Enclave at Otay Ranch

JLL, as exclusive advisor, is pleased to present for sale Enclave at Otay Ranch (the “Property”) — a 300-unit, 100% market-rate

multi-housing investment opportunity located within the master-planned community of Otay Ranch in Chula Vista, California.

Built in 2017 by the award-winning Baldwin Company, the Property pairs institutional-quality, single-family-inspired product

with embedded upside in San Diego County’s fastest-growing submarket.

Rising three stories across 9.93 acres, Enclave delivers a garden-style living experience defined by home-builder craftsmanship rarely found in the rental market. Its one-, two-, and three-bedroom residences average 971 square feet — among the largest floor plans in the submarket — and feature quartz countertops, stainless steel appliance packages, full-size in-home washers and dryers, and private patios and balconies. This family-oriented product profile has cultivated a durable renter base earning approximately $151,000 on average, drawn to A-rated assigned schools including Otay Ranch Senior High School, located directly across the street from the property, as well as abundant parkland and the walkable amenities of one of the nation’s most successful master-planned communities.

The Property’s amenity package is the most complete in its competitive set, anchored by a resort-style saltwater pool and spa, a fully-equipped fitness center, a game lounge, outdoor fireside lounges, a children’s playground, and a clubhouse — all within a gated, controlled-access, solar-powered community offering private garages and EV charging. Recognized by the Building Industry Association of San Diego for both, Enclave sets the market standard for lifestyle and resident retention across Otay Ranch.

Enclave also offers a clear runway to rent growth. With a 4.5% loss-to-lease and in-place rents trailing newly constructed market leaders by more than $600 per month — a discount of 20%-plus — the asset provides new ownership meaningful embedded upside, supported by the submarket’s proven demand for luxury product and a rapidly evaporating supply pipeline.

Enclave sits at the center of the broader “Otay Renaissance,” a multi-billion-dollar wave of investment reshaping South County. As San Diego County’s second-largest city and its projected leader in both job and population growth through 2050, Chula Vista pairs a structural demand engine with an acute supply shortage: Otay Ranch and Otay Mesa have accounted for just ~5% of the county’s multifamily deliveries over the past decade, and following 2026, only two market-rate deliveries over 100 units are projected across Otay Ranch and all of Chula Vista.

Enclave at Otay Ranch represents an exceptional opportunity to acquire a modern, institutionally maintained multi-housing asset with proven operating history and significant embedded upside in the supply-constrained heart of San Diego County’s premier growth market.