| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 43rd | Best |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 611 Spear Ave, El Centro, CA, 92243, US |
| Region / Metro | El Centro |
| Year of Construction | 2008 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
611 Spear Ave: 120-Unit El Centro Multifamily
Neighborhood-level rents sit on the higher end for the El Centro metro and occupancy has trended upward over the past five years, according to WDSuite’s CRE market data, indicating durable renter demand at the neighborhood level rather than property-specific performance.
This suburban pocket of El Centro is rated A+ and ranks 2nd among 52 metro neighborhoods, positioning it as competitive for multifamily leasing. Neighborhood occupancy is above the metro median and has improved over the past five years, supporting stable cash flows for professionally managed assets.
Amenity access is mixed: cafes and pharmacies test well versus national benchmarks (both in the upper tiers nationally), while dedicated parks and childcare options are sparse. Restaurant and grocery availability track modestly above national midpoints, offering day-to-day convenience even if destination amenities are limited.
Homes in the area carry elevated ownership costs relative to incomes by national standards, which can reinforce reliance on multifamily housing and aid lease retention. The rent-to-income profile at the neighborhood level points to manageable affordability pressures, but prudent lease management remains important for renewal stability.
Construction in this neighborhood skews newer (average vintage 2011). With a 2008 build, the subject property is slightly older than the neighborhood average, suggesting targeted modernization and systems planning could enhance competitive positioning without requiring a full repositioning.
Demographic statistics aggregated within a 3-mile radius show households have inched higher despite flat population, implying smaller household sizes and a broader set of renting households. Forward-looking estimates point to additional household growth and a lower average household size by 2028, which can expand the renter pool and support occupancy stability for well-located properties conducting multifamily property research.
WDSuite does not publish specific neighborhood crime figures for this location. For underwriting, investors typically benchmark neighborhood trends against El Centro and Imperial County averages and review property-level incident logs over multiple years to understand directional safety and its potential impact on leasing and retention.
The investment case centers on a high-performing El Centro neighborhood (ranked 2 of 52) with occupancy trending upward and rents that are competitive for the metro, supporting leasing durability. Based on CRE market data from WDSuite, income fundamentals in the area and a high-cost ownership landscape reinforce consistent renter demand, pointing to steady absorption for well-managed assets.
Built in 2008, the property is slightly older than the neighborhood’s newer stock, creating a practical pathway for value-add through selective interior updates and capital planning on mid-life systems. Households within a 3-mile radius are projected to increase as average household size steps down, indicating a larger tenant base and supporting long-term occupancy and pricing power if the asset remains competitively maintained.
- A+ neighborhood with above-median metro occupancy and upward five-year trend supports income stability.
- High-cost ownership environment sustains multifamily demand and can aid lease retention.
- 2008 vintage offers value-add potential via targeted modernization and systems planning.
- 3-mile household growth and smaller household sizes expand the renter pool, supporting lease-up and renewals.
- Risks: limited parks/childcare amenities and below-average school ratings may temper appeal for some family renters; maintain focus on unit quality and service to drive retention.