| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 70th | Good |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11355 Zapata Ave, San Diego, CA, 92126, US |
| Region / Metro | San Diego |
| Year of Construction | 1978 |
| Units | 112 |
| Transaction Date | --- |
| Transaction Price | $6,300,000 |
| Buyer | OWNERSHIP NAME INFORMATION |
| Seller | --- |
11355 Zapata Ave San Diego Multifamily Investment
This 112-unit property sits in a top-quartile San Diego neighborhood with 97.4% occupancy and strong rental fundamentals. Commercial real estate analysis from WDSuite shows the area ranking in the 96th percentile nationally for net operating income per unit.
The property occupies an A+ rated neighborhood that ranks 24th among 621 San Diego metro neighborhoods, placing it in the top quartile for overall investment characteristics. Built in 1978, this vintage aligns with value-add strategies common in established multifamily markets, offering potential renovation upside while maintaining competitive positioning in a neighborhood where average construction dates to 1984.
Neighborhood-level occupancy remains strong at 97.4%, ranking in the 86th percentile nationally and supporting lease retention stability. With 38.9% of housing units renter-occupied, the area maintains solid rental demand depth. Contract rents average $2,279 with 31.2% growth over five years, reflecting sustained pricing power in this submarket.
Demographics within a 3-mile radius show household income strength, with median earnings of $137,844 and 27.5% of adults holding bachelor's degrees. Population projections indicate household growth of 33.9% through 2028, expanding the potential tenant base. School ratings average 5.0 out of 5.0, ranking first nationally among neighborhoods and supporting family renter appeal.
Amenity density supports tenant retention with 5.73 grocery stores per square mile (97th percentile nationally) and 18.32 restaurants per square mile (96th percentile). The neighborhood benefits from urban core designation with strong transit connectivity, though investors should monitor elevated home values at $767,388 median, which reinforce rental demand by sustaining renter reliance on multifamily housing.
Crime metrics require careful monitoring in this urban core location. The neighborhood ranks 533rd among 621 San Diego metro neighborhoods for overall crime, placing it in the 21st percentile nationally. Property offense rates estimate 2,333 incidents per 100,000 residents annually, with an 8.7% increase over the past year.
Violent crime rates show 356 incidents per 100,000 residents, ranking in the 13th percentile nationally. While these metrics warrant due diligence on security measures and tenant screening protocols, the strong occupancy rates suggest current residents find the location acceptable for their housing needs. Investors should factor security enhancements and property management considerations into operating budgets.
The property benefits from proximity to major technology and corporate employers that support professional workforce housing demand in this San Diego submarket.
- Qualcomm — technology headquarters (3.4 miles) — HQ
- Celgene Corporation — biotechnology offices (5.0 miles)
- Sysco — food service distribution (5.3 miles)
- L-3 Telemetry & RF Products — defense technology (7.2 miles)
- Sempra Energy — utility headquarters (14.4 miles) — HQ
This 112-unit San Diego property presents a compelling value-add opportunity in a top-quartile neighborhood with strong fundamentals. The 1978 construction year positions the asset for strategic capital improvements while benefiting from an established location with 97.4% neighborhood occupancy. According to CRE market data from WDSuite, the area generates $17,104 average NOI per unit, ranking in the 96th percentile nationally and indicating robust operating performance potential.
Demographic projections within a 3-mile radius show household growth of 33.9% through 2028, expanding the renter pool substantially. With median household income of $137,844 and contract rents averaging $2,279, the rent-to-income ratio remains manageable at 22%. The concentration of technology employers led by Qualcomm headquarters supports professional tenant demand, while urban core amenities including top-rated schools enhance long-term retention prospects.
- Strong occupancy fundamentals with 97.4% neighborhood rate ranking 86th percentile nationally
- Value-add potential from 1978 vintage in established, amenity-rich location
- Household growth of 33.9% projected through 2028 expanding tenant base
- Technology employment base led by Qualcomm headquarters supports professional demand
- Risk considerations include elevated crime metrics requiring enhanced security protocols