Chula Vista Multi-Unit
For Sale
$1,385,000
Pending
1116 2nd Avenue, Chula Vista, CA 91911
Multi-unit property with main house and detached back house.
Property Size3,391 SF
Days on Market296
Property Features for 1116 2nd Avenue
General Information
Standard status
Pending
Size
3,391 SF
Total Parking Spaces
8
Property subtype
Residential Income
Zoning
R-2:MINOR MULTIPLE
Building Details
Year Built
2010
Buildings
2
Units
2
Listing Agency:
Coldwell Banker West
(619) 520-7070
Listed By:
Bertha Llamas · License #00869061
(619) 520-7070
Source:
Compass
Added: Nov 6, 2025
Changed: Aug 23
Last Checked: Aug 28 at 6:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker West
Investment Insights
Based on property information with market context.
This multi-unit property is located in Chula Vista. The main residence includes 7 bedrooms and 4 full baths, with one bedroom and full bath situated on the first floor. The kitchen is open and spacious. A balcony overlooks an outdoor living space that features a jacuzzi, built-in BBQ, and firepit. Parking is provided by a 2-car garage, RV parking, and an oversized driveway with space for up to 6 vehicles. The detached back house contains 3 bedrooms and 2 full baths. It has its own private entrance and a generous backyard. The property is located near shopping, dining, and public transportation, and is suitable for rental income or multi-generational living.
Key Highlights
- Main residence featuring 7 bedrooms and 4 full baths.
- Detached back house with 3 bedrooms, 2 full baths, and private entrance. Ideal for multi‑generational living or rental income.
- Enjoy the outdoor living space with jacuzzi, built‑in BBQ, and firepit.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$54,245
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,084,900
$1.1M
Cap Rate 7%
$774,929
$774.9K
Cap Rate 9%
$602,722
$602.7K
Market Conditions
NOI Build-Up for 3,391 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$103.0K $30.36/SF
− Vacancy
−$4.3K −$1.28/SF
EGI
$98.6K $29.08/SF
− OpEx
−$44.4K −$13.09/SF
NOI
$54.2K $16.00/SF
Area
Chula Vista, CA
Vacancy
4.20%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,084,900
Cap Rate 7%
$774,929
Cap Rate 9%
$602,722
Alternative Uses
Best Use
Apartment 5plus
$774.9K
$678.1K – $904.1K
NOI $54,245 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$946.3K – $1.26M
NOI $75,706 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
844
Businesses Nearby
Explore this area
Business Placement
Demographics for 91911, CA
85,442
Population
27,533
Households
3.1
Avg Household Size
37
Median Age
19%
College-Educated
78%
High-School Grad
12.7 sq mi
ZIP Area
6,728
Density / Sq Mi
$79,334
Median Household Income
$39,003
Median Earnings
$1,931
Median Rent
$602,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Multi-unit property with main house and detached back house.
Where is this multifamily property located?
The property is located at 1116 2nd Avenue Chula Vista, CA.
What is the asking price?
The asking price for this property is $1,385,000.
What are key features of this property?
This property features: Main residence featuring 7 bedrooms and 4 full baths.; Detached back house with 3 bedrooms, 2 full baths, and private entrance. Ideal for multi‑generational living or rental income.; Enjoy the outdoor living space with jacuzzi, built‑in BBQ, and firepit.
