| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 54th | Fair |
| Amenities | 38th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 352 Caspian Way, Imperial Beach, CA, 91932, US |
| Region / Metro | Imperial Beach |
| Year of Construction | 1985 |
| Units | 88 |
| Transaction Date | --- |
| Transaction Price | $5,433,000 |
| Buyer | OWNERSHIP NAME INFORMATION |
| Seller | --- |
352 Caspian Way Imperial Beach Multifamily Asset
This 88-unit property built in 1985 aligns with neighborhood construction norms, offering potential renovation upside in a coastal San Diego submarket. Neighborhood-level occupancy sits at 79.8%, requiring active management focus according to CRE market data from WDSuite.
The Imperial Beach neighborhood ranks competitively among 621 San Diego metro neighborhoods for housing fundamentals, with a C+ overall rating. Built primarily in the 1980s like the surrounding area, the local housing stock presents consistent renovation opportunities for value-add investors. Neighborhood-level median contract rents of $2,138 place this area in the 93rd percentile nationally, reflecting strong pricing power despite occupancy challenges.
Demographics within a 3-mile radius show a stable renter base, with 60.8% of households renting versus owning. The area maintains above-average household incomes at $74,639 median, supporting rent collection stability. Projected household growth of 40.6% through 2028 suggests expanding tenant demand, while forecast median rents are expected to reach $2,575, indicating continued pricing strength for well-positioned assets.
Home values averaging $959,515 create a significant ownership barrier, keeping many households in the rental market longer. The neighborhood offers solid grocery access with 1.2 stores per square mile and exceptional park density in the 96th percentile nationally, supporting tenant retention through quality-of-life amenities.
Crime metrics show mixed signals for this Imperial Beach neighborhood, ranking 158th out of 621 San Diego metro neighborhoods, placing it slightly below the metro median for overall safety. Property crime rates have declined 21.8% year-over-year, a positive trend that ranks in the 65th percentile nationally for improvement.
Violent crime rates remain elevated compared to regional averages, though they've also decreased 26.4% annually, ranking in the 73rd percentile for year-over-year improvement. Investors should factor security considerations into operating budgets and tenant screening processes while monitoring continued crime reduction trends in the area.
The Imperial Beach area benefits from proximity to major San Diego employers, with energy and technology companies providing stable employment bases that support rental demand.
- Sempra Energy — energy services (9.5 miles)
- Sempra Energy — energy services (10.2 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (17.1 miles)
- Qualcomm — technology (22.6 miles) — HQ
This Imperial Beach property offers value-add potential through its 1985 construction vintage, aligning with neighborhood building stock for targeted renovations and rent optimization. Strong regional rent growth and high home values create rental demand stability, while proximity to major San Diego employers supports tenant retention. However, below-average neighborhood occupancy rates at 79.8% require active management and competitive positioning strategies.
Demographic projections within a 3-mile radius indicate substantial household growth through 2028, expanding the potential tenant base significantly. According to multifamily property research from WDSuite, forecast median rents of $2,575 suggest continued pricing power for well-managed assets in this coastal submarket.
- Value-add opportunity through 1985 vintage aligned with neighborhood renovation cycle
- High home values ($959k median) support rental demand retention
- Projected 40.6% household growth through 2028 expands tenant pool
- Risk: Below-average occupancy at 79.8% requires intensive management focus