7-Unit Remodeled Apartment
For Sale
Contact for pricing
134-138 5th Ave, Chula Vista, CA 91910
Walkable Chula Vista property near retail, dining, and neighborhood amenities.
Property Size5,197 SF
Price / SF$480.08
Days on Market193
Property Features for 134-138 5th Ave
General Information
Standard status
Active
Size
5,197 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
7
Building Details
Buildings
3
Units
7
Listing Agency:
Newmark - San Diego
(858) 395-6935
Listed By:
Erik Anderson · License #01991182
Source:
Crexi
Added: Feb 20
Changed: Aug 30
Last Checked: Mar 26 at 12:29AM
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 Newmark - San Diego
Investment Insights
Based on property information with market context.
134-138 5th Avenue is a 7-unit apartment property with 5,197 square feet of building area. The asset has been newly remodeled with high-end finishes, offering a renovated multifamily configuration in Chula Vista.
The property sits near downtown Chula Vista with access to walkable retail, dining, and neighborhood amenities. Its location has a Walk Score of 83/100, and the offering reflects a 6+% cap rate.
The property sits near downtown Chula Vista with access to walkable retail, dining, and neighborhood amenities. Its location has a Walk Score of 83/100, and the offering reflects a 6+% cap rate.
Key Highlights
- 7‑unit apartment property at 134‑138 5th Avenue
- 5,197 square feet of building area
- Newly remodeled with high‑end finishes
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
$83,135
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
3.33%
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%
$1,662,700
$1.7M
Cap Rate 7%
$1,187,643
$1.2M
Cap Rate 9%
$923,722
$923.7K
Market Conditions
NOI Build-Up for 5,197 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
$157.8K $30.36/SF
− Vacancy
−$6.6K −$1.28/SF
EGI
$151.2K $29.08/SF
− OpEx
−$68.0K −$13.09/SF
NOI
$83.1K $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%
$1,662,700
Cap Rate 7%
$1,187,643
Cap Rate 9%
$923,722
Alternative Uses
Best Use
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,135 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $116,025 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
2,091
Businesses Nearby
Explore this area
Business Placement
Demographics for 91910, CA
79,613
Population
28,432
Households
2.8
Avg Household Size
38
Median Age
29%
College-Educated
84%
High-School Grad
12.6 sq mi
ZIP Area
6,318
Density / Sq Mi
$87,705
Median Household Income
$45,476
Median Earnings
$1,930
Median Rent
$676,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Walkable Chula Vista property near retail, dining, and neighborhood amenities.
Where is this apartment building located?
The property is located at 134-138 5th Ave Chula Vista, CA.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: 7‑unit apartment property at 134‑138 5th Avenue; 5,197 square feet of building area; Newly remodeled with high‑end finishes
