| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 84th | Best |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3956 Shasta St, San Diego, CA, 92109, US |
| Region / Metro | San Diego |
| Year of Construction | 1992 |
| Units | 24 |
| Transaction Date | 2015-06-18 |
| Transaction Price | $7,500,000 |
| Buyer | GAS & ELECTRIC HEADQUARTERS BLDG SAN DIE |
| Seller | PATHFINDER CROWN POINT APARTMENTS LLC |
3956 Shasta St San Diego Multifamily Investment
Neighborhood data points to a deep renter base and elevated ownership costs that support sustained apartment demand, according to WDSuite’s CRE market data. These metrics reflect neighborhood conditions, not property-level operations.
Positioned in San Diego’s Urban Core, the property benefits from neighborhood fundamentals that are competitive among 621 metro neighborhoods (overall rank 73). Grocery and park access test well versus national benchmarks, while childcare density is also strong; cafes and pharmacies are thinner nearby, which modestly tempers walkable convenience.
The area’s renter concentration is high for the metro (renter-occupied share near the top of local rankings), indicating a broad tenant pool and consistent leasing activity at the neighborhood level. Median home values sit in a higher national percentile, which generally sustains reliance on rentals and can aid retention and pricing discipline for well-managed assets.
Within a 3-mile radius, demographics show a large, income-strong population with recent gains at the top end of household incomes and a projected increase in households over the next five years. This points to a larger tenant base and supports rent absorption, even as household sizes trend smaller.
Neighborhood occupancy has been softer than metro medians in recent periods, suggesting the need for disciplined lease management and property-level differentiation. Notably, the asset’s 1992 vintage is newer than the neighborhood’s average construction year, which can help competitive positioning versus older stock while still warranting targeted modernization to capture renter preferences.
Safety indicators rank in the lower tier within the San Diego metro (closer to the bottom among 621 neighborhoods) and fall below national norms. Recent data points to an uptick in property and violent offenses at the neighborhood level, reinforcing the importance of visible security measures, lighting, and resident engagement for tenant retention. Trends vary by micro-location and over time, so investors typically underwrite to conservative assumptions and monitor ongoing changes.
Proximity to diversified employment—including defense & aerospace, utilities, biotech, semiconductors, and food distribution—supports renter demand and commute convenience for workforce tenants. The employers below reflect nearby anchors that can underpin leasing stability.
- L-3 Telemetry & RF Products — defense & aerospace (6.2 miles)
- Sempra Energy — utilities (6.5 miles) — HQ
- Celgene Corporation — biotech/pharma (6.6 miles)
- Qualcomm — semiconductors (7.6 miles) — HQ
- Sysco — food distribution (14.6 miles)
3956 Shasta St offers exposure to a high-income renter pool and a neighborhood where elevated ownership costs reinforce rental demand. Based on commercial real estate analysis from WDSuite, neighborhood occupancy has trailed metro leaders, but the submarket’s high renter concentration and broad amenity access support leasing depth for well-positioned assets. The property’s 1992 construction is newer than the neighborhood average, suggesting relative competitiveness versus older inventory with potential to capture value through targeted upgrades.
Within a 3-mile radius, forecasts indicate modest population growth and a notable increase in households alongside rising incomes—conditions that typically expand the renter base and support rent durability. Operators should balance pricing power aspirations with vigilant lease management given softer neighborhood occupancy trends and localized safety considerations.
- High renter-occupied share at the neighborhood level signals a deep tenant base and demand resilience.
- Elevated home values and value-to-income ratios support rental reliance and potential pricing discipline.
- 1992 vintage provides a competitive edge versus older stock, with value-add potential through targeted modernization.
- 3-mile forecasts point to household growth and rising incomes, reinforcing leasing fundamentals.
- Risks: neighborhood occupancy softness and below-average safety metrics require conservative underwriting and proactive operations.