| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 47th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 721 12th St, Imperial Beach, CA, 91932, US |
| Region / Metro | Imperial Beach |
| Year of Construction | 1984 |
| Units | 21 |
| Transaction Date | 2012-01-04 |
| Transaction Price | $2,450,000 |
| Buyer | ALLEN WILLIAM R |
| Seller | KREUTZKAMP CHARLES FREDERICK |
721 12th St, Imperial Beach Multifamily Investment
Renter demand is supported by a deep tenant base and stable neighborhood occupancy, according to WDSuite’s CRE market data. Elevated ownership costs in coastal San Diego help sustain multifamily leasing fundamentals at the neighborhood level.
The property sits in an Urban Core pocket of Imperial Beach that ranks 150 out of 621 San Diego–Chula Vista–Carlsbad metro neighborhoods, placing it in the top quartile locally for overall neighborhood quality. Grocery access and daily needs are strong (high grocery, pharmacy, and restaurant density), while parks and childcare coverage also score well at the neighborhood scale — supportive of everyday livability that underpins leasing.
For investors, the tenant base is sizable: the neighborhood’s renter-occupied share is about two-thirds, indicating depth for multifamily demand and potential leasing resilience. Neighborhood occupancy is near 90% and has edged up over the past five years, pointing to steady utilization of existing stock rather than excess vacancy risk. Neighborhood-level NOI per unit ranks in the metro’s top quartile, suggesting comparatively healthy income performance versus peers.
Within a 3-mile radius, households have grown even as total population has trended lower, implying smaller household sizes and a gradual shift that can expand the renter pool. Median home values are elevated relative to incomes locally, a high-cost ownership backdrop that tends to reinforce reliance on rentals and support pricing power where product quality and management execution are strong.
Amenities are a bright spot (restaurants, groceries, parks), though limited café density and below-average school ratings may temper family-oriented appeal. Taken together, these dynamics align with workforce-oriented demand and support a pragmatic commercial real estate analysis focused on rent positioning, retention, and unit finishes rather than heavy amenity arms races.
Neighborhood safety compares below national norms overall (national percentiles indicate weaker safety relative to U.S. neighborhoods), and the area’s crime rank sits in the lower half of the metro (251 out of 621). Recent momentum is directionally positive: violent offenses have declined year over year and that improvement ranks well versus national peers, while property offenses have also eased. For underwriting, this suggests monitoring trends and leaning on security best practices and tenant screening to support retention.
Proximity to regional employers supports renter demand through commute convenience and a diversified workforce. Notable nearby employers include Sempra Energy, L-3 Telemetry & RF Products, Celgene, Qualcomm, and Sysco.
- Sempra Energy — energy infrastructure (9.9 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace offices (16.6 miles)
- Celgene Corporation — biotech (21.7 miles)
- Qualcomm — wireless & semiconductors (22.3 miles) — HQ
- Sysco — food distribution (24.6 miles)
This Imperial Beach asset benefits from a deep renter base (roughly two-thirds renter-occupied at the neighborhood level) and steady neighborhood occupancy near 90%, supporting income stability. Elevated home values relative to incomes in coastal San Diego reinforce rental demand, while neighborhood NOI-per-unit metrics rank in the metro’s top quartile, indicating competitive income performance versus nearby submarkets. According to CRE market data from WDSuite, amenities clustering is strong (groceries, restaurants, parks), which helps sustain leasing without relying on extensive on-site lifestyle spend.
Key considerations include below-average school ratings and safety metrics that trail national norms, though recent declines in violent and property offenses are constructive. Forward-looking, a 3-mile view shows households increasing even as population moderates, pointing to smaller household sizes and a potential renter pool expansion that can support occupancy and renewal performance.
- Deep neighborhood renter concentration supports tenant base and leasing stability
- Elevated ownership costs in the area bolster multifamily demand and pricing power
- Strong amenity access (groceries, restaurants, parks) reinforces day-to-day livability
- Neighborhood NOI-per-unit performance ranks in the metro’s top quartile
- Risks: below-average school ratings and below-national safety; monitor trends and apply active management