Seven miles south of downtown San Diego and four miles north of the U.S. / Mexico border, lies Chula Vista – a bustling City that offers a blend of natural beauty, cultural diversity and economic opportunity. The City’s name, meaning “beautiful view”, reflects its natural surroundings including the Pacific Ocean, San Ysidro Mountains and San Diego Bay and 52 square miles of coastal land, canyons, parks and trails.  Last summer, these characteristics attracted Pathfinder to Casa Madrid, an 88-unit apartment community in central Chula Vista – our first acquisition in Pathfinder Multifamily Opportunity Fund IX, LP.

Built in 1972, Casa Madrid is in the heart of Chula Vista, three miles east of the San Diego Bay and walkable to an array of local and national retail options.  The property features a mix of one, two and three-bedroom apartments and was in mostly original condition at acquisition, providing Pathfinder an opportunity to add value through apartment renovations and common area upgrades.

Since acquiring the property in August, we have repainted the exterior, upgraded the pool with a gas BBQ and new furniture, replaced roofs and installed new windows, signage and exterior lighting.  We have also renovated seven apartments by modernizing the kitchens and bathrooms and adding ceiling fans and vinyl plank flooring.  Our renovation plan focuses on preserving the property’s existing charm while adding modern design and conveniences.