458 L Street #458-460
Ctop 80% of multifamilyChula Vista, CA 91911
Pass at asking: -$3,893/mo full cashflow at 20% down, 7.43% rate.
Works at $542,197 (48% under asking), or at 74% down.
Rent $5,408/mo: 2 units of about 900 sqft, each priced from up to 20 closed leases within 1 mi ($5,090–$5,804).
Beds
4
Baths
2
Sqft
1,800
Year Built
1968
Days on Market
47
Property Type
Duplex
HOA/mo
N/A
MLS ID
PTP2607175
This property is in Chula Vista (91911). Browse neighborhood analytics →
About This Property
Rare opportunity in the heart of Chula Vista combining immediate income with long-term development potential. This remodeled duplex features a new roof and sits on an approximately 14,500-square-foot flat lot zoned R3P14 for multifamily use. Live in one unit and rent the other, or start collecting rental income from day one. The month-to-month leases provide flexibility for an owner-user, investor or future development plans. Ideally located near the Chula Vista Bayfront, Gaylord Pacific Resort & Convention Center, Third Avenue Village, shopping, dining, trolley access and Interstate 5. A unique opportunity to own an updated income-producing property with valuable land and significant future upside.
Small multifamily · 2 units
Valued on income: each unit priced from closed leases nearby, then added up. County records: 2 units.
| Unit | Units | Rent each | Subtotal |
|---|---|---|---|
| Average unit~900 sqft · 20 leases within 1 mi | 2 | $2,704 | $5,408 |
| Gross rent, all units | $5,408/mo | ||
- Gross rent multiplier
- 16.2
- Price per unit
- $524,500
- NOI (a year)
- $26,465
- Cap rate
- 2.52%
Price ÷ a year's gross rent
Median $477,483 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 1.
- Down payment
- $36,715
- Your cost to live there
- $7,757/mo
- More than renting it
- $5,053/mo
3.5% · plus closing costs
After $2,704/mo from the other unit
vs $2,704/mo to rent the same unit
How this is figured
- Loan $1,030,000 ($1,012,285 + 1.75% upfront mortgage insurance) at 7.18% (Freddie Mac 30-year average, week of Nov 5, 2026), 30 years: $6,978/mo
- FHA mortgage insurance $633/mo · property tax $1,049/mo · insurance $306/mo
- Vacancy, management and capex on the rented units, upkeep on the building: $1,496/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 2 units ($1,413,350). Lenders count only part of the other units' rent toward qualifying.
Compare other buildings on the small multifamily page.
Mortgage Calculator
Est. Monthly Payment
$7,183
Location
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Zoned Schools
Elementary
Rice (Lilian J.) Elementary · grades PK-6 · Chula Vista Elementary
Middle
Chula Vista Middle · grades 7-8 · Sweetwater Union High
High
Chula Vista 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
3 comps foundThis Property
$5,408
Comp Average
$6,765
1835 Rios Avenue
2,557 sqft · Multi-Family
$1.30M
Est. $8,112/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 2-unit building: on the mid-term and short-term tabs, enter the rent, nightly rate and occupancy for all units combined.
Investment Score
2 units of about 900 sqft, each priced from up to 20 closed leases within 1 mi · $5,090–$5,804
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$3,893/mo short at 20% down; 74% down or +$5,055/mo rent closes it.
- Break-even price
- $542,197
- Break-even rent
- $10,463/mo
- Cashflow at 35% down
- −$2,800/mo
- Down payment to break even
- 74%
- Rate to break even
- Not reachable
48% under asking
$5,055/mo above the estimate
$776,260 cash
Negative even at a 0% loan
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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