| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 55th | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2660 Alpine Blvd, Alpine, CA, 91901, US |
| Region / Metro | Alpine |
| Year of Construction | 1987 |
| Units | 108 |
| Transaction Date | 2020-11-17 |
| Transaction Price | $25,830,000 |
| Buyer | VA7 RENEW SUMMIT LLC |
| Seller | SUMMIT AT ALPINE APARTMENT HOMES LP |
2660 Alpine Blvd, Alpine CA Stabilized Suburban Multifamily
Neighborhood occupancy trends in the mid-90s and sits in the top quartile nationally, supporting income stability according to WDSuite’s CRE market data. Elevated ownership costs in this San Diego metro suburb help sustain renter demand while keeping affordability pressures manageable.
Alpine is an inner-suburban pocket of the San Diego-Chula Vista-Carlsbad metro with an A- neighborhood rating and a competitive standing among 621 metro neighborhoods (top quartile). Restaurants and daily conveniences track above national medians (restaurants around the 80th percentile; pharmacies and parks in the 70s), while grocery access is closer to the national middle, creating a balanced amenity mix for residents.
Multifamily fundamentals are constructive. Neighborhood occupancy is in the top quartile nationally, and the share of housing units that are renter-occupied is in the mid-40% range, indicating a meaningful tenant base alongside strong single-family ownership. Median contract rents have risen over the past five years, yet rent-to-income levels suggest manageable affordability pressure that can support retention and steady leasing.
For unit positioning, the property’s 1987 vintage is slightly newer than the neighborhood’s early-1980s average. That relative youth can provide a competitive edge versus older stock, though selective modernization of interiors and building systems may still be prudent to sustain rent premiums and reduce near-term capital surprises.
Within a 3-mile radius, demographics show modest population growth over the last five years with a balanced age mix and rising household incomes. Forecasts point to incremental population gains and a steady renter pool, supporting occupancy stability and depth of demand. School ratings average around 3 out of 5 (slightly above national norms), fitting a suburban profile that often appeals to longer-term renters seeking stability.
Home values reflect a high-cost ownership market (around the 90th+ national percentile for value-to-income), which tends to reinforce reliance on multifamily housing. In this context, steady rent growth and above-median incomes provide room for disciplined pricing while keeping a close eye on lease management and renewal strategies.
Safety indicators for the neighborhood track below national percentiles, and the area ranks in the lower quartile among 621 San Diego metro neighborhoods. Recent year-over-year estimates indicate both property and violent offense rates have moved higher, so investors should underwrite with conservative assumptions for security measures and lighting, and monitor multi-year trends rather than single-year swings.
These figures reflect neighborhood-level conditions, not the property itself. Many owners in similar settings prioritize visible on-site management, access control, and resident engagement to support retention and protect operations.
Proximity to major employers across distribution, defense, utilities, semiconductors, and biotech underpins commuter demand and supports retention for workforce-oriented renters. Key employers within commuting reach include Sysco, L-3 Telemetry & RF Products, Sempra Energy, Qualcomm, and Celgene.
- Sysco — foodservice distribution (18.6 miles)
- L-3 Telemetry & RF Products — defense & aerospace (22.1 miles)
- Sempra Energy — utilities (25.1 miles) — HQ
- Qualcomm — semiconductors & telecom (25.9 miles) — HQ
- Celgene Corporation — biotechnology (26.8 miles)
This 108-unit, 1987-vintage asset in Alpine benefits from neighborhood occupancy that ranks in the top quartile nationally and a renter base supported by a high-cost ownership landscape. Based on CRE market data from WDSuite, rents have trended upward alongside above-median household incomes, while rent-to-income levels indicate manageable affordability pressure—an advantageous setup for retention-focused operations.
Relative to the metro, the neighborhood is competitive on overall livability and amenities, and the property’s slightly newer vintage than the local average offers room for strategic upgrades that can sustain pricing power versus older stock. Modest population growth within a 3-mile radius and commuting access to diversified employment nodes reinforce demand durability, though safety metrics warrant ongoing operational attention and prudent underwriting.
- Top-quartile neighborhood occupancy supports cash flow durability and leasing stability.
- High-cost ownership market reinforces renter demand and pricing power potential.
- 1987 vintage offers value-add and systems modernization opportunities versus older local stock.
- Risk: Safety metrics trail metro and national averages—underwrite for security and active management.