$8,355,000
SOLD JUL 30, 2025

Chula Vista, CA 91910

Downtown Chula Vista Neighborhood
9 Beds
5 Baths
26,000 Sq Ft
-- Built

Recently Sold

$321 Per Sq Ft

5% Above List Price

36 Days on Market

About This Home

As of July 2025

We are pleased to offer Parkway Palms in Chula Vista near the new Gaylord Pacific Resort and Convention Center. Parkway Palms offers a desirable unit mix of spacious one, two and three bedroom units. Further, the building includes 35 parking spaces, 7 garage spaces, and 6 carports. The garages and carports offer ADU potential. Further, the property is owned by the original family that built it. It was built to last and maintained with care. Property has newer windows, roofs replaced approx 2017 years ago, several plumbing upgrades and new electrical meters planned. Finally, this property has strong occupancy and offers excellent in-place income with substantial room to increase the rents to market. Please drive by the property discreetly without disturbing the tenants or management.

Last Agent to Sell the Property

ray adams

Ray Adams Investment Real Estate Inc License #00989238 Listed on: 02/28/2025

Last Buyer's Agent

ray adams

Ray Adams Investment Real Estate Inc License #00989238 Listed on: 02/28/2025

Property Details

Home Type

  • Multi-Family

Home Design

  • Frame Construction
  • Stucco

Interior Spaces

  • 9 Bedrooms
  • 26,000 Sq Ft Home
  • 2-Story Property

Parking

  • 34 Car Garage
  • Carport
  • Parking Available

Utilities

  • No Cooling
  • Radiant Heating System
  • Heating System Mounted To A Wall or Window

Listing and Financial Details

  • Total Actual Rent $57,405

Community Details

Overview

  • 4 Buildings
  • 34 Units

Building Details

  • 34 Leased Units
  • Operating Expense $265,214

Property Details

Home Type

Multi-Family

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Stories: 2
  • Unit Levels: 2 Story
  • Property Sub Type: Com-Res Income
  • Community Features: Other/Remarks
  • CapRate: 4.5
  • Co List Office Mls Id: 4865
  • Living Area: 26000.0
  • Structure Type: Apartment
  • FeedTypes: IDX
  • RFModificationTimestamp: 2025-11-18T18:53:37Z
  • FullAddress: 561 Park Way
  • NumofLeasedApartments: 34
  • Special Features: VirtualTour

Interior Features

  • Total Bedrooms: 9
  • Flooring: Slab

Exterior Features

  • Roof: Other/Remarks
  • Construction Type: Frame, Stucco

Garage/Parking

  • Parking Features: Carports, Garages, Spaces
  • Total Parking Spaces: 34.0

Utilities

  • Cooling: None
  • Heating: Radiant, Wall
  • Laundry Features: Leased

Multi Family

  • Number Of Buildings: 4
  • Number Of Units Total: 34
  • Annual Operating Expense: 265214.0
  • Total Actual Rent: 57405.0

Range of Values:

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Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/30/2025 07/30/25 Sold $8,355,000 -6.6% $321 / Sq Ft
04/10/2025 04/10/25 Pending -- -- --
03/09/2025 03/09/25 Price Changed $8,950,000 +12.6% $344 / Sq Ft
03/04/2025 03/04/25 For Sale $7,950,000 -- $306 / Sq Ft
Source: San Diego MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • r

    Seller's Agent in 2025

    ray adams

    Ray Adams Investment Real Estate Inc

    (858) 546-5456

    1 in this area

    30 Total Sales

    ray adams
    Section Image
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Source: San Diego MLS

MLS Number: 250020503

San Diego MLS

APN: 567-103-13-00

California San Diego County Chula Vista 91910

Downtown Chula Vista

Sold

MultiFamily

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