| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Fair |
| Demographics | 24th | Poor |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1348 Iris Ave, Imperial Beach, CA, 91932, US |
| Region / Metro | Imperial Beach |
| Year of Construction | 2000 |
| Units | 26 |
| Transaction Date | 2004-12-31 |
| Transaction Price | $329,000 |
| Buyer | FAUCHER TODD HENRY |
| Seller | FAUCHER LOUIS H |
1348 Iris Ave, Imperial Beach Multifamily Investment
Neighborhood renter concentration and elevated ownership costs support durable tenant demand, according to WDSuite's CRE market data, with occupancy holding steady and trending modestly higher over the past five years.
Imperial Beach's Urban Core setting offers everyday convenience that supports leasing: grocery access ranks above most metro peers (93rd percentile nationally), and restaurants are plentiful, while parks, pharmacies, and cafes are limited within the immediate neighborhood. Amenity access is above the metro median (ranked 252 of 621 San Diego–Chula Vista–Carlsbad neighborhoods), indicating reasonable proximity to services without being a top lifestyle node.
Multifamily demand fundamentals are anchored by a high share of renter-occupied housing units at the neighborhood level (72.8% renter-occupied), a meaningful signal of depth in the tenant base for a 26-unit asset. Neighborhood occupancy is 92.4% and has edged higher over the past five years, suggesting stable absorption patterns relative to broader metro conditions.
Within a 3-mile radius, households have grown while the population has modestly contracted, pointing to smaller average household sizes and a broader leasing pool. Projections indicate further increases in household counts by 2028, which typically supports renter pool expansion and occupancy stability for multifamily properties. Median contract rents have risen over the past five years and are projected to continue increasing, a factor investors can incorporate into revenue planning and lease management.
Home values in the neighborhood are elevated relative to national norms (90th percentile), which reinforces sustained reliance on rental options and can aid lease retention and pricing power. Rent-to-income ratios are higher than many areas, so asset plans should balance growth aspirations with renewal management and affordability considerations.
Safety indicators for the neighborhood sit below national averages, with violent and property offense rates positioned in lower national percentiles. This suggests investors should underwrite with prudent security and operating assumptions rather than expecting top-tier safety performance.
At the regional level, recent trends show a year-over-year uptick in violent incidents alongside a slight increase in property offenses. Compared with other San Diego–Chula Vista–Carlsbad neighborhoods (621 total), the area tracks closer to the less safe end of the spectrum, underscoring the value of preventative measures, strong management practices, and resident communication to support retention.
Proximity to major employers across energy, technology, biotech, and distribution supports a broad commuter tenant base and can aid leasing stability for workforce housing. Featured nearby employers include Sempra Energy, L-3 Telemetry & RF Products, Celgene, Qualcomm, and Sysco.
- Sempra Energy — energy infrastructure (10.9 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (17.5 miles)
- Celgene Corporation — biotech (22.6 miles)
- Qualcomm — wireless & semiconductors (23.2 miles) — HQ
- Sysco — food distribution (25.5 miles)
Built in 2000, the property is newer than the neighborhood’s average vintage, offering relative competitiveness versus older stock while still warranting targeted modernization planning for systems and common areas. Based on CRE market data from WDSuite, a high share of renter-occupied units locally, steady neighborhood occupancy around the low-90s, and rising rents point to durable demand drivers for a 26-unit community.
Elevated home values in the neighborhood reinforce reliance on rental housing, which can support pricing power and lease retention. Within a 3-mile radius, household counts have increased historically and are projected to climb further even as population trends flatten, indicating smaller household sizes and a larger renter pool that can support occupancy stability over time.
- Newer 2000 vintage versus local stock, with potential value-add via targeted upgrades
- High neighborhood renter-occupied share and stable occupancy support leasing durability
- Elevated ownership costs bolster rental demand and can aid pricing power
- 3-mile area shows household growth and projected gains, expanding the tenant base
- Risk: below-average safety profile and higher rent-to-income levels require prudent lease and operating management