| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 47th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 740 Florida St, Imperial Beach, CA, 91932, US |
| Region / Metro | Imperial Beach |
| Year of Construction | 1988 |
| Units | 36 |
| Transaction Date | 2013-12-11 |
| Transaction Price | $898,000 |
| Buyer | KNUDSON CRAIG E |
| Seller | D & A DAILY MORTGAGE FUND III LP |
740 Florida St, Imperial Beach Multifamily Opportunity
Renter demand is supported by a high-cost ownership market and a deep renter-occupied base in the surrounding neighborhood, according to WDSuite’s CRE market data. Expect steady leasing fundamentals with room to enhance positioning through selective upgrades.
Imperial Beach’s A- rated neighborhood profile (ranked 150 of 621 metro neighborhoods) signals broadly competitive fundamentals for a workforce-plus renter base. Amenities are strong for daily needs, with grocery, parks, childcare, and restaurants performing in the top quartile locally, supporting convenience and lease retention. School quality trends below national averages, which may modestly influence family-oriented leasing strategies.
The neighborhood shows a high share of renter-occupied housing (renter concentration 64.6%), indicating a deep tenant pool and durable multifamily demand. Neighborhood occupancy has trended broadly stable over the past five years, supporting income consistency for well-managed assets.
Within a 3-mile radius, demographics indicate modest population softening alongside an increase in households and a decline in average household size. For investors, this points to a larger number of smaller households entering the market, which can sustain demand for well-configured units. Household incomes have risen and are projected to continue increasing, reinforcing the ability to support market rents rather than implying consumer limitations.
Home values are elevated compared with national norms, placing the area in a high-cost ownership market. This context typically supports renter reliance on multifamily housing and can bolster pricing power and retention for properties that deliver functional layouts and reliable operations. According to CRE market data from WDSuite, neighborhood-level NOI per unit trends are above national norms, further underscoring income potential in stabilized operations.
Safety metrics in the neighborhood sit below national averages (overall crime measures near the lower national percentiles), which investors should underwrite through prudent security, resident screening, and insurance assumptions. That said, recent trend data shows improvement, with estimated violent and property offense rates declining year over year, suggesting conditions have been moving in a favorable direction.
When benchmarking within the San Diego–Chula Vista–Carlsbad metro, the neighborhood performs below the top cohort on safety; investors typically emphasize on-site management presence, lighting, access controls, and community standards to support retention and operational stability.
Regional employment anchors within commuting range include energy infrastructure, defense & aerospace, biotech, and technology—supporting a diverse renter base and commute convenience for residents. Specifically, nearby employers include Sempra Energy, L-3 Telemetry & RF Products, Celgene Corporation, and Qualcomm.
- Sempra Energy — energy infrastructure (9.2 miles)
- Sempra Energy — energy infrastructure (9.9 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (16.6 miles)
- Celgene Corporation — biotechnology (21.7 miles)
- Qualcomm — semiconductors (22.2 miles) — HQ
740 Florida St offers 36 units built in 1988, slightly newer than the neighborhood’s average vintage. The asset’s era suggests competitive positioning versus older stock while leaving room for targeted modernization of interiors and building systems to drive rents and retention. The local renter base is deep, and the ownership market is high-cost by national standards, which tends to reinforce reliance on rental housing. According to CRE market data from WDSuite, neighborhood occupancy has been broadly steady while NOI per unit trends compare favorably with national norms.
Investor considerations include safety metrics that lag national benchmarks and school quality below national averages, both of which warrant active management and underwriting discipline. Counterbalancing these factors, amenity access for daily needs is strong, household incomes are rising within a 3-mile radius, and household counts are projected to grow as average household size contracts—supporting a larger tenant base for well-run multifamily assets.
- High renter concentration supports demand depth and leasing durability
- Elevated ownership costs reinforce renter reliance and pricing power
- 1988 vintage offers value-add through selective renovations and systems upgrades
- Household growth and rising incomes (3-mile radius) support occupancy stability
- Risks: below-average safety metrics and school ratings require active management and underwriting