| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Fair |
| Demographics | 24th | Poor |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1471 Grove Ave, Imperial Beach, CA, 91932, US |
| Region / Metro | Imperial Beach |
| Year of Construction | 1987 |
| Units | 40 |
| Transaction Date | 2021-08-26 |
| Transaction Price | $11,613,500 |
| Buyer | MF PANDA NR OWNER CA LP |
| Seller | 519 GROVE CONDOS LLC |
1471 Grove Ave Imperial Beach Multifamily Investment
Strong renter concentration and a high-cost ownership market suggest resilient tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy has trended steady, supporting income stability for well-managed assets.
Located in Imperial Beach within the San Diego metro, the area scores around the national median for amenities overall while offering strong access to daily needs—grocery density is competitive—yet limited parks, pharmacies, and cafes nearby may require residents to travel for some conveniences. Restaurants are comparatively plentiful versus many neighborhoods nationwide, which helps with lifestyle appeal.
Housing metrics are a relative strength: the neighborhood’s housing profile sits in the top quartile nationally, and occupancy has held slightly above the national median in recent years based on CRE market data from WDSuite. The renter-occupied share of housing units is high (neighborhood metric), signaling a deep tenant base and generally stable leasing for multifamily operators.
The property’s 1987 vintage is newer than the neighborhood’s average construction year (1976), positioning it competitively versus older stock. That said, systems are approaching age where selective capital projects and interior updates can capture value-add upside and support tenant retention.
Demographic statistics are aggregated within a 3-mile radius. Recent years show modest population contraction alongside an increase in households, indicating smaller household sizes and a broader distribution of renters—factors that can sustain occupancy. Forecasts point to further household growth by 2028 and rising incomes, which can support rent levels; however, elevated rent-to-income ratios in the neighborhood imply affordability pressure, making renewal management and pricing discipline important. Elevated home values and a high value-to-income ratio at the neighborhood level suggest a high-cost ownership market, which typically reinforces reliance on multifamily rental housing and supports lease-up and retention.
Safety indicators for the neighborhood are mixed and trend weaker than many peers. The neighborhood’s crime rank (459 out of 621 metro neighborhoods) places it below the metro median for safety, and national safety percentiles are in the lower quartiles, indicating comparatively higher reported crime than typical U.S. neighborhoods. Recent data also shows a year-over-year uptick in violent incidents.
Investors should underwrite operational measures (lighting, access controls, and resident engagement) and coordinate with local resources. Comparative framing is appropriate here: while not among the safer parts of the San Diego metro, assets with strong management and security practices often maintain stable performance when paired with durable renter demand drivers.
Regional employment nodes within a commutable radius help support renter demand and retention for workforce tenants, led by energy infrastructure, defense & aerospace electronics, biopharma, and semiconductor employers.
- Sempra Energy — energy infrastructure (10.0 miles)
- Sempra Energy — energy infrastructure (10.7 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace electronics (17.3 miles)
- Celgene Corporation — biopharma (22.5 miles)
- Qualcomm — semiconductors (23.0 miles) — HQ
This 40-unit 1987-vintage asset in Imperial Beach benefits from a neighborhood with a high share of renter-occupied housing units and occupancy that has held slightly above national norms, supporting income stability. Elevated neighborhood home values and a high value-to-income ratio indicate a high-cost ownership market that tends to sustain multifamily demand, while grocery and restaurant access adds day-to-day convenience for residents.
According to CRE market data from WDSuite, household counts within a 3-mile radius have increased even as population edged lower, pointing to smaller household sizes and a broader tenant base—supportive for leasing and renewal velocity. The vintage offers potential for targeted value-add improvements to keep the property competitive against older stock. Key risks include affordability pressure (high rent-to-income ratios at the neighborhood level), safety metrics below national median, and limited nearby parks/pharmacies that may modestly affect livability expectations.
- High renter concentration and steady neighborhood occupancy support demand and leasing stability.
- 1987 vintage offers value-add potential to enhance competitiveness versus older area stock.
- High-cost ownership market (neighborhood metric) reinforces reliance on multifamily rentals.
- Household growth within 3 miles broadens the tenant base and supports renewals.
- Risks: elevated rent-to-income ratios, below-median safety metrics, and limited park/pharmacy density.