| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Poor |
| Demographics | 62nd | Good |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3628 Monroe Ave, San Diego, CA, 92116, US |
| Region / Metro | San Diego |
| Year of Construction | 1985 |
| Units | 27 |
| Transaction Date | 1999-10-29 |
| Transaction Price | $1,130,000 |
| Buyer | SULLIVAN THOMAS C |
| Seller | DOUGLAS WEBB |
3628 Monroe Ave San Diego Multifamily Investment
Positioned in an Urban Core pocket with a deep renter base and steady neighborhood occupancy, this 27-unit 1984 asset aligns with sustained demand drivers, according to WDSuite’s CRE market data.
The property sits in an Urban Core neighborhood rated A and ranks 63 out of 621 within the San Diego-Chula Vista-Carlsbad metro—competitive among metro peers and effectively top quartile locally. Amenity access is a clear strength: restaurants, groceries, parks, pharmacies, and cafes all score in the upper national percentiles, supporting day-to-day convenience and renter appeal.
Neighborhood occupancy is above national medians and has trended upward over the past five years, supporting leasing stability. Renter-occupied housing represents a large share of units, indicating depth in the tenant base and consistent multifamily demand. Median home values are elevated for the area, which typically sustains reliance on rentals and can support pricing power and retention for well-managed assets.
Within a 3-mile radius, households have grown and are projected to expand further, pointing to a larger tenant base over the next several years. Income profiles are strengthening, while rent-to-income levels in the neighborhood sit below national averages—favorable for lease management and tenant retention.
School ratings in the neighborhood are mixed relative to national benchmarks, which may align the asset more with young professionals and smaller households. Overall amenity density and employment access remain the primary drivers of housing demand here, based on commercial real estate analysis from WDSuite.
Safety metrics for the neighborhood track below national averages, placing it among less secure areas in national comparisons. That said, recent data show property offenses declining by 11.2% year over year, suggesting some improvement. Investors often incorporate on-site security, lighting, and access controls to support retention and asset performance in similar Urban Core locations.
Proximity to established employers helps underpin renter demand through commute convenience and a diversified white-collar and technology-oriented workforce. Nearby anchors include Sempra Energy, L-3 Telemetry & RF Products, Celgene, and Qualcomm.
- Sempra Energy — utilities (4.0 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace offices (4.5 miles)
- Celgene Corporation — biopharma offices (10.4 miles)
- Qualcomm — telecommunications & semiconductors (10.6 miles) — HQ
3628 Monroe Ave is a 27-unit property built in 1984—newer than the neighborhood’s older housing stock—providing competitive positioning versus vintage assets while still offering potential to modernize systems and finishes. The neighborhood shows steady occupancy with a high concentration of renter-occupied units and elevated ownership costs, which together support a durable tenant base and pricing power. According to CRE market data from WDSuite, amenity density is a standout relative strength and aligns with renter preferences for convenience.
Within a 3-mile radius, households have increased and are projected to expand further, pointing to renter pool expansion that supports occupancy stability and lease-up efficiency. While school scores and safety benchmarks trail national averages, investors often view this Urban Core location’s amenity access and employment reach as key offsets when paired with active property management and targeted capex.
- 1984 vintage offers competitive positioning versus older stock, with scope for targeted modernization.
- High renter concentration and steady neighborhood occupancy support demand depth and retention.
- Elevated ownership costs locally reinforce reliance on rentals, aiding pricing power.
- Amenity-rich Urban Core setting aligns with renter preferences and leasing velocity.
- Risks: below-average safety and mixed school ratings require thoughtful security and leasing strategies.