| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Fair |
| Demographics | 46th | Fair |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3402 Olga Ave, San Diego, CA, 92123, US |
| Region / Metro | San Diego |
| Year of Construction | 2000 |
| Units | 24 |
| Transaction Date | 2011-12-26 |
| Transaction Price | $35,450,000 |
| Buyer | PRIME HARMARSH LLC |
| Seller | CABRILLO SPRINGS LP |
3402 Olga Ave, San Diego Multifamily Investment Opportunity
Built in 2000 with 24 units, this inner-suburb location shows durable renter demand supported by strong neighborhood amenities and a majority of renter-occupied housing, according to WDSuite s CRE market data.
The property sits in an Inner Suburb of San Diego rated B+ and ranked 180 out of 621 metro neighborhoods competitive among San Diego-Chula Vista-Carlsbad neighborhoods. Amenity density is a clear strength, with cafes, restaurants, groceries, and pharmacies placing the area in the top quartile nationally for several categories, which supports daily convenience and renter appeal.
Median construction year in the neighborhood skews older (1979 average), while this asset s 2000 vintage positions it newer than much of the local stock. That relative youth can reduce near-term capital exposure versus 1970s-era assets while still offering selective modernization or value-add potential as systems age.
Renter-occupied share in the neighborhood is just over half of housing units, a high reading nationally. For investors, that indicates a deep tenant base and supports leasing stability through normal cycles. Neighborhood occupancy has been healthy, and while not top-tier, it aligns with steady inner-suburb performance seen across comparable San Diego locations based on commercial real estate analysis from WDSuite.
Within a 3-mile radius, recent years show roughly flat population alongside growth in households, implying smaller average household sizes and an expanding pool of renting households. Elevated home values locally reinforce reliance on multifamily options, which can support retention and pricing power even as rent-to-income levels require active lease management.
Local livability is driven by access to dining and daily needs; however, park access within the immediate neighborhood is limited. School ratings trend lower than regional norms, which may matter for some family renters, but proximity to jobs and services often offsets that for working-age tenants.
WDSuite s data indicates the neighborhood ranks toward the lower end of the 621 San Diego metro neighborhoods on safety, and sits in lower national percentiles compared to neighborhoods nationwide. In practical terms, crime levels are higher than metro averages, so owners often plan for visibility, lighting, and professional management practices to support tenant comfort and retention.
Trends can vary by offense type year to year, so property-level outcomes depend on execution and on-site controls. Investors typically underwrite with conservative assumptions and consider security enhancements and screening protocols as part of the operating plan.
The location benefits from proximity to established employers that draw a broad professional workforce, supporting renter demand and lease retention. Notable nearby employers include L-3 Telemetry & RF Products, Sempra Energy, Celgene, Qualcomm, and Sysco.
- L-3 Telemetry & RF Products defense & aerospace offices (1.6 miles)
- Sempra Energy utilities & energy (5.9 miles) HQ
- Celgene Corporation biopharmaceuticals (6.5 miles)
- Qualcomm communications technology (6.8 miles) HQ
- Sysco foodservice distribution (10.8 miles)
This 24-unit, 2000-vintage asset offers a relative age advantage versus the neighborhood s predominantly late-1970s stock, with potential to capture value through targeted upgrades rather than full-system overhauls. Strong amenity access and a renter-leaning neighborhood composition support depth of tenant demand and occupancy resilience through typical cycles. Elevated home values in the area tend to sustain multifamily reliance, which can aid renewal rates and pricing discipline.
According to CRE market data from WDSuite, the neighborhood is competitively positioned within the San Diego metro and maintains healthy occupancy alongside robust amenity density. Within a 3-mile radius, households have increased even as population remains roughly stable, pointing to smaller household sizes and a broader renter pool. Key risks include lower-rated schools and below-metro-average safety readings, which justify conservative underwriting and active asset management.
- 2000 construction offers a competitive edge over older local stock, with focused value-add potential
- Renter-occupied share above half supports a deep tenant base and leasing stability
- Amenity-rich inner suburb near major employers underpins demand and renewal potential
- Household growth within 3 miles expands the renter pool despite flat population trends
- Risks: below-metro-average safety and lower school ratings require prudent operations and underwriting