99 Broadway, Chula Vista, CA 91910
- $3,400,000
- List Price
- $3,400,000
- Status
- ACTIVE
- MLS#
- 260027097SD
- Lot Size
- 10,890
- Acres
- 0.25
- Days on Market
- 1
- Property Type
- Commercial
- Property Sub Type
- Mixed Use
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.
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Additional Information
- Heat
- Wall Furnace
- Exterior Construction
- Frame, Stucco
- Roof
- Composition
- Attached Structure
- Detached
- Number Of Units Total
- 15
- Gross Scheduled Income
- $292,800
- Operating Expense
- 90800
Listing courtesy of Listing Agent: Ron Chaquica (info@finehotels.net) from Listing Office: The Agency.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.