| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 63rd | Good |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9545 Genesee Ave, San Diego, CA, 92121, US |
| Region / Metro | San Diego |
| Year of Construction | 2000 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
9545 Genesee Ave San Diego Multifamily Investment
This 48-unit property built in 2000 benefits from high rental demand in a neighborhood where 73.6% of housing units are renter-occupied, ranking in the top 2% nationally for rental concentration according to CRE market data from WDSuite.
The property sits in a suburban San Diego neighborhood with strong rental fundamentals, ranking 116th among 621 metro neighborhoods with an A- overall rating. The area maintains a 91.8% occupancy rate and commands median rents of $2,215, reflecting stable demand despite some recent softening. With 73.6% of housing units occupied by renters—placing the neighborhood in the 98th percentile nationally—this location demonstrates exceptional rental market depth that supports consistent leasing activity.
Demographics within a 3-mile radius show a mature rental market with 73,402 residents and median household income of $119,683, up 37.6% over five years. The area attracts a diverse tenant base, with 41.9% of residents aged 18-34 and strong income distribution across multiple brackets. Home values averaging $634,100 with 40.7% five-year appreciation help sustain rental demand by keeping ownership costs elevated relative to renting options.
Built in 2000, this property represents newer construction compared to the neighborhood average of 1981, potentially reducing near-term capital expenditure needs while maintaining competitive positioning. The location offers solid amenity access with restaurants, pharmacies, and childcare facilities supporting tenant retention, though grocery access is more limited compared to denser urban areas.
Crime metrics show challenges that require careful consideration in underwriting and property management planning. The neighborhood ranks 579th out of 621 metro neighborhoods for overall crime, placing it in the 18th percentile nationally. Property crime rates of 12,288 per 100,000 residents rank near the bottom of the metro area, though recent trends show a 4.7% decline year-over-year.
Violent crime rates of 1,280 per 100,000 residents also rank poorly at 592nd among metro neighborhoods, with a concerning 53.2% increase over the past year. These safety considerations may impact tenant retention, insurance costs, and property management expenses, requiring enhanced security measures and careful tenant screening protocols.
The property benefits from proximity to major San Diego employers, particularly in biotechnology and telecommunications, providing workforce housing for high-income professionals in stable industries.
- Celgene Corporation — biotechnology (0.4 miles)
- Qualcomm — telecommunications technology (1.6 miles) — HQ
- Qualcomm — telecommunications technology (1.6 miles)
- Qualcomm — telecommunications technology (2.0 miles)
- L-3 Telemetry & RF Products — defense technology (6.0 miles)
This 48-unit property offers exposure to San Diego's robust rental market fundamentals, with neighborhood-level rental concentration in the top 2% nationally supporting consistent demand. The 2000 construction year provides a competitive edge over the area's 1981 average building vintage, potentially reducing capital expenditure requirements while maintaining modern appeal. Demographics within a 3-mile radius show household income growth of 37.6% over five years, creating a strengthening tenant base, though elevated home values help sustain rental demand by keeping ownership costs prohibitive for many residents.
The investment case centers on San Diego's supply-constrained multifamily market, where 91.8% neighborhood occupancy rates and $2,215 median rents reflect underlying demand stability. Proximity to major employers including Qualcomm headquarters and Celgene Corporation provides workforce housing opportunities for high-income professionals in stable technology and biotechnology sectors. However, commercial real estate analysis reveals crime metrics that rank poorly within the metro area, requiring enhanced property management protocols and potentially impacting insurance costs and tenant retention strategies.
- Exceptional rental market concentration at 73.6% of units, ranking 98th percentile nationally
- Newer 2000 construction vintage compared to 1981 neighborhood average reduces capital needs
- Strong demographic trends with 37.6% household income growth supporting tenant quality
- Proximity to major technology employers including Qualcomm headquarters provides workforce housing demand
- Risk consideration: Crime metrics rank poorly metro-wide, requiring enhanced security and management protocols