| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 88th | Best |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3836 Alabama St, San Diego, CA, 92104, US |
| Region / Metro | San Diego |
| Year of Construction | 1984 |
| Units | 67 |
| Transaction Date | 2007-04-01 |
| Transaction Price | $7,295,000 |
| Buyer | Alabama Manor Housing Assoc., |
| Seller | Michael Hall & Ronald Crampton |
3836 Alabama St San Diego Multifamily Investment
Neighborhood occupancy and renter demand are durable, supported by high renter concentration and urban amenities, according to WDSuite’s CRE market data. Metrics cited reflect neighborhood conditions, not property operations.
This Urban Core pocket of San Diego scores an A neighborhood rating (ranked 50 out of 621 metro neighborhoods), signaling strong fundamentals for multifamily demand. Neighborhood occupancy trends are competitive among San Diego-Chula Vista-Carlsbad neighborhoods, and a high share of renter-occupied units indicates a deep tenant base for leasing and renewals. Elevated home values relative to incomes place the area among the higher-cost ownership markets nationally, which typically supports sustained reliance on rental housing and can aid pricing power for well-positioned assets.
Amenity access is a clear strength. Cafes, restaurants, and groceries rank in the top quartile among 621 metro neighborhoods, with national amenity densities well above average. Average school ratings around 4.0 also place the area in the top quartile among 621 metro neighborhoods, providing an additional quality-of-life anchor that can support retention across a range of renter cohorts.
Within a 3-mile radius, demographics point to a larger tenant base over time: population and household counts have grown in recent years, and forecasts indicate continued household growth alongside smaller average household sizes. For investors, this combination suggests more renters entering the market and supports occupancy stability for studios and smaller one-bedrooms, consistent with the property’s average unit size profile.
Vintage in the surrounding housing stock averages around 1980. With a 1984 construction year, the asset is somewhat newer than the neighborhood norm, which can confer competitive positioning versus older inventory. That said, investors should plan for aging systems and potential modernization or value-add upgrades to align with renter expectations and sustain rent levels.
Affordability dynamics are notable: neighborhood rent-to-income is comparatively moderate for the region, while ownership remains a high-cost path (home values and value-to-income sit in the mid- to high-90s national percentiles). For multifamily owners, this mix often supports lease retention and measured rent trade-outs without overextending residents, particularly when paired with continued amenity and service quality.
Safety indicators trail both metro and national benchmarks. The neighborhood’s overall crime rank sits in the lower half of the San Diego-Chula Vista-Carlsbad metro (553 out of 621), and national safety percentiles are low. Violent and property offense measures are similarly below national averages. Recent data shows a slight year-over-year improvement in property offenses, but levels remain elevated relative to many San Diego neighborhoods.
Investors typically account for these dynamics through enhanced on-site management, lighting, and access controls, as well as resident engagement. Monitoring trend direction and sub-area variation within the neighborhood can help align operating practices with risk management objectives.
Proximity to major employers supports renter demand through commute convenience and diversified job bases. Notable nearby anchors include Sempra Energy, L-3 Telemetry & RF Products, Celgene, Qualcomm, and Sysco.
- Sempra Energy — energy utilities (2.3 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace offices (5.2 miles)
- Celgene Corporation — biopharma offices (10.3 miles)
- Qualcomm — wireless technology (10.8 miles) — HQ
- Sysco — food distribution (14.0 miles)
3836 Alabama St offers exposure to an A-rated Urban Core neighborhood with competitive occupancy and a high renter-occupied share, supported by dense amenities and solid school ratings. The local ownership market is high cost relative to incomes, reinforcing reliance on multifamily housing and supporting pricing power when paired with quality operations. Based on CRE market data from WDSuite, the neighborhood’s occupancy is strong and renter concentration sits in the top quartile among 621 metro neighborhoods, aligning with durable leasing fundamentals.
Constructed in 1984, the asset is slightly newer than the area’s average vintage, suggesting relative competitiveness versus older stock while still warranting capital planning for system updates and selective value-add. Within a 3-mile radius, recent and forecast growth in households alongside smaller average household sizes points to continued renter pool expansion, particularly for smaller formats, which can support occupancy stability and steady renewals.
- Competitive Urban Core location with top-quartile amenities and school ratings among 621 metro neighborhoods
- Strong neighborhood occupancy and high renter-occupied share support lease-up and retention
- High-cost ownership market underpins multifamily demand and pricing power
- 1984 vintage offers competitive positioning with potential value-add through modernization
- Risks: safety metrics below metro and national averages; minimal nearby parks/pharmacies call for active management and resident-focused site improvements