678 Jefferson Avenue
Atop 10% of multifamilyChula Vista, CA 91910
Pass at asking: -$2,719/mo full cashflow at 20% down, 7.43% rate.
Works at $945,890 (27% under asking), or at 51% down.
Rent $9,435/mo: 5 units of about 493 sqft, each priced from up to 15 closed leases within 1 mi ($9,255–$10,280).
Beds
—
Baths
—
Sqft
2,464
Year Built
1955
Days on Market
147
Property Type
Multi-Family
HOA/mo
N/A
MLS ID
NDP2605806
This property is in Chula Vista (91910). Browse neighborhood analytics →
About This Property
We're pleased to present Jefferson Apartments, a 5-unit multifamily investment opportunity located at 678 Jefferson Avenue in Chula Vista, California. Situated on an approximately 8,285 square foot lot, the property consists of five units totaling approximately 2,464 square feet and features a unique unit mix of (1) two-bedroom/one-bath detached house and (4) studio units. Constructed in 1955, the property offers investors stable cash flow, strong rental demand, and significant upside through continued rental growth and strategic property enhancements. The property benefits from separate gas and electric metering, helping minimize landlord utility expenses while improving operational efficiency. Additional amenities include eight on-site parking spaces consisting of one garage, one carport, and six surface spaces, with tenants responsible for dumpster service. The detached two-bedroom home offers privacy and strong tenant appeal, while the studio units provide an efficient and highly sought-after rental product in the South Bay market. Recent ownership improvements include a roof repair completed in April 2025, contributing to the property's long-term stability. Located in the heart of Chula Vista, Jefferson Apartments offers residents convenient access to major employment centers, retail destinations, restaurants, schools, and public transportation. The property is strategically positioned near Interstate 5, Interstate 805, Downtown Chula Vista, the Chula Vista Bayfront redevelopment, and the new Gaylord Pacific Resort & Convention Center, providing tenants with exceptional connectivity and access to one of San Diego County's most active growth corridors. Chula Vista continues to experience substantial investment and redevelopment activity, driven by waterfront improvements, new hospitality projects, infrastructure investment, and sustained population growth. With a desirable coastal location, attractive unit mix, ample parking, utility efficiencies, and measurable rental upside, Jefferson Apartments presents investors with an opportunity to acquire a well-positioned multifamily asset offering both immediate income and long-term appreciation potential. Buyer to verify all property information, including but not limited to square footage, lot size, unit count, unit mix, parking configuration, utility metering, permits, financial information, and market rental assumptions.
Multifamily · 5 units
Valued on income: each unit priced from closed leases nearby, then added up. County records: 5 units.
| Unit | Units | Rent each | Subtotal |
|---|---|---|---|
| Average unit~493 sqft · 15 leases within 1 mi | 5 | $1,887 | $9,435 |
| Gross rent, all units | $9,435/mo | ||
- Gross rent multiplier
- 11.5
- Price per unit
- $260,000
- NOI (a year)
- $59,692
- Cap rate
- 4.59%
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
$8,901
Location
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Zoned Schools
Elementary
Mueller Charter (Robert L.) · grades PK-12 · 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
1 comp foundThis Property
$9,435
Comp Average
$8,649
Comps based on same zip code, similar beds (±1), price range (60-150%).
This is a 5-unit building: on the mid-term and short-term tabs, enter the rent, nightly rate and occupancy for all units combined.
Investment Score
5 units of about 493 sqft, each priced from up to 15 closed leases within 1 mi · $9,255–$10,280
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$2,719/mo short at 20% down; 51% down or +$3,532/mo rent closes it.
- Break-even price
- $945,890
- Break-even rent
- $12,967/mo
- Cashflow at 35% down
- −$1,365/mo
- Down payment to break even
- 51%
- Rate to break even
- 3.21%
27% under asking
$3,532/mo above the estimate
$663,000 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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