| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Fair |
| Demographics | 24th | Poor |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1238 Iris Ave, Imperial Beach, CA, 91932, US |
| Region / Metro | Imperial Beach |
| Year of Construction | 2000 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1238 Iris Ave Imperial Beach Multifamily Investment
This 20-unit property benefits from a renter-dominated market with 73% rental occupancy in the neighborhood. Neighborhood-level occupancy trends at 92.4% suggest stable tenant demand in this coastal San Diego submarket, according to WDSuite's CRE market data.
Imperial Beach offers a compelling rental market environment for multifamily investors, with 73% of housing units occupied by renters compared to the metro average. The neighborhood ranks competitively among San Diego's 621 neighborhoods for housing fundamentals, placing in the top quartile nationally for rental share. Median contract rents of $1,782 reflect strong pricing power, supported by limited rental supply in this coastal location.
Built in 2000, this property is newer than the neighborhood average construction year of 1976, positioning it competitively against older building stock and reducing near-term capital expenditure needs. Demographics within a 3-mile radius show household growth of 3.3% over five years, supporting tenant demand despite modest population decline. Projected household formation through 2028 indicates a 35% increase in total households, expanding the renter pool substantially.
The area demonstrates solid amenity density with 3.8 grocery stores and 11.3 restaurants per square mile, ranking in the top decile nationally for both categories. This amenity access supports tenant retention and lease-up velocity. Home values averaging $609,416 create affordability pressure that can keep households in the rental market longer, though investors should monitor how rising ownership costs affect local employment and tenant income stability.
Safety metrics present mixed signals that require careful consideration in underwriting. The neighborhood ranks below metro median for overall crime among San Diego's 621 neighborhoods, with property crime rates above regional averages. Violent crime trends show concerning year-over-year increases, though property crime remains relatively stable.
These conditions suggest implementing enhanced security measures and tenant screening protocols may be prudent for long-term asset protection and tenant retention. Investors should factor potential security investments and insurance considerations into their capital planning, while monitoring local crime trends that could affect occupancy stability and rental premiums.
The Imperial Beach area benefits from proximity to major San Diego employers, providing diverse employment opportunities that support renter demand and commute convenience for tenants.
- Sempra Energy — utilities (10.1 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (17.5 miles)
- Celgene Corporation — biotechnology (22.6 miles)
- Qualcomm — technology (23.1 miles) — HQ
- Sysco — food distribution (25.5 miles)
This Imperial Beach property offers exposure to a renter-heavy market with strong fundamentals supporting multifamily demand. The 73% rental occupancy share ranks in the top percentile nationally, while neighborhood-level occupancy at 92.4% indicates stable tenant retention. Built in 2000, the asset benefits from newer construction relative to the 1976 neighborhood average, positioning it competitively and reducing immediate capital needs.
Demographic projections within a 3-mile radius show household growth of 35% through 2028, expanding the tenant base significantly despite modest population decline. According to CRE market data from WDSuite, median rents of $1,782 reflect solid pricing power in this coastal location, while high home values at $609,416 create affordability barriers that can keep households in the rental market longer.
- Renter-dominated market with 73% rental occupancy, top percentile nationally
- Newer 2000 construction reduces capital expenditure needs versus neighborhood average
- Projected 35% household growth through 2028 expands tenant pool
- High home values support rental demand by limiting ownership accessibility
- Crime trends require enhanced security planning and tenant screening protocols