| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 32nd | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4201 51st St, San Diego, CA, 92115, US |
| Region / Metro | San Diego |
| Year of Construction | 1986 |
| Units | 23 |
| Transaction Date | 2019-06-06 |
| Transaction Price | $3,275,000 |
| Buyer | EXETER 2362 WY LLC |
| Seller | MJT RESIDENTIAL LLC |
4201 51st St, San Diego Multifamily Investment
Neighborhood fundamentals indicate a deep renter pool and stable occupancy, according to WDSuite’s CRE market data, supporting income durability for a 23-unit asset. These are neighborhood-level signals rather than property performance and suggest steady screening conditions for underwriting.
Rated B and positioned above the metro median among 621 San Diego–Chula Vista–Carlsbad neighborhoods, the area surrounding 4201 51st St shows balanced livability factors relevant to workforce housing demand. Neighborhood occupancy is steady relative to national norms, and the renter-occupied share is high, which typically supports a larger tenant base for small to mid-sized multifamily assets.
Amenities are a relative strength: cafes and grocery options score in the upper national percentiles, and parks access is strong as well. This concentration of daily-needs retail and food service often aids leasing velocity and resident retention. Pharmacy access is comparatively thin in this neighborhood context, which may modestly impact convenience for some residents.
Schools in the immediate neighborhood benchmark below national averages, which can be a consideration for family-oriented demand; however, the area s Urban Core profile and strong amenity mix can still appeal to renter cohorts prioritizing proximity and services. Median home values rank high nationally, reflecting a high-cost ownership market that tends to reinforce reliance on rental housing and can support pricing power when balanced with lease management.
The property s 1986 vintage is slightly newer than the neighborhood s average construction year. That positioning can be competitive versus older stock, while still inviting targeted modernization of interiors, building systems, or common areas to capture value-add upside typical for 1980s-era assets.
Within a 3-mile radius, recent data show a modest dip in population alongside an increase in household counts, indicating smaller household sizes and a shifting renter mix. Forward-looking projections point to rising household counts and higher incomes by 2028, which would expand the tenant base and support occupancy stability and rent growth if realized.
Relative to the San Diego metro, this neighborhood ranks near the bottom on crime (610 out of 621), indicating safety performs below metro averages. Nationally, it benchmarks in a low percentile, signaling elevated incident rates compared with many U.S. neighborhoods.
Recent estimates indicate higher levels of both property and violent offenses, with year-over-year increases noted. Investors often account for this by underlining security measures, partnering with professional management on tenant screening, and calibrating underwriting assumptions for marketing, turnover, and insurance.
Proximity to established employers supports commuter convenience and helps stabilize renter demand. Nearby corporate offices span energy, aerospace/defense, life sciences, and logistics, including Sempra Energy, L-3 Telemetry & RF Products, Celgene, Qualcomm, and Sysco.
- Sempra Energy energy infrastructure (5.16 miles) HQ
- L-3 Telemetry & RF Products defense & aerospace offices (5.62 miles)
- Celgene Corporation life sciences (11.73 miles)
- Qualcomm wireless & semiconductors (11.84 miles) HQ
- Sysco foodservice distribution (12.79 miles)
A 23-unit property from 1986 sits slightly newer than the neighborhood s average vintage, offering relative competitiveness versus older stock while leaving room for targeted value-add. A high neighborhood renter concentration and steady occupancy indicate a deep tenant base. Elevated home values in this part of San Diego point to a high-cost ownership market that generally sustains multifamily demand, though pricing power should be balanced against rent-to-income considerations. According to CRE market data from WDSuite, local amenities are strong, supporting leasing fundamentals despite below-average school benchmarks.
Within a 3-mile radius, household counts have risen even as population edged down, implying smaller household sizes and a renter mix that can support absorption. Forecasts point to growth in households and incomes by 2028 alongside higher asking rents, which, if realized, can support occupancy stability and rent growth. Underwriting should account for safety headwinds and operating costs typical of 1980s-era assets, with potential upside via renovations and professional management.
- Renter-heavy neighborhood and steady occupancy support demand depth
- 1986 vintage offers value-add potential versus older local stock
- Strong daily-needs amenities aid retention and leasing velocity
- High-cost ownership market reinforces reliance on rentals
- Risks: below-metro safety metrics, lower school ratings, and affordability pressure require disciplined operations