| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 30th | Poor |
| Amenities | 16th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4352 Delta St, San Diego, CA, 92113, US |
| Region / Metro | San Diego |
| Year of Construction | 1987 |
| Units | 72 |
| Transaction Date | 1994-08-08 |
| Transaction Price | $2,663,946 |
| Buyer | STATE STREET BANK & TRUST COMPANY |
| Seller | CHICAGO TITLE COMPANY |
4352 Delta St San Diego Multifamily Opportunity
Neighborhood occupancy is strong and renter demand is deep, according to WDSuite’s CRE market data, pointing to stable operations for a professionally managed 1980s asset in San Diego’s urban core.
Located in San Diego’s Urban Core, the area around 4352 Delta St shows high renter concentration and steady occupancy. The neighborhood’s occupancy rate is 98.7% (top quartile nationally), suggesting durable lease-up and retention potential relative to many U.S. submarkets.
Renter-occupied units account for 66.7% of neighborhood housing, indicating a sizable tenant base for multifamily. Within a 3-mile radius, households have grown even as population edged lower, pointing to smaller household sizes and a broader pool of renters entering the market; that dynamic can support occupancy stability and leasing velocity for well-positioned properties.
Local amenities are mixed: grocery access is comparatively strong (competitive among San Diego-Chula Vista-Carlsbad neighborhoods), while cafes, restaurants, parks, and pharmacies are limited within the immediate neighborhood. For investors, this combination supports day-to-day convenience but may require residents to travel slightly farther for dining or recreation.
Ownership costs are elevated in the neighborhood context and across the metro, which tends to reinforce reliance on rental housing and can aid pricing power. At the same time, a rent-to-income ratio near the neighborhood level indicates some affordability pressure, warranting disciplined lease management and renewals.
Safety indicators for the neighborhood trend below national averages, with property and violent offense measures reflecting a comparatively higher-risk profile versus many U.S. neighborhoods. In the San Diego-Chula Vista-Carlsbad metro context (621 neighborhoods), this area does not rank among the safer clusters, so investors typically account for security, lighting, and insurance considerations when underwriting.
Recent readings show modest movement rather than a structural shift; investors should focus on current policies, on-site management practices, and resident screening to help sustain stable operations relative to regional norms.
The employment base nearby spans energy, defense/aerospace, biotech, and logistics, supporting workforce housing demand and commute convenience for renters at this location. Key employers within a commutable radius include Sempra Energy, L-3 Telemetry & RF Products, Celgene, Qualcomm, and Sysco.
- Sempra Energy — energy infrastructure (3.6 miles)
- L-3 Telemetry & RF Products — defense & aerospace (9.4 miles)
- Celgene Corporation — biotech (15.0 miles)
- Qualcomm — telecommunications & semiconductors (15.3 miles) — HQ
- Sysco — foodservice distribution (17.3 miles)
4352 Delta St is a 72-unit multifamily asset built in 1987, positioned in a neighborhood with strong occupancy and a high share of renter-occupied housing. Elevated ownership costs in the area tend to sustain reliance on rental housing, while recent household growth within a 3-mile radius points to a larger tenant base even as average household size trends lower. According to CRE market data from WDSuite, these conditions support steady lease-up and retention potential versus broader national patterns.
Vintage suggests room for selective value-add: 1980s construction can remain competitive with targeted upgrades and attention to aging systems, which may enhance rent positioning in an area where home values are high relative to incomes. Investors should also manage for affordability pressure and below-average safety readings by calibrating renewal strategies and operating practices.
- High neighborhood occupancy and deep renter base support leasing stability
- 3-mile household growth expands the near-term renter pool despite softer population trends
- 1987 vintage offers value-add potential through focused renovations and system updates
- Elevated ownership costs reinforce rental demand and can bolster pricing power
- Risks: affordability pressure and below-average safety metrics require disciplined leasing and operating controls