| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Fair |
| Demographics | 24th | Poor |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1340 Hemlock Ave, Imperial Beach, CA, 91932, US |
| Region / Metro | Imperial Beach |
| Year of Construction | 1987 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | $1,197,200 |
| Buyer | THE WALZ FAMILY TRUST |
| Seller | KREUTZKAMP CHARLES F |
1340 Hemlock Ave Imperial Beach Multifamily Opportunity
Neighborhood data points to a deep renter base and steady occupancy, according to WDSuite’s CRE market data, supporting durable demand for a 24‑unit asset near San Diego’s employment centers. Investors should focus on renter retention and operational execution to capture income stability in this coastal submarket.
Imperial Beach’s Urban Core setting offers practical renter appeal, with strong grocery access and dining density compared with national norms. Grocery availability ranks well above average (93rd percentile nationally) and restaurants are similarly plentiful (92nd percentile), while cafes and parks are comparatively limited—suggesting daily-needs convenience over lifestyle retail concentration. These are neighborhood-level indicators, not property amenities.
The area’s housing stock skews older than the subject property: neighborhood average construction year is 1976, while the asset was built in 1987. That vintage positioning can be competitively favorable versus older buildings, though investors should plan for aging systems and targeted modernization to meet renter expectations.
Neighborhood occupancy is stable and has edged up in recent years, and the share of renter-occupied housing units is competitive among San Diego-Chula Vista-Carlsbad neighborhoods (ranked 42 out of 621), indicating depth in the tenant base. At the same time, elevated home values (around the 90th percentile nationally) and a high value-to-income ratio (98th percentile) characterize a high-cost ownership market—conditions that tend to sustain reliance on multifamily rentals and can support pricing power when operations are well managed.
Within a 3-mile radius, demographics show modest population contraction over the past five years alongside a slight increase in household count and a smaller average household size. Looking forward, forecasts point to further reductions in household size and a substantial increase in reported households, which would expand the renter pool and support occupancy stability if realized. Median household incomes have trended higher, and projected gains—paired with forecast rent growth—suggest room for well-positioned properties to compete effectively, based on CRE market data from WDSuite.
Affordability will remain a key management consideration: the neighborhood’s rent-to-income dynamics indicate some pressure, so operators should emphasize renewal strategy and value delivery to maintain retention while calibrating rent growth to local income trends.
Safety metrics for the neighborhood sit below national medians, with crime measures tracking in the lower national percentiles. Compared with other neighborhoods in the San Diego-Chula Vista-Carlsbad metro (621 total), the area ranks in the less favorable half for safety, indicating that investors should underwrite sensible security, lighting, and property management practices.
Recent trends reflect a year-over-year uptick in violent offenses and a slight increase in property offenses at the neighborhood level. While these are broad neighborhood indicators (not property-specific), proactive onsite management and coordination with local resources can mitigate impact and support resident retention.
Proximity to regional employers supports commuting convenience for a workforce renter profile. Notable nearby firms include Sempra Energy, L-3 Telemetry & RF Products, Celgene, and Qualcomm, which together contribute to diversified demand within manageable drive times.
- Sempra Energy — utilities (10.1 miles)
- Sempra Energy — utilities (10.8 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (17.5 miles)
- Celgene Corporation — biotech/pharma (22.5 miles)
- Qualcomm — semiconductors & wireless (23.1 miles) — HQ
1340 Hemlock Ave offers a 24‑unit, 1987‑vintage asset positioned newer than the neighborhood average, giving it an edge versus older local stock while still warranting selective updates for long-term competitiveness. High renter concentration at the neighborhood level and steady occupancy trends point to a sizable tenant base, and a high-cost ownership landscape in coastal San Diego County reinforces reliance on rentals. According to CRE market data from WDSuite, neighborhood-level rents and incomes have risen over time, with forecasts indicating additional income growth—favorable conditions for disciplined pricing and retention strategies.
Investor focus should be on capturing durable cash flow through operations: emphasize renewal management in light of rent-to-income pressure, calibrate upgrades to drive unit-level competitiveness, and leverage proximity to diversified employment nodes for leasing stability. Demographic patterns within a 3-mile radius—smaller household sizes and an expanding household count in forward estimates—align with sustained demand for well-managed multifamily product.
- Renter depth and stable neighborhood occupancy support consistent leasing
- 1987 construction offers competitive positioning vs. older stock with targeted value-add potential
- High-cost ownership market underpins multifamily demand and pricing power
- 3-mile trends toward smaller households and higher incomes expand the renter pool
- Risk: Below-median neighborhood safety and rent-to-income pressure call for strong management and retention focus