| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 64th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3625 Earnscliff Pl, San Diego, CA, 92111, US |
| Region / Metro | San Diego |
| Year of Construction | 1985 |
| Units | 30 |
| Transaction Date | 2025-02-21 |
| Transaction Price | $67,620,000 |
| Buyer | AAT GENESEE PARK LLC |
| Seller | HESS GENESEE PARK LLC |
3625 Earnscliff Pl San Diego Multifamily Investment
Neighborhood renter-occupied share and occupancy levels indicate a durable tenant base, according to WDSuite’s CRE market data. Positioned for steady leasing in an urban-core pocket of San Diego, the asset benefits from strong local amenities and a high-cost ownership market.
Located in San Diego’s Urban Core, the neighborhood rates highly for day-to-day convenience and lifestyle amenities. It ranks 14th out of 621 metro neighborhoods for overall amenities, placing it in the top quartile locally and aligning with a 95th national percentile for amenity access. Cafes and childcare are standouts (both competitive among San Diego neighborhoods), while groceries, restaurants, parks, and pharmacies also track above national norms—useful for both leasing appeal and retention.
The neighborhood’s renter-occupied share is elevated relative to many parts of the metro, supporting depth in the tenant pool and consistent interest in multifamily units. Median neighborhood occupancy is in the low-90s, which helps underpin income stability for professionally managed assets. Median home values in the area are elevated versus national markets, reinforcing reliance on multifamily housing and supporting pricing power where unit quality and management execution are strong.
Within a 3-mile radius, demographic data indicate modest population softening alongside an increase in households and smaller average household size over time. This pattern typically expands the renter pool and supports occupancy stability, especially for well-located properties with practical floor plans. Household incomes have risen notably in recent years, while rents have also advanced—an affordability dynamic that investors should monitor for retention and renewal strategies.
Vintage context also matters: the neighborhood’s average construction year skews to the early 1970s, while this property dates to 1984. That relative youth can position the asset competitively versus older stock in the area, while still warranting targeted modernization or systems updates to meet current renter expectations.
Safety indicators for the neighborhood trend below national medians and sit below the metro average. The area’s crime rank places it in the lower tiers among 621 San Diego metro neighborhoods, indicating comparatively higher reported incidents than many peers. Nationally, the neighborhood falls into lower percentiles for both violent and property offenses, signaling that investors should underwrite prudent security measures and operating practices.
Recent year-over-year changes point to some upward movement in offense rates. For underwriting, this typically argues for proactive lighting, access control, and resident engagement, and for reflecting insurance and security line items appropriately. As always, safety conditions vary by block and over time; investors should corroborate trends through multiple sources and site-level observation.
Proximity to established employers supports workforce housing demand and commute convenience for residents, anchored by defense electronics, biotech, wireless, utilities, and food distribution.
- L-3 Telemetry & RF Products — defense & aerospace electronics (2.6 miles)
- Celgene Corporation — biotech/pharma (5.5 miles)
- Qualcomm — wireless & semiconductors (6.1 miles) — HQ
- Sempra Energy — utilities (6.3 miles) — HQ
- Sysco — food distribution (11.3 miles)
3625 Earnscliff Pl is a 30-unit 1984-vintage asset with larger-than-typical floor plans for the market, a combination that can aid lease-up and retention when paired with focused upgrades. Based on CRE market data from WDSuite, the surrounding neighborhood shows strong amenity access, an elevated renter-occupied share, and occupancy in the low-90s—factors that generally support income durability. Elevated home values relative to national markets reinforce renter reliance on multifamily housing, while household income growth in the 3-mile radius creates room for quality-driven rent positioning, subject to careful affordability management.
Forward-looking demographics within 3 miles point to more households and smaller average household size, which typically expands the renter base. Relative to the neighborhood’s older housing stock, a 1980s build can compete well with targeted modernization and system updates. Key risks to underwrite include below-average safety metrics (versus metro and national benchmarks) and the need to balance pricing power with rent-to-income levels to support renewal rates.
- 1984 vintage and larger unit sizes support competitive positioning with targeted renovations
- Strong neighborhood amenity access and elevated renter concentration underpin leasing demand
- High-cost ownership market reinforces multifamily demand and pricing power for quality product
- 3-mile outlook: more households and smaller sizes suggest a broader tenant base over time
- Risks: below-average safety metrics and affordability management required to sustain retention