| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 61st | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5510 Mildred St, San Diego, CA, 92110, US |
| Region / Metro | San Diego |
| Year of Construction | 1990 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5510 Mildred St San Diego Multifamily Investment
This 30-unit property built in 1990 sits in a neighborhood ranking in the top quartile nationally for net operating income per unit, with strong renter demand supported by a 94.7% occupancy rate and robust amenity access according to CRE market data from WDSuite.
Located in San Diego's urban core, this neighborhood demonstrates strong fundamentals for multifamily investment with an A- rating and ranks 96th among 621 metro neighborhoods. The area maintains a 94.7% occupancy rate with 54.8% of housing units renter-occupied, ranking in the 91st percentile nationally for rental share. Net operating income per unit averages $13,933, placing the neighborhood in the 92nd percentile nationally.
Demographics within a 3-mile radius show a stable tenant base with 115,353 residents and median household income of $100,631. The area attracts educated renters, with 32.2% of adults holding bachelor's degrees ranking in the 88th percentile nationally. Household income growth of 36% over five years outpaces many metros, while forecasts project continued household formation with median income rising to $142,352 by 2028, supporting sustained rental demand.
The property's 1990 construction year aligns with the neighborhood average of 1978, suggesting consistent building stock that may present value-add renovation opportunities. Amenity density supports tenant retention with 3.69 cafes per square mile (98th percentile nationally), 3.69 grocery stores per square mile (92nd percentile), and extensive restaurant options at 14.76 per square mile (94th percentile). Contract rents average $2,304 with moderate 35% growth over five years, indicating pricing power without overheating concerns.
Home values averaging $554,983 with 36.7% appreciation over five years create elevated ownership costs that sustain rental demand. The rent-to-income ratio of 0.32 suggests manageable affordability for the existing tenant base, though this ranks in the 5th percentile nationally, requiring careful lease management and retention strategies.
Safety metrics present mixed signals that warrant investor consideration. The neighborhood ranks 479th among 621 metro neighborhoods for overall crime, placing it in the 23rd percentile nationally. Property offense rates of 9,535 per 100,000 residents rank in the bottom percentile nationally, though these rates declined 1.2% year-over-year, indicating some improvement in property crime trends.
Violent crime rates of 1,064 per 100,000 residents rank in the 4th percentile nationally, though recent trends show a 1.9% increase. Investors should factor security considerations into property management strategies and tenant screening processes, while monitoring ongoing crime reduction initiatives in the broader San Diego metro area.
The property benefits from proximity to major corporate employers, providing workforce housing opportunities for professionals in energy, technology, and financial services sectors.
- Sempra Energy — energy utilities (3.8 miles) — HQ
- Wells Fargo ATM — financial services (4.0 miles)
- L-3 Telemetry & RF Products — defense & aerospace (5.1 miles)
- Celgene Corporation — biotechnology (8.1 miles)
- Qualcomm — technology (8.9 miles) — HQ
This 30-unit property offers compelling fundamentals in a neighborhood that ranks in the top quartile nationally for multifamily net operating income per unit. The 1990 construction vintage presents value-add renovation opportunities while maintaining structural integrity. Strong demographics within a 3-mile radius, including 36% household income growth over five years and projected median income reaching $142,352 by 2028, support sustained rental demand and pricing power.
According to multifamily property research from WDSuite, the neighborhood's 94.7% occupancy rate and 91st percentile national ranking for rental share indicate stable tenant demand. Proximity to major employers including Sempra Energy and Qualcomm headquarters provides workforce housing appeal, while elevated home values averaging $554,983 reinforce renter reliance on multifamily housing options.
- Top quartile nationally for neighborhood-level net operating income per unit at $13,933
- Strong occupancy fundamentals with 94.7% neighborhood rate and high rental share
- Value-add potential from 1990 construction in urban core location
- Proximity to major corporate headquarters supports tenant demand
- Risk consideration: Crime metrics rank below metro median requiring security planning