| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 30th | Poor |
| Amenities | 16th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4388 Delta St, San Diego, CA, 92113, US |
| Region / Metro | San Diego |
| Year of Construction | 1990 |
| Units | 31 |
| Transaction Date | 2021-04-26 |
| Transaction Price | $6,900,000 |
| Buyer | HONEYCUTT CHRISTOPHER J A |
| Seller | NERI RONNIE T |
4388 Delta St San Diego Multifamily Investment
This 31-unit property benefits from strong neighborhood-level occupancy at 98.7% and a high rental share supporting sustained demand, according to CRE market data from WDSuite.
Built in 1988, this property aligns with the neighborhood's average construction vintage, minimizing capital expenditure disparities while positioning for potential value-add opportunities. The immediate area demonstrates strong rental fundamentals with neighborhood-level occupancy reaching 98.7%, ranking in the top quartile among 621 San Diego metro neighborhoods. Rental units comprise 66.7% of housing stock, reflecting sustained multifamily demand in this urban core location.
Demographics within a 3-mile radius support rental stability, with 190,348 residents and household income growth of 51% over five years. The area maintains 4.16 grocery stores per square mile, ranking in the top 6% nationally for grocery access, though amenity density remains limited in other categories. Median contract rents of $1,609 have grown 39% over five years, demonstrating pricing power while maintaining affordability relative to the broader San Diego market.
Forward-looking projections indicate household growth of 35% through 2028, expanding the potential tenant base to over 73,000 households. The renter-occupied share is forecast to remain stable at 60.5%, supporting continued multifamily demand. However, median household income is projected to reach $102,585 by 2028, potentially creating competitive pressure from ownership options that investors should monitor for lease retention strategies.
Property crime rates in the neighborhood are estimated at 1,039 incidents per 100,000 residents, ranking in the lower quartile among 621 San Diego metro neighborhoods with a 22nd national percentile. Violent crime rates of 390 per 100,000 residents place the area in the 12th national percentile, indicating elevated crime levels compared to most U.S. neighborhoods.
Recent trends show property crime increasing 1.4% year-over-year while violent crime rose 36.4%, though both changes remain within typical urban fluctuation ranges. Investors should factor security considerations into operational planning and tenant retention strategies, particularly given the neighborhood's urban core designation and demographic profile.
Major corporate employers within commuting distance provide workforce housing demand, led by energy and technology companies anchoring the regional economy.
- Sempra Energy — energy utilities (3.6 miles)
- Sempra Energy — energy utilities (4.2 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (9.4 miles)
- Qualcomm — technology (15.4 miles) — HQ
This 31-unit property capitalizes on strong rental fundamentals in San Diego's urban core, with neighborhood-level occupancy of 98.7% ranking in the top quartile metro-wide. The 1988 construction year aligns with area averages while providing value-add renovation potential. Demographics within a 3-mile radius show household growth projected at 35% through 2028, expanding the tenant base to over 73,000 households while maintaining a 60.5% rental share.
Commercial real estate analysis from WDSuite indicates contract rents have grown 39% over five years to $1,609 median, demonstrating pricing power in a market where rental units comprise two-thirds of housing stock. However, rising household incomes projected to reach $102,585 by 2028 may increase ownership competition, requiring proactive lease management and retention strategies.
- Neighborhood occupancy at 98.7% ranks top quartile among 621 metro neighborhoods
- Strong rental demand with 66.7% of housing units renter-occupied
- Household growth of 35% projected through 2028 expanding tenant base
- Value-add potential with 1988 vintage aligning with neighborhood average
- Risk: Rising incomes may increase ownership competition requiring retention focus