| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 64th | Good |
| Amenities | 35th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3419 Valley Rd, Bonita, CA, 91902, US |
| Region / Metro | Bonita |
| Year of Construction | 1988 |
| Units | 76 |
| Transaction Date | 1995-03-28 |
| Transaction Price | $10,600,000 |
| Buyer | APARTMENT OPPORTUNITY FUND II LP |
| Seller | RT HOLDINGS INC |
3419 Valley Rd, Bonita CA — Suburban Multifamily with Value-Add Angle
Occupancy in the surrounding neighborhood trends above the metro median, and elevated ownership costs nearby support sustained renter demand, according to WDSuite s CRE market data from its commercial real estate analysis.
Bonita sits within the San Diego Chula Vista Carlsbad metro and registers a B neighborhood rating. The area reflects suburban living with park access performing in the top quartile nationally, while retail density (cafes, groceries, pharmacies) is thinner than core urban districts. For investors, this combination points to quieter, residential appeal with fewer immediate walk-to amenities, which can influence unit mix and marketing toward residents prioritizing space and schools over nightlife.
Neighborhood occupancy ranks 291 out of 621 metro neighborhoods, placing it above the metro median. That signals steady renter demand and supports income durability relative to weaker submarkets, based on CRE market data from WDSuite. Median home values in the neighborhood score in a high national percentile, indicating a high-cost ownership market that typically reinforces reliance on multifamily housing and can aid lease retention.
The share of housing units that are renter-occupied in the neighborhood is lower than many metro peers, indicating a more owner-leaning pocket; however, demographics aggregated within a 3-mile radius show a sizeable renter pool and modest household growth in recent years with forecasts calling for additional household gains. Taken together, this suggests a broader catchment for demand beyond the immediate blocks, helping support occupancy stability over the hold.
Vintage context matters: the property s 1988 construction is newer than the neighborhood s average vintage (1977). That relative recency can be competitive against older stock, while still offering scope for targeted modernization to capture rent premiums and improve operating efficiency.
Safety indicators for the neighborhood track below the national median, according to WDSuite s CRE market data. Within the San Diego Chula Vista Carlsbad metro, the neighborhood s crime rank (349 out of 621) indicates it trails more competitive peers on this dimension. Recent trends show some improvement in violent incident rates year over year, which investors may view as a constructive directional signal, but underwriting should still assume prudent security measures and tenant communications.
- Sempra Energy energy/utilities offices (6.8 miles)
- Sempra Energy energy/utilities offices (7.4 miles) HQ
- L-3 Telemetry & RF Products defense & aerospace (11.9 miles)
- Celgene Corporation biotech/pharmaceuticals (17.8 miles)
- Qualcomm technology & wireless (18.0 miles) HQ
Nearby employment anchors span energy, defense/aerospace, biotech, and technology, supporting a diverse commuter base and helping underpin multifamily demand and retention in this suburban location.
This 76-unit asset, built in 1988, offers a balanced value-add profile in a suburban San Diego County location where neighborhood occupancy trends above the metro median and the ownership market is high-cost. The relative vintage positions the property competitively versus older stock while leaving room for upgrades to interiors and common areas to capture rent lifts and reduce long-term capex surprises.
Demographics aggregated within a 3-mile radius indicate a broad commuter base with household counts edging higher and forecasts calling for additional household growth over the next five years factors that can support a larger tenant base and occupancy stability. According to CRE market data from WDSuite, neighborhood amenities skew toward parks rather than dense retail, so leasing strategy should emphasize livability, access to employment centers, and on-site features over walkable retail.
- Above-metro-median neighborhood occupancy supports income stability
- 1988 vintage enables targeted renovations for rent upside and efficiency
- High-cost ownership context reinforces ongoing multifamily demand
- Diverse nearby employers broaden the commuter tenant pool
- Risks: thinner walkable retail and below-national-median safety require measured underwriting and property-level mitigations