| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 30th | Poor |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1031 Imperial Beach Blvd, Imperial Beach, CA, 91932, US |
| Region / Metro | Imperial Beach |
| Year of Construction | 1973 |
| Units | 64 |
| Transaction Date | 2023-05-30 |
| Transaction Price | $19,000,000 |
| Buyer | F & F CASA BLANCA APARTMENTS LP |
| Seller | HAYNES TRUST |
1031 Imperial Beach Blvd Imperial Beach Multifamily Investment
Neighborhood fundamentals point to steady renter demand and competitive occupancy for this submarket, according to WDSuite’s CRE market data. Metrics cited reflect neighborhood conditions—not the property—and indicate investor-friendly stability supported by a deep renter base.
This Imperial Beach address sits within an Urban Core neighborhood where multifamily demand is underpinned by a high share of renter-occupied housing units. With renter concentration near the top quartile nationally, the local tenant base is broad, aiding lease-up and renewal visibility for professionally managed assets.
Occupancy in the neighborhood trends strong and is competitive among San Diego-Chula Vista-Carlsbad neighborhoods (measured against 621 neighborhoods), supporting expectations for stable cash flow in typical cycles. Median contract rents in the neighborhood track above national norms, signaling pricing power potential while still requiring attention to rent-to-income management to sustain retention.
The property’s 1973 vintage is older than the neighborhood’s average construction year. That age profile implies near- to medium-term capital planning for systems, common areas, and energy efficiency, but it also presents value-add potential where renovations can enhance relative competitiveness versus newer stock.
Within a 3-mile radius, population has edged down over the last five years while the number of households has increased, indicating smaller household sizes and a possible shift toward rental housing. Looking ahead, projections continue to show growth in households alongside further right-sizing of household size, which can expand the renter pool and help support occupancy stability. Elevated home values in the neighborhood—well above national medians—reinforce renter reliance on multifamily housing, which can aid tenant retention and pricing discipline for well-operated assets.
Local amenities are mixed: restaurants are relatively available compared with national norms, while everyday services such as groceries, parks, and pharmacies are less dense in the immediate neighborhood. Average school ratings trend below national benchmarks; investors should account for this in positioning and target renter profiles.
Safety indicators for the neighborhood are mixed relative to regional and national benchmarks. Compared with other neighborhoods in the San Diego-Chula Vista-Carlsbad metro (621 total), the area sits around the metro middle on overall crime exposure. Nationally, the neighborhood scores in lower percentiles for both violent and property offenses, indicating higher-than-average incident rates when compared with neighborhoods nationwide.
Recent trend data shows improvement, with violent offense estimates declining year over year at a pace that outperforms many U.S. neighborhoods. Investors should underwrite with conservative assumptions, incorporate security and lighting upgrades into capex scopes where appropriate, and align leasing strategies with local demand drivers.
Proximity to regional employers in energy infrastructure, defense & aerospace, biotech, and telecommunications supports renter demand from a diversified workforce with manageable commute times.
- Sempra Energy — energy infrastructure (10.3 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (17.0 miles)
- Celgene Corporation — biotech (22.1 miles)
- Qualcomm — telecommunications (22.7 miles) — HQ
- Sysco — food distribution (25.1 miles)
This 64-unit, 1973-vintage asset in Imperial Beach benefits from neighborhood fundamentals that favor long-term renter demand: high renter-occupied share, competitive neighborhood occupancy versus the metro, and home values that keep ownership costs elevated, supporting multifamily reliance. Based on CRE market data from WDSuite, neighborhood occupancy trends and rent levels suggest durable demand for well-managed properties, while the age profile points to actionable value-add opportunities.
Demographics within a 3-mile radius indicate a growing household base and smaller household sizes, which can expand the renter pool and support lease-up and renewal stability. Amenity density is uneven and school ratings lag national norms, so asset positioning and targeted upgrades will matter for capturing and retaining demand.
- Competitive neighborhood occupancy supports income stability across cycles
- High renter concentration and elevated ownership costs deepen the tenant base
- 1973 vintage offers clear value-add and capex-driven upside to improve competitiveness
- Household growth and smaller household sizes within 3 miles support renter pool expansion
- Risks: lower school ratings, uneven amenity density, and safety headwinds warrant conservative underwriting