| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 30th | Poor |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1035 Georgia St, Imperial Beach, CA, 91932, US |
| Region / Metro | Imperial Beach |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | 2002-11-16 |
| Transaction Price | $2,100,000 |
| Buyer | NOBEL JOHN I |
| Seller | CAL STATE INVESTMENT LP |
1035 Georgia St Imperial Beach Multifamily Investment
Neighborhood occupancy near the property is elevated, supporting more durable leasing and retention, according to WDSuite’s CRE market data. Strong renter concentration in the area underpins demand depth for a 24-unit asset.
Imperial Beach sits within the San Diego-Chula Vista-Carlsbad metro and shows several investor-friendly signals for multifamily. Neighborhood occupancy trends are in the top quartile nationally, and rents have risen over the past five years, according to WDSuite’s CRE market data. The area has a high renter concentration (share of housing units that are renter-occupied), which supports a broader tenant base and can aid leasing velocity and renewal stability.
Ownership costs are elevated relative to incomes (high value-to-income ratios), which in high-cost ownership markets tends to reinforce renter reliance on multifamily housing and support pricing power. At the same time, rent-to-income ratios point to some affordability pressure, suggesting operators should emphasize lease management and renewal strategies to mitigate turnover risk.
Local amenities are mixed: restaurant density is competitive nationally, while cafes, groceries, parks, and pharmacies are comparatively sparse within the immediate neighborhood. Childcare access scores well relative to peers, but average school ratings trend lower than many U.S. neighborhoods; investors should underwrite with these dynamics in mind when targeting household segments and marketing.
Demographic statistics aggregated within a 3-mile radius indicate a modest population decline in recent years alongside a small increase in household count and smaller average household size. This pattern can expand the pool of households seeking rental options, supporting occupancy stability even as demographics shift. The property’s 1977 vintage is slightly older than the neighborhood average construction year, pointing to potential value-add or capital expenditure planning to enhance competitiveness versus newer stock.
Relative to the San Diego metro, this neighborhood’s crime rank sits in the lower half (rank 299 among 621 neighborhoods), indicating higher crime levels than many peer areas. Nationally, safety compares below average based on low percentiles for both property and violent offenses; however, recent trends show improvement, with violent incidents declining year over year. Investors should account for this context in underwriting, resident screening, and security measures, while noting that metro-wide dynamics and ongoing trend improvements can influence on-the-ground outcomes over time.
Proximity to large employers supports renter demand through commute convenience and diversified job bases. Notable nearby employers include Sempra Energy, L-3 Telemetry & RF Products, Celgene, Qualcomm, and Sysco.
- Sempra Energy — energy infrastructure (9.6 miles)
- L-3 Telemetry & RF Products — defense & aerospace (17.0 miles)
- Celgene Corporation — biopharmaceuticals (22.1 miles)
- Qualcomm — telecommunications & semiconductors (22.7 miles) — HQ
- Sysco — foodservice distribution (24.9 miles)
This 24-unit property in Imperial Beach benefits from a high renter-occupied share in the surrounding neighborhood and elevated occupancy levels that have trended positively, supporting leasing stability. In a high-cost ownership market, strong home values relative to incomes tend to sustain multifamily demand and bolster pricing power; operators should balance this with measured rent strategies given area rent-to-income signals. According to commercial real estate analysis from WDSuite, amenity access is mixed but restaurant density is competitive, and proximity to major employment centers helps reinforce the local renter base.
Built in 1977, the asset may warrant targeted capital improvements to compete with newer stock, opening value-add pathways in unit interiors and common areas. Demographic data within a 3-mile radius shows smaller household sizes and a rising household count despite modest population contraction, which can expand the tenant pool and support occupancy over time.
- Elevated neighborhood occupancy and high renter concentration support stable leasing
- High-cost ownership market reinforces rental demand and pricing power
- 1977 vintage offers value-add potential through selective renovations
- Access to major regional employers underpins demand and retention
- Risk: affordability pressure and below-average school ratings call for careful lease and marketing strategy