| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 55th | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2275 W Victoria Dr, Alpine, CA, 91901, US |
| Region / Metro | Alpine |
| Year of Construction | 2008 |
| Units | 61 |
| Transaction Date | 2020-07-08 |
| Transaction Price | $2,880,000 |
| Buyer | WINDMILL VILLAGE LLC |
| Seller | KRIEBEL MARILYN R |
2275 W Victoria Dr Alpine Multifamily Investment
This 61-unit property built in 2008 targets a neighborhood with above-average occupancy rates and strong rental demand fundamentals. CRE market data from WDSuite indicates the area maintains high renter-occupied housing shares supporting long-term tenant retention.
This Alpine inner suburb ranks in the top quartile nationally for housing metrics among 621 San Diego metro neighborhoods, with neighborhood-level occupancy maintaining 96.1% and showing continued stability over the five-year trend. The area demonstrates 46.2% of housing units as renter-occupied, indicating solid rental demand depth that supports multifamily fundamentals.
Demographics within a 3-mile radius show a median household income of $107,277 with 33.1% of housing units renter-occupied, creating a substantial tenant base. Population growth of 2.4% over five years supports expanding renter demand, while forecast household growth of 32.7% through 2028 indicates continued expansion in the potential tenant pool. The area's rent-to-income ratio suggests affordability considerations for lease management and retention strategies.
The property's 2008 construction year positions it as newer than the neighborhood average of 1982, potentially reducing near-term capital expenditure requirements compared to older area stock. Median contract rents in the neighborhood reached $1,877, with rental rates showing 38.9% growth over five years, reflecting the area's rental market momentum and pricing power dynamics.
Amenity access includes moderate restaurant density and childcare availability that ranks in the 89th percentile nationally, supporting tenant appeal. The neighborhood maintains above-average school ratings and reasonable access to parks and essential services, contributing to resident retention factors important for occupancy stability.
Safety metrics for this Alpine neighborhood reflect mixed conditions that warrant investor attention for tenant retention and leasing considerations. Property offense rates place the area in the bottom quartile among San Diego metro neighborhoods, with crime statistics ranking 496th out of 621 local neighborhoods.
The neighborhood's crime national percentile of 22% indicates safety performance below national averages, with both property and violent offense rates showing year-over-year increases. Investors should factor these safety dynamics into tenant screening, security measures, and retention strategies when evaluating operational considerations for this multifamily asset.
The employment base draws from major San Diego corporate offices within commuting distance, providing workforce housing opportunities for technology, energy, and telecommunications professionals.
- Sysco — food service distribution (17.9 miles)
- L-3 Telemetry & RF Products — defense technology (21.5 miles)
- Sempra Energy — utility services (24.4 miles) — HQ
- Qualcomm — technology & telecommunications (25.2 miles) — HQ
- Celgene Corporation — biotechnology (26.2 miles)
This 61-unit Alpine property capitalizes on neighborhood-level occupancy strength and rental demand fundamentals in a San Diego inner suburb market. The 2008 construction vintage positions the asset with reduced near-term capital requirements while demographic projections show household growth of 32.7% through 2028, expanding the potential tenant base. According to multifamily property research from WDSuite, the area maintains above-metro occupancy performance and rental rate momentum that supports investor objectives.
The neighborhood's high renter-occupied housing share of 46.2% demonstrates established rental demand, while proximity to major San Diego employers including Qualcomm and Sempra Energy headquarters provides workforce housing opportunities. However, investors should consider safety metrics that rank below metro averages and monitor rent-to-income dynamics for tenant retention planning.
- Neighborhood occupancy of 96.1% with stable five-year trend supports cash flow predictability
- 2008 construction reduces immediate capital expenditure needs compared to area average
- Forecast household growth of 32.7% through 2028 expands tenant demand potential
- Access to major San Diego employment centers supports workforce housing demand
- Risk consideration: Below-average safety metrics require attention to security and tenant retention strategies