1835 Rios Avenue
Btop 30% of multifamilyChula Vista, CA 91911
Pass at asking: -$3,738/mo full cashflow at 20% down, 7.43% rate.
Works at $813,296 (37% under asking), or at 62% down.
Rent $8,112/mo: 3 units of about 852 sqft, each priced from up to 17 closed leases within 1 mi ($7,299–$8,559).
Beds
—
Baths
—
Sqft
2,557
Year Built
2026
Days on Market
63
Property Type
Multi-Family
HOA/mo
N/A
MLS ID
PTP2606808
This property is in Chula Vista (91911). Browse neighborhood analytics →
About This Property
This is not your average new construction. This is an extraordinary opportunity to own three residences in one incredible property! Welcome to 1835 Rios Avenue, a brand-new, thoughtfully designed three-unit property offering approximately 2,557 square feet of modern living space and remarkable income potential. The spacious main residence features 3 bedrooms and 2.5 bathrooms, accompanied by two attached 1-bedroom, 1-bathroom units. Creating endless possibilities to live, rent, invest, or do all three! Every residence is beautifully finished with crisp white shaker cabinetry, elegant quartz countertops, durable luxury vinyl plank flooring, double-pane windows, and energy-efficient central air conditioning. Enjoy mountain views, front and rear outdoor spaces, driveway parking, and quick access to both I-5 and I-805. With no HOA and no Mello-Roos, this property delivers the space, flexibility, and long-term potential buyers dream about. Three residences. One phenomenal opportunity. The possibilities are truly unmatched!
Small multifamily · 3 units
Valued on income: each unit priced from closed leases nearby, then added up. The listing says 3 units.
| Unit | Units | Rent each | Subtotal |
|---|---|---|---|
| Average unit~852 sqft · 17 leases within 1 mi | 3 | $2,704 | $8,112 |
| Gross rent, all units | $8,112/mo | ||
- Gross rent multiplier
- 13.4
- Price per unit
- $433,333
- NOI (a year)
- $46,674
- Cap rate
- 3.59%
Price ÷ a year's gross rent
Median $512,250 across 4 listed 2–4 unit buildings in 91911
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.
House hack with FHA
Live in the one unit, rent the other 2.
FHA likely won't lend on this one at this price. For 3 and 4 units it counts 75% of all the units' rent ($6,084/mo), and that has to cover the full payment ($11,110/mo). The numbers below are for reference.
- Down payment
- $45,500
- Your cost to live there
- $8,029/mo
- More than renting it
- $5,325/mo
3.5% · plus closing costs
After $5,408/mo from the other units
vs $2,704/mo to rent the same unit
How this is figured
- Loan $1,276,453 ($1,254,499 + 1.75% upfront mortgage insurance) at 7.18% (Freddie Mac 30-year average, week of Nov 5, 2026), 30 years: $8,647/mo
- FHA mortgage insurance $784/mo · property tax $1,300/mo · insurance $379/mo
- Vacancy, management and capex on the rented units, upkeep on the building: $2,327/mo
- FHA allows 3.5% down on 2–4 units when you live in one, up to HUD's 2026 San Diego County limit for 3 units ($1,708,400). Lenders count only part of the other units' rent toward qualifying.
Compare other buildings on the small multifamily page.
Mortgage Calculator
Est. Monthly Payment
$8,901
Location
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Comparable Properties
3 comps foundThis Property
$8,112
Comp Average
$5,864
458 L Street
4bd / 2ba · 1,800 sqft · Duplex
$1.05M
Est. $5,408/mo
1839 Rios Avenue
1,415 sqft · Multi-Family
$1000K
Est. $4,930/mo
230 Zenith Street
2,240 sqft · Multi-Family
$1.36M
Est. $7,254/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
This is a 3-unit building: on the mid-term and short-term tabs, enter the rent, nightly rate and occupancy for all units combined.
Investment Score
3 units of about 852 sqft, each priced from up to 17 closed leases within 1 mi · $7,299–$8,559
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$3,738/mo short at 20% down; 62% down or +$4,855/mo rent closes it.
- Break-even price
- $813,296
- Break-even rent
- $12,967/mo
- Cashflow at 35% down
- −$2,384/mo
- Down payment to break even
- 62%
- Rate to break even
- 1.29%
37% under asking
$4,855/mo above the estimate
$805,999 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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