| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 55th | Fair |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4290 Mount Abernathy Ave, San Diego, CA, 92117, US |
| Region / Metro | San Diego |
| Year of Construction | 1990 |
| Units | 26 |
| Transaction Date | 2018-07-18 |
| Transaction Price | $6,900,000 |
| Buyer | 4290 M ABERNATHY LLC |
| Seller | JM 4290 MT ABERNATHY LP |
4290 Mount Abernathy Ave San Diego Multifamily Investment
Neighborhood metrics point to steady renter demand, with renter-occupied share above metro medians and occupancy in the mid-90s for the surrounding area, according to WDSuite’s CRE market data. Elevated ownership costs nearby support leasing resilience and retention for well-managed units.
Rated A and situated in an Urban Core setting, the surrounding neighborhood ranks 90 out of 621 within the San Diego–Chula Vista–Carlsbad metro, placing it in the top quartile among metro neighborhoods. For investors, this signals durable fundamentals driven by amenity access, employment connectivity, and consistent renter demand at the neighborhood level.
Amenity density is a local strength: cafes, restaurants, groceries, childcare, and pharmacies all benchmark above national norms, supporting day‑to‑day convenience and reinforcing the area’s appeal to renters. However, park access is limited within the neighborhood, so on‑site open space or proximity to private recreation can be a differentiator for leasing.
Neighborhood rent levels track in the upper tier nationally and the occupancy rate for the neighborhood has held in the mid‑90s, indicating stable absorption and lease retention. The share of housing units that are renter‑occupied is above metro medians, which deepens the tenant base and supports ongoing multifamily demand.
Within a 3‑mile radius, household counts have grown even as population has edged down, indicating smaller average household sizes and a shifting age mix—dynamics that can expand the renter pool and support occupancy stability. Elevated home values in the area point to a high‑cost ownership market, which tends to sustain multifamily demand and pricing power for competitive product.
The property’s 1990 vintage is slightly older than the neighborhood’s average construction year. Investors should underwrite for targeted capital improvements or light modernization to enhance competitiveness against newer stock while capturing value‑add upside.
Relative to national benchmarks, neighborhood safety metrics trend weaker, and the area ranks below average within the metro (538 out of 621 neighborhoods). That said, recent data shows property offenses easing year over year, while violent‑offense indicators have trended higher. Investors should consider proactive security measures and resident engagement, and compare trends to peer submarkets for context.
Proximity to diversified employers supports a broad renter base and commute convenience, with concentrations in defense & aerospace, biotech, semiconductors, utilities, and food distribution.
- L-3 Telemetry & RF Products — defense & aerospace (2.36 miles)
- Celgene Corporation — biotech/pharma (4.79 miles)
- Qualcomm — semiconductors (5.27 miles) — HQ
- Sempra Energy — utilities (7.16 miles) — HQ
- Sysco — food distribution (10.65 miles)
4290 Mount Abernathy Ave offers exposure to a top‑quartile San Diego metro neighborhood with strong amenity access, resilient neighborhood occupancy, and a renter‑oriented housing mix that supports demand depth. Elevated home values in the area reinforce reliance on multifamily, while neighborhood‑level NOI per unit benchmarks are competitive for the metro, according to commercial real estate analysis from WDSuite.
Built in 1990, the asset may benefit from targeted upgrades to sharpen positioning versus newer competition. Within a 3‑mile radius, household growth alongside smaller household sizes points to a larger tenant base over time, supporting occupancy stability and retention strategies, even as population trends soften.
- Top‑quartile neighborhood within the San Diego metro with strong amenity access and commuter connectivity.
- Renter‑occupied share above metro medians supports a deeper tenant pool and steady leasing.
- Elevated regional home values sustain multifamily demand and pricing power for competitive product.
- 1990 vintage presents value‑add potential via targeted renovations and operational enhancements.
- Risks: safety metrics trail national benchmarks and park access is limited; underwrite for security, resident experience, and on‑site amenity differentiation.