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Ana Algarin

ana@anaalgarin.com +1(760) 387-7167

$ 3,400,000

Est. payment | -/mo

2 Beds

15 Baths

3,093 SqFt

Save

$ 3,400,000

Est. payment | -/mo

Save

2 Beds

15 Baths

3,093 SqFt

Key Details

Property Type Multi-Family

Sub Type Com-Res Income

Listing Status Active

Purchase Type For Sale

Square Footage 3,093 sqft

Price per Sqft $1,099

MLS Listing ID 260027097

Bedrooms 2

Full Baths 15

Lot Size 10,890 Sqft

Property Sub-Type Com-Res Income

Property Description

99 Broadway is a 15-unit multifamily property at the corner of D Ave and Broadway in downtown Chula Vista. Unit mix of 13 studios and two 1BR/1BA units; every unit was renovated in 2023 and converted from hotel use to multifamily. Currently 13 of 15 units occupied, with 2 vacant units (#8 and #14) ready for immediate lease-up. Current gross scheduled rent of $206,400/yr vs. $292,800/yr at market, roughly $86,400/yr (+42%) of rent upside. Offered at a 5.94% cap rate on NOI of $202,000. 3,093 SF building on a 10,890 SF (0.25 AC) lot with 11 surface parking spaces. Zoned C-3 (Broadway North) under the Chula Vista Urban Core Specific Plan. Low-maintenance property with no landscaping. Walkable, transit-served location near bus lines, shops and restaurants, with easy access to SR-54 and I-5. About 7 miles to downtown San Diego, 9 miles to the Mexican border, and close to the Gaylord / Chula Vista Bayfront development. A compelling workforce-housing investment requiring only modest capital expenditure.

Location

State CA

County San Diego

Area South Bay

Zoning C-3

Direction Corner of D Ave and Broadway in downtown Chula Vista.

Interior

Heating Wall

Cooling None

Flooring Slab

Fireplace No

Exterior

Parking Features Spaces

View Y/N No

Roof Type Composition

Total Parking Spaces 11

Building

Dwelling Type Apartment

Story 2

Others

Senior Community No

Tax ID 565-330-02-00

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Listed by Ron Chaquica, DRE#01246523 The Agency
Co-listed bySamuel J Rubio • The Agency

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+1(760) 387-7167

ana@anaalgarin.com

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99 Broadway Chula Vista, CA 91910