| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 88th | Best |
| Demographics | 85th | Best |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5350 Toscana Way, San Diego, CA, 92122, US |
| Region / Metro | San Diego |
| Year of Construction | 1993 |
| Units | 62 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5350 Toscana Way San Diego Multifamily Investment
This 62-unit property built in 1993 benefits from strong neighborhood-level occupancy at 94.2% and a renter-dominated housing market where 78.3% of units are tenant-occupied, according to WDSuite's CRE market data.
Located in an A+ rated neighborhood ranking 15th among 621 San Diego metro neighborhoods, this property sits within a highly educated renter market where 36.5% of residents hold bachelor's degrees. The neighborhood maintains strong occupancy at 94.2% with renter-occupied units comprising 78.3% of the housing stock, indicating sustained rental demand in this urban core location.
Built in 1993, the property aligns closely with the neighborhood's average construction year of 1989, positioning it within the established building stock without significant vintage disadvantages. Demographics within a 3-mile radius show a stable population base of approximately 83,600 residents, with household income averaging $130,735 and median income at $111,437, supporting rental demand at current market rates.
The area demonstrates strong amenity density with top quartile national rankings for restaurants (99th percentile) and cafes (98th percentile), contributing to tenant appeal and retention potential. However, grocery access presents a challenge with zero grocery stores per square mile, ranking last among metro neighborhoods. Median home values of $935,805 and a value-to-income ratio of 7.6 reinforce rental demand by maintaining elevated ownership costs that keep households in the rental market.
Five-year demographic projections within the 3-mile radius indicate household growth of 34.1% by 2028, with renter-occupied units expected to increase from 50.6% to 58.6%, expanding the potential tenant base. Median household income is projected to rise 18.8% to $132,387, while median contract rents are forecast to increase 28.2% to $3,057, suggesting favorable rent growth dynamics for investor returns.
Safety metrics present mixed signals requiring careful tenant management consideration. The neighborhood ranks 433rd of 621 metro neighborhoods for overall crime, placing it in the lower half of San Diego areas. Property crime rates show improvement with a 20.6% decline over the past year, indicating positive trending despite elevated baseline levels.
Violent crime presents a more significant concern, with rates increasing 156.9% year-over-year and ranking 392nd of 621 neighborhoods. This places the area in the 14th percentile nationally for violent crime safety. Investors should factor enhanced security measures and tenant screening protocols into operational planning while monitoring local crime trends that could impact tenant retention and leasing velocity.
The property benefits from proximity to major technology and biotech employers that anchor the San Diego employment base, providing workforce housing for high-income professionals within commuting distance of corporate headquarters and research facilities.
- Celgene Corporation — biotechnology (1.2 miles)
- Qualcomm — telecommunications technology (1.9 miles) — HQ
- Qualcomm — telecommunications technology (2.1 miles)
- Qualcomm — telecommunications technology (2.4 miles)
- L-3 Telemetry & RF Products — defense & aerospace (5.1 miles)
This 62-unit property offers exposure to San Diego's high-income renter market with neighborhood occupancy at 94.2% and strong demographic fundamentals supporting rental demand. The 1993 construction year aligns with area norms while positioning the asset for potential value-add renovations to capture rent premiums in a market where median rents are projected to reach $3,057 by 2028.
According to CRE market data from WDSuite, the 3-mile radius shows household growth projections of 34.1% through 2028, with renter-occupied units expanding from 50.6% to 58.6% of housing stock. High home values averaging $935,805 maintain ownership barriers that sustain rental demand, while proximity to major employers like Qualcomm headquarters within 2 miles provides workforce housing stability.
- Strong occupancy fundamentals with 94.2% neighborhood occupancy and 78.3% renter-occupied housing stock
- Projected 34.1% household growth and expanding renter base through 2028 supporting tenant demand
- High-income demographics with $130,735 average household income and elevated ownership costs reinforcing rental demand
- Proximity to major technology employers including Qualcomm headquarters within 2 miles
- Safety concerns require enhanced security planning with elevated crime rates ranking in lower half of metro neighborhoods