Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1902 Millenia Ave Chula Vista, CA 91915-3074

    • Apartment buildings
    • 9,999 SF
    • 8.31 lot acres
    OFF-MARKET
    Last Sale
    Dec 07, 2021
    $24,202,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-7926130
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1902 Millenia Ave

    Year built
    2021
    Lot size
    8.31 lot acres
    Property size
    9,999 SF
    Zone code
    R-3:RESTRICTED MULTIPLE
    Property type
    Apartment buildings
    APN
    643-060-92-00
    APU
    6430609200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chula Vista
    County
    San Diego
    State
    California
    Longitude
    -116.968
    Latitude
    32.6119
    CBSA code
    41740
    CBSA name
    SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $1,443,480
    $20,808,000
    $96,448,379
    $117,256,379
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $13,255,000
      77,180 SF

      2815 Cielo Circulo

      APARTMENT HOUSE (5+ UNITS) • 77,180 SF
      2815 Cielo Circulo, Chula Vista, CA 91915-2891
      View Details
    • Value Estimation by Request
      4.51 Acres

      Xrds St

      APARTMENT HOUSE (5+ UNITS) • 4.51 Acres
      Xrds St, Chula Vista, CA 91915
      View Details
    • Value Estimation
      $7,680,000
      68,739 SF

      1715 Orion Ave

      APARTMENT HOUSE (5+ UNITS) • 68,739 SF
      1715 Orion Ave, Chula Vista, CA 91915-2701
      View Details
    • Value Estimation by Request
      9.28 Acres

      2043 Artisan Way

      APARTMENT HOUSE (5+ UNITS) • 9.28 Acres
      2043 Artisan Way, Chula Vista, CA 91915-2342
      View Details
    • Value Estimation
      $525,000
      3.97 Acres

      1445 Town Ctr Dr

      APARTMENT HOUSE (5+ UNITS) • 3.97 Acres
      1445 Town Ctr Dr, Chula Vista, CA 91915-4216
      View Details
    • Value Estimation
      $8,650,000
      73,407 SF

      1734 Solstice Ave

      APARTMENT HOUSE (5+ UNITS) • 73,407 SF
      1734 Solstice Ave, Chula Vista, CA 91915-2711
      View Details

    Similar Nearby for Sale

    • $725,000
      1,630 SF

      Cordova Townhome in Otay Ranch

      Well-maintained townhome with resort-style amenities in a desirable community.
      2208 Pasadena Ct, Chula Vista, CA 91915
      View Details
    • $670,000

      Otay Ranch Townhome with Upgrades

      Two-bedroom, two-bath townhome near Otay Ranch mall.
      1721 Cripple Creek Dr, Chula Vista, CA 91915
      View Details
    • $1,625,545
      2,578 SF

      Chula Vista NNN Leased Property

      NNN leased property in premium location with corporate guaranty.
      2082 Otay Lakes Rd, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      3.00 Acres

      Chula Vista Commercial Land Opportunity

      Prime 3-6 acre commercial lot in Chula Vista, CA.
      1227 Eastlake Pkwy, Chula Vista, CA 91915
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      104,000 SF

      Windingwalk Marketplace Retail Space

      Prime Otay Ranch retail center; spaces available.
      2110-2160 Eastlake Pkwy, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      3,464 SF

      Retail Space in Chula Vista

      Retail space available for lease in Chula Vista, CA.
      2315 Otay Lakes Rd, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space Available For Rent

      Retail space available for lease in Chula Vista, CA.
      2290 Otay Lakes Rd, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Chula Vista

      Retail space available for lease in Chula Vista, CA.
      2010 Birch Rd, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      1,274 SF

      Retail Space Available For Rent

      Retail space available for lease in Chula Vista, CA.
      1725 Eastlake Pkwy, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      363,300 SF

      Eastlake Terraces Shopping Center

      Prime San Diego Retail Space Available
      1320-1480 Olympic Pkwy, Chula Vista, CA 91915
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1902 Millenia Ave
    Chula Vista, CA 91915-3074
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.