| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 21st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5641 Imperial Ave, San Diego, CA, 92114, US |
| Region / Metro | San Diego |
| Year of Construction | 2006 |
| Units | 50 |
| Transaction Date | 2025-06-25 |
| Transaction Price | $5,750,000 |
| Buyer | JEAN MCKINNEY HOUSING LP |
| Seller | ST STEPHENS HOUSING PARTNERS LP |
5641 Imperial Ave San Diego Multifamily Investment
Positioned in a renter-supported pocket where neighborhood occupancy trends sit above the metro median, this 50-unit asset offers stable demand drivers, according to WDSuite’s CRE market data.
The property sits within San Diego’s Urban Core, drawing from everyday conveniences that matter to renters. Grocery access is comparatively strong for the area and above the national median, while restaurants are present at levels modestly above national norms. Park, pharmacy, childcare, and cafe densities are limited locally, which suggests residents rely on nearby districts for some amenities.
Vintage matters for competitive positioning: built in 2006, the asset is newer than the neighborhood’s typical 1960s building stock. That generally reduces near-term capital burdens versus older comparables and can support leasing, though selective system upgrades or modernization may still be warranted to match current renter expectations.
Tenure patterns indicate meaningful multifamily depth. At the neighborhood level, the share of housing units that are renter-occupied is just under half, and within a 3-mile radius it is roughly half as well—supportive of a broad tenant base and day-to-day leasing liquidity rather than a niche renter pool.
Within a 3-mile radius, recent history shows a slight decline in population alongside growth in households and families, pointing to smaller household sizes and a wider leasing funnel. Projections continue that mix—more households and smaller average household sizes—supporting occupancy stability and ongoing demand for rental units. Household incomes have been rising, which can help sustain rent levels and reduce turnover risk.
Ownership costs in the surrounding neighborhood are elevated relative to incomes on a national basis. This high-cost ownership environment tends to sustain reliance on multifamily housing and can support pricing power and retention for well-managed properties, even as operators should monitor rent-to-income dynamics to balance renewal health with revenue goals.
Safety indicators should be contextualized at the neighborhood scale. Crime ranks below the metro median among 621 San Diego–area neighborhoods, and national comparisons place the area in lower safety percentiles, indicating elevated incidents relative to many U.S. neighborhoods. That said, property crime has shown a meaningful year-over-year decline, a constructive trend to monitor alongside ongoing local initiatives.
Investors should assess security operations, lighting, access controls, and partnership with local community resources to support resident experience and retention while underwriting conservatively for area trends.
Nearby employers include energy, aerospace, biotech, and telecom anchors that underpin a diverse employment base and commuter demand for rentals: Sempra Energy, L-3 Telemetry & RF Products, Celgene, and Qualcomm. Proximity supports day-to-day leasing, renewals, and workforce housing fundamentals.
- Sempra Energy — energy utilities (4.86 miles)
- Sempra Energy — energy utilities (5.25 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (8.65 miles)
- Celgene Corporation — biotech (14.60 miles)
- Qualcomm — telecommunications (14.82 miles) — HQ
This 50-unit, 2006-vintage property benefits from neighborhood occupancy that trends above the metro median and a renter base that is broad both locally and within a 3-mile radius. According to CRE market data from WDSuite, grocery and dining access outperforms national medians, while elevated ownership costs in the neighborhood reinforce reliance on multifamily housing—supporting lease-up and renewal dynamics for well-managed assets.
The vintage offers competitive positioning versus older local stock, with potential to capture value through targeted modernization rather than full-scale rehabilitation. Demographically, a shift toward more households and smaller household sizes expands the tenant funnel despite modest population drift, which can underpin occupancy stability and steady pricing, provided operators calibrate rents to maintain healthy rent-to-income relationships.
- 2006 construction competes well against older neighborhood stock; plan selective upgrades for continued appeal
- Neighborhood occupancy trends above metro median support stability in leasing and renewals
- Elevated ownership costs sustain renter reliance and can support pricing power
- Household growth and smaller household sizes within 3 miles widen the renter pool
- Risks: safety metrics trail national norms and certain amenities (parks, pharmacies, cafes) are limited locally—underwrite security and marketing accordingly