| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 66th | Good |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4490 Menlo Ave, San Diego, CA, 92115, US |
| Region / Metro | San Diego |
| Year of Construction | 2000 |
| Units | 28 |
| Transaction Date | 2020-09-03 |
| Transaction Price | $1,599,000 |
| Buyer | 4490 MENLO AVENUE LLC |
| Seller | WALTON ROBERT C |
4490 Menlo Ave San Diego Multifamily Investment
Renter demand is supported by above-median neighborhood occupancy for the metro, according to WDSuite’s CRE market data. The Urban Core location offers daily convenience that can help sustain leasing stability.
Positioned in San Diego’s Urban Core, the property sits in a neighborhood that ranks in the top quartile among 621 metro neighborhoods, indicating competitive fundamentals for multifamily. Grocery, pharmacy, and café access compare favorably at the neighborhood level, while limited park and childcare options may shape amenity strategies and resident mix.
Neighborhood occupancy trends above the metro median provide a constructive backdrop for renewals and pricing. Renter concentration is high (share of housing units that are renter-occupied), pointing to depth in the tenant base and stable demand for smaller-format units.
Within a 3-mile radius, households have increased recently and are projected to expand further by 2028 even as average household size declines, implying a larger tenant base over time and support for occupancy stability. Incomes have risen meaningfully, which can bolster collections and reduce turnover risk.
Home values are elevated versus national norms, characteristic of a high-cost ownership market in San Diego. This context tends to reinforce reliance on multifamily rentals, supporting lease retention and measured pricing power for well-managed assets.
Built in 2000, the asset is newer than the neighborhood’s 1970s-era average, offering competitive positioning versus older stock while still warranting mid-life system updates or targeted renovations as part of capital planning.
Safety indicators trend weaker than metro and national averages, with the area ranking near the bottom among 621 metro neighborhoods and national percentiles placing it in a lower safety tier. Recent data show year-over-year increases in both violent and property offenses at the neighborhood level, suggesting underwriting should reflect enhanced security measures and operating practices.
Investors often mitigate these risks through lighting, access control, and professional security partnerships, calibrating rents and expenses to local conditions similar to other dense urban sub-districts.
Nearby corporate anchors in energy infrastructure, defense/aerospace, biotechnology, and wireless technology support a diverse employment base and commute convenience that can underpin renter demand.
- Sempra Energy — energy infrastructure (4.8 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (5.0 miles)
- Celgene Corporation — biotechnology (11.1 miles)
- Qualcomm — wireless technology (11.2 miles) — HQ
- Sysco — food distribution (12.5 miles)
4490 Menlo Ave is a 28-unit asset with compact average floor plans suited to Urban Core renters. Based on CRE market data from WDSuite, neighborhood occupancy runs above the metro median and renter concentration is high, while elevated ownership costs in the area reinforce steady reliance on multifamily housing.
The 2000 vintage is newer than the area’s 1970s-era average, offering relative competitiveness versus older stock and potential to unlock returns through selective modernization and system refreshes. Underwriting should weigh local safety and school-rating headwinds against strong daily amenities and a growing 3-mile household base that supports long-term demand.
- Above-median neighborhood occupancy and high renter concentration support leasing stability and renewals.
- 2000 vintage provides competitive positioning versus older stock with targeted value-add potential.
- High-cost ownership market in San Diego sustains renter reliance and measured pricing power.
- Risks include weaker neighborhood safety metrics and below-average school ratings; plan for security and resident experience investments.