| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 32nd | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4044 Estrella Ave, San Diego, CA, 92105, US |
| Region / Metro | San Diego |
| Year of Construction | 1982 |
| Units | 26 |
| Transaction Date | 2012-12-17 |
| Transaction Price | $919,000 |
| Buyer | FANELLI PROPERTIES LP |
| Seller | MR METRO GROUP LLC |
4044 Estrella Ave, San Diego Multifamily Investment
Neighborhood occupancy trends are in the 90% range and renter concentration is high, according to WDSuite’s CRE market data—supporting stable tenant demand for a 26-unit asset in San Diego’s Urban Core.
The property sits in an Urban Core neighborhood rated B (ranked 249 out of 621 within the San Diego–Chula Vista–Carlsbad metro), indicating competitive positioning among metro peers. Local amenity access is a relative strength: the area ranks 81 of 621 for overall amenities and places near the top locally for cafes (rank 49 of 621; 95th percentile nationally) and groceries (rank 78 of 621; 96th percentile nationally). Parks access also scores well (86th percentile nationally). Pharmacy options are limited nearby, which may modestly affect convenience for some residents.
Multifamily fundamentals show demand depth. The share of housing units that are renter-occupied is elevated at the neighborhood level (rank 34 of 621; 98th percentile nationally), which supports a larger tenant base and leasing velocity. Neighborhood occupancy trends hover in the low-90s and are roughly middle-of-the-pack within the metro, suggesting steady, tradable performance rather than outsized volatility. Market rents sit above national norms (81st percentile), while rent-to-income levels indicate some affordability pressure, a factor for lease management and renewal strategies.
Within a 3-mile radius, households have grown recently even as population edged down slightly, implying smaller average household sizes and a broader renting cohort. Looking ahead, WDSuite’s commercial real estate analysis points to projected gains in both household counts and incomes, which can expand the renter pool and support occupancy stability. Elevated home values and a high value-to-income backdrop characterize a high-cost ownership market locally, which tends to reinforce reliance on multifamily rentals and can aid retention.
Schools rate below metro and national averages locally, which may be less critical for predominantly workforce and young-adult renter segments but is still relevant for product positioning. Overall, the mix of strong daily amenities, deep renter concentration, and steady occupancy offers a pragmatic base case for long-term multifamily operations.
Safety indicators warrant attention. The neighborhood ranks toward the higher-crime end of the San Diego–Chula Vista–Carlsbad metro (610 out of 621), and its safety standing falls well below the national median (low national percentiles for both violent and property incidents). Investors typically account for this with practical measures such as security enhancements, lighting, and resident screening to protect retention and operating performance.
While conditions can vary block-to-block, the comparative data indicate risk is elevated versus many San Diego neighborhoods. Monitoring local trends and coordinating with property management on preventive measures can help maintain leasing momentum and protect NOI.
Proximity to major employers supports workforce-driven renter demand and commute convenience, notably in utilities, defense and aerospace, biotech, telecommunications, and foodservice distribution.
- Sempra Energy — utilities (4.8 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (5.6 miles)
- Celgene Corporation — biotech (11.7 miles)
- Qualcomm — telecommunications & semiconductors (11.8 miles) — HQ
- Sysco — foodservice distribution (13.1 miles)
4044 Estrella Ave is a 26-unit asset built in 1982, positioned in an amenity-rich Urban Core pocket with sustained renter demand. Neighborhood occupancy trends sit in the low-90s and the renter-occupied share is notably high, indicating depth of tenant demand and practical leasing stability. Elevated home values relative to incomes suggest a high-cost ownership environment that can bolster reliance on rentals and support retention and pricing power over time.
Based on CRE market data from WDSuite, local rents benchmark above national norms while household counts and incomes within a 3-mile radius are projected to rise, expanding the renter pool. Given the 1982 vintage, investors may underwrite targeted capital planning or value-add updates to remain competitive against newer stock, while leveraging location fundamentals and a dense employment base across utilities, telecom, biotech, and distribution.
- Deep renter base and steady neighborhood occupancy support leasing durability.
- Amenity-rich location near major employers enhances demand and retention.
- High-cost ownership market reinforces multifamily reliance and pricing power.
- 1982 vintage offers scope for targeted renovations and operational upside.
- Risks: elevated crime context and rent-to-income pressure call for active management and security investments.