,710 |
| Gross rent, all units | $20,710/mo | ||
- Gross rent multiplier
- 11.5
- Price per unit
- $285,000
- NOI (a year)
- $131,114
- Cap rate
- 4.60%
Price ÷ a year's gross rent
Median $330,625 across 32 listed 5+ unit buildings in San Diego County
Default vacancy, management, upkeep, tax, insurance
Its grade compares it with other multifamily listings only: a building valued on income isn't ranked against houses and condos.
Five or more units take a commercial loan, whose terms differ from a home loan's; the cashflow below uses the site's default 20% down, 30-year terms. FHA's owner-occupied 3.5% down covers 2–4 units only.
Compare other buildings on the small multifamily page.
Mortgage Calculator
Est. Monthly Payment
$19,514
Location
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Zoned Schools
Elementary
Lauderbach (J. Calvin) Elementary · grades PK-6 · Chula Vista Elementary
Middle
Castle Park Middle · grades 7-8 · Sweetwater Union High
High
Castle Park Senior High · grades 9-12 · Sweetwater Union High
The district's assigned schools for this parcel, from its attendance boundaries and rules. Boundaries change: confirm with the district before you buy.
Comparable Properties
1 comp foundThis Property
$20,710
Comp Average
$11,316
Comps based on same zip code, similar beds (±1), price range (60-150%).
This is a 10-unit building: on the mid-term and short-term tabs, enter the rent, nightly rate and occupancy for all units combined.
Investment Score
10 × 1-bed units, each priced from up to 24 closed leases within 2 mi · $19,730–$22,060
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$5,942/mo short at 20% down; 51% down or +$7,717/mo rent closes it.
- Break-even price
- $2,076,223
- Break-even rent
- $28,427/mo
- Cashflow at 35% down
- −$2,974/mo
- Down payment to break even
- 51%
- Rate to break even
- 3.22%
27% under asking
$7,717/mo above the estimate
$1,453,500 cash
at 20% down
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* Modelled at 20% down, 7.43% rate, 30yr · vacancy 8% · PM 10% · capex 5% · maintenance 1%/yr.
Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.
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