| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Fair |
| Demographics | 84th | Best |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3365 Elm St, San Diego, CA, 92102, US |
| Region / Metro | San Diego |
| Year of Construction | 1998 |
| Units | 24 |
| Transaction Date | 1997-03-25 |
| Transaction Price | $770,000 |
| Buyer | SAN DIEGO GOLDEN VILLAS |
| Seller | WALSH JOHN B |
3365 Elm St San Diego 24-Unit Multifamily
Neighborhood fundamentals point to durable renter demand and pricing power amid elevated area home values, according to WDSuite’s CRE market data. Expect steady occupancy supported by a substantial renter base in the broader 3-mile radius and competitive schools.
The property sits in an Inner Suburb location within the San Diego–Chula Vista–Carlsbad metro, where the neighborhood rates B+ (ranked 190 of 621 metro neighborhoods). Parks density is a standout strength, landing in the top quartile nationally, while access to groceries is competitive for the metro. Cafes, restaurants, and pharmacies are thinner in the immediate area, a consideration for resident convenience but not uncommon for inner-suburban pockets transitioning between residential and commercial uses.
Local schools are a relative bright spot, with the neighborhood’s average rating near the top of the metro (1 of 621) and in the highest national percentile. For family-oriented renters, this can support lease retention and broaden the tenant pool.
Multifamily demand indicators are constructive. Neighborhood occupancy is around the national median, and the tenure mix shows a meaningful share of renter-occupied units at the neighborhood level, with a substantially higher renter concentration in the surrounding 3-mile radius. Within that 3-mile radius, households have grown over the past five years and are projected to expand further, indicating a larger tenant base even as average household size trends smaller — dynamics that typically support occupancy stability and absorption.
Pricing context is favorable for rentals. Home values in the neighborhood rank near the top of national comparisons, while median contract rents trend high for the metro. This high-cost ownership market tends to sustain reliance on multifamily housing, reinforcing demand depth and supporting renewal capture, based on CRE market data from WDSuite.
Vintage matters for competitive positioning. With a 1998 construction year, the asset is newer than much of the area’s housing stock (average vintage skews toward the late 1960s), which can help on curb appeal and unit livability versus older comparables. Investors should still underwrite typical system updates and selective renovations to maintain competitiveness.
Safety trends should be assessed with metro and national context. Relative to the San Diego metro, the neighborhood’s crime rank is 441 out of 621 neighborhoods, indicating below-metro-average safety. Nationally, safety metrics sit below the median (low national percentiles), so prudent security measures and resident communication may be important for retention.
Recent year trend indicators show increases in both property and violent offenses at the neighborhood level. While single-year moves can be volatile, investors should reflect these dynamics in operating practices, lighting and access controls, and partnership with local resources. Consider comparing trendlines against nearby submarkets during diligence to calibrate expectations on tenant experience and insurance.
Proximity to large employers underpins renter demand through commute convenience and a diversified income base. Notable nearby employers include Sempra Energy, L-3 Telemetry & RF Products, Celgene, Qualcomm, and Sysco.
- Sempra Energy — energy utility (2.47 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace offices (6.83 miles)
- Celgene Corporation — biopharmaceuticals (12.27 miles)
- Qualcomm — wireless & semiconductors (12.68 miles) — HQ
- Sysco — food distribution (15.19 miles)
3365 Elm St presents a 24-unit, 1998-vintage asset positioned in an Inner Suburb pocket where renter demand is reinforced by a high-cost ownership market and strong school ratings. Neighborhood occupancy trends track around national medians, while the broader 3-mile radius shows a deep renter pool and growing household counts — conditions that typically support leasing stability and renewal capture. Based on CRE market data from WDSuite, area home values are elevated relative to national benchmarks, which helps sustain reliance on multifamily housing and provides support for rent levels.
The 1998 construction year offers a competitive edge versus older neighborhood stock, with potential to drive performance through targeted modernization and operational upgrades rather than heavy repositioning. Key watch items include below-median safety metrics and thinner retail conveniences (cafes, pharmacies) in the immediate area; both can be managed through property operations, amenity programming, and marketing that emphasizes commute access to major employers.
- High-cost ownership market supports sustained rental demand and pricing power
- 1998 vintage offers competitive positioning versus older nearby stock, with selective upgrade upside
- Broad 3-mile renter base and household growth bolster tenant pipeline and occupancy stability
- Proximity to major employers supports commute convenience and lease retention
- Risks: below-median safety metrics and lighter immediate retail conveniences require operational focus