122 3rd Ave - Apartments FOR SALE


Chula Vista, CA 91910- North Chula Vista
$8,450,000 USD
858-205-4785
122 3rd Ave, Chula Vista, CA for Sale
$8,450,000 USD
Apartments - FOR SALE
1/9
null | 4.07% Cap Rate

122 3rd Ave
Chula Vista, CA 91910
North Chula Vista


HIGHLIGHTS

  • In place rents are below market
  • Approximately half of the units have been renovated to varying levels
  • Value-add potential for additional income by implementing a RUBs program
  • Ability to sell parcels separately at a later date
  • Walkable to Third Avenue Village

OVERVIEW

Bronze Door Apartments is a well-maintained, garden-style community totaling 29 apartment homes across two adjacent parcels in Chula Vista, California. The first parcel features a 2BD/1BA detached home with a single-car garage and a duplex containing two additional 2BD/1BA units. The second parcel comprises a 26-unit apartment building offering a mix of one- and two-bedroom floor plans. Community amenities include secured entry, common-area laundry facilities, outdoor seating and barbecue areas, a water feature, and a gazebo. The property provides ample on-site parking with 39 total spaces, including one garage space. The asset has been thoughtfully cared for, with the majority of units already renovated to varying finish levels. Rents were last increased on 5/1/25; however, multiple units remain significantly below market, allowing a buyer to implement immediate rent increases across more than a dozen units with minimal risk of tenant turnover. Additionally, a strategic interior and exterior renovation program offers the potential to further enhance rents and improve overall operating performance. Located just one block north of the vibrant Third Avenue Village District, Bronze Door Apartments benefits from a prime Chula Vista location near the Bayfront, and numerous retail and service options. Residents enjoy walkable access to shops, restaurants, local businesses, and the weekly farmers market. Transportation access is another key advantage: the property offers immediate connectivity to Interstate 5, along with convenient public transit options, including multiple bus routes and close proximity to the nearest light-rail station served by the San Diego Trolley.

FOR SALE DETAILS

PRICE

$8,450,000 USD

PRICE/SF

$320 USD /SF

# OF UNITS

29

PRICE/UNIT

$291,379

CAP RATE

4.07%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bronze Door Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

38

LAND DETAILS

LAND ACRES

0.95 AC

LAND SF

41,382 SF

ZONING

R3, Chula Vista

APN/PARCEL ID

566-182-08,566-222-01

ASK ABOUT THIS PROPERTY

Jim NeilKidder MathewsMore Info
858-205-4785

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Jim NeilKidder MathewsMore Info
858-205-4785

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.