| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Fair |
| Demographics | 24th | Poor |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1401 13th St, Imperial Beach, CA, 91932, US |
| Region / Metro | Imperial Beach |
| Year of Construction | 2000 |
| Units | 44 |
| Transaction Date | 2015-11-03 |
| Transaction Price | $14,500,000 |
| Buyer | THE WALZ FAMILY TRUST |
| Seller | KREUTZKAMP CHARLES F |
1401 13th St Imperial Beach 44-Unit Multifamily
Neighborhood occupancy sits in the low-90s and a high share of renter-occupied units supports steady leasing, according to WDSuite’s CRE market data. Newer 2000-vintage relative to much of the area positions the asset to compete for workforce tenants.
Imperial Beach’s immediate area functions as an Urban Core neighborhood within the San Diego–Chula Vista–Carlsbad metro, with tenant demand supported by a large renter base. The neighborhood’s renter-occupied share is elevated (top tier locally), which signals depth in the tenant pool and helps support occupancy stability through cycles. Neighborhood occupancy trends sit in the low-90s, which is slightly above national midpoints based on CRE market data from WDSuite at the neighborhood level.
Livability signals are mixed. Dining options are comparatively dense for the metro, and grocery access is strong, but parks, pharmacies, and cafes are sparse within the neighborhood footprint. Average school rating data is not available in the current dataset for this neighborhood; investors may wish to underwrite family demand using local school-by-school checks. On operating performance, neighborhood housing metrics track above national medians, indicating competitive fundamentals among peer subareas without implying outsized growth.
Vintage matters: the property’s 2000 construction is newer than the neighborhood’s older housing stock (average late-1970s). This provides relative competitiveness versus legacy assets, while still warranting capital planning for systems nearing middle age and potential value-add through common-area and in-unit modernization.
Within a 3-mile radius, households have grown even as the overall population edged lower, implying smaller household sizes and diversified living arrangements. Rising incomes and sustained rent levels point to ongoing demand for well-managed apartments, while elevated ownership costs in San Diego County suggest many households will continue to rely on multifamily rentals, supporting retention and pricing discipline where product quality aligns with local budgets.
Safety indicators should be underwritten conservatively. Compared with other neighborhoods in the San Diego–Chula Vista–Carlsbad metro (621 total), this area ranks in the lower half for crime, and it falls below national medians for safety. That places it outside the top quartile nationally. Recent year-over-year readings show higher violent-offense rates and elevated property-offense levels versus national benchmarks, which argues for prudent security, lighting, and resident-screening practices.
Investors can frame this as a management consideration rather than a thesis breaker: prioritize operational controls, monitor local trendlines, and benchmark insurance and loss assumptions against similar Urban Core subareas rather than metro-wide averages.
Proximity to major employers across energy, aerospace/defense, food distribution, and technology underpins renter demand and commute convenience for a workforce tenant base. Nearby anchors include Sempra Energy, L-3 Telemetry & RF Products, Qualcomm, and Sysco.
- Sempra Energy — energy (10.1 miles)
- Sempra Energy — energy (10.8 miles) — HQ
- L-3 Telemetry & RF Products — aerospace & defense (17.5 miles)
- Qualcomm — technology (23.1 miles) — HQ
- Sysco — food distribution (25.4 miles)
This 44-unit, 2000-vintage Imperial Beach asset pairs a deep neighborhood renter base with steady occupancy in the low-90s, supporting durable cash flow potential. Elevated ownership costs across San Diego County reinforce reliance on rentals, while nearby employment nodes broaden the tenant pool. According to CRE market data from WDSuite, neighborhood operating indicators track around or above national midpoints, suggesting competitive positioning without dependence on outsized growth assumptions.
Investor focus should be on light-to-moderate value-add to keep the asset competitive versus older local stock, disciplined lease management to navigate affordability pressure, and standard Urban Core operating controls. Household growth within a 3-mile radius despite softer population totals points to smaller households and a resilient renter pool, supporting occupancy stability over the hold.
- Newer 2000 construction versus older neighborhood stock supports competitive positioning with targeted modernization.
- Large renter-occupied base and low-90s neighborhood occupancy underpin demand stability and leasing continuity.
- High-cost ownership market in San Diego County supports renter reliance, aiding retention and pricing discipline.
- Access to regional employers across energy, tech, and defense broadens the workforce tenant pool.
- Risks: affordability pressure (rent-to-income), safety metrics below national medians, and modest population softening warrant conservative underwriting and active management.