| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 30th | Poor |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 870 13th St, Imperial Beach, CA, 91932, US |
| Region / Metro | Imperial Beach |
| Year of Construction | 1972 |
| Units | 33 |
| Transaction Date | 2018-01-22 |
| Transaction Price | $6,950,000 |
| Buyer | FOURIER REAL ESTATE HOLDING LLC |
| Seller | CLEAR SKY IMPERIAL BEACH PALMS LLC |
870 13th St Imperial Beach Multifamily Investment
This 33-unit property built in 1972 benefits from strong neighborhood-level occupancy at 96.8% and high rental tenure, with 95th percentile renter share among San Diego metro neighborhoods according to CRE market data from WDSuite.
The Imperial Beach neighborhood demonstrates strong rental fundamentals with 96.8% occupancy and 63.2% of housing units renter-occupied, ranking in the 95th percentile nationally. This high rental tenure share supports consistent tenant demand in a market where median contract rents reach $1,796, positioning above the 88th percentile nationally.
Demographics within a 3-mile radius show a stable tenant base of approximately 86,800 residents, with 59.8% of housing units renter-occupied. The area maintains competitive rental affordability with a rent-to-income ratio of 0.27, though this ranks in the lower percentiles regionally. Forecast data suggests household income growth of 53.6% through 2028, potentially supporting rent growth and tenant retention.
Built in 1972, this property aligns with the neighborhood's average construction year of 1979, indicating consistent building stock without unusual capital expenditure timing pressures. The urban core location provides restaurant density of 5.1 per square mile (81st percentile nationally), though grocery and park amenities remain limited, which investors should consider for tenant retention strategies.
Home values averaging $814,242 with 71.7% five-year appreciation create substantial ownership barriers that reinforce rental demand, as evidenced by the value-to-income ratio ranking in the 99th percentile nationally. This dynamic supports multifamily demand depth and lease retention in the Imperial Beach submarket.
Crime metrics show property offense rates of 2,301 incidents per 100,000 residents, ranking 457th among 621 San Diego metro neighborhoods and placing in the 9th percentile nationally. Violent crime rates register at 450 incidents per 100,000 residents, with the neighborhood ranking in the bottom quartile regionally at 462nd of 621 neighborhoods.
However, recent trends show improvement with violent crime declining 21% year-over-year, placing the neighborhood in the 69th percentile nationally for crime reduction. Investors should factor these safety considerations into tenant screening, property management protocols, and insurance planning, while monitoring whether the improving trend continues to support long-term occupancy stability.
The San Diego metro employment base provides diverse corporate anchors within commuting distance, supporting workforce housing demand for the Imperial Beach submarket.
- Sempra Energy — energy utilities (9.4 miles)
- Sempra Energy — energy utilities (10.1 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (16.8 miles)
- Celgene Corporation — biotechnology (21.9 miles)
- Qualcomm — technology (22.4 miles) — HQ
This 33-unit Imperial Beach property offers stable cash flow fundamentals through neighborhood-level occupancy of 96.8% and dominant rental tenure at 63.2% of housing units. The 1972 construction year presents value-add renovation opportunities while home values averaging $814,242 create ownership barriers that sustain multifamily demand. Forecast household income growth of 53.6% through 2028 supports rent growth potential, though investors should plan for the lower-income tenant profile and safety management considerations.
According to multifamily property research from WDSuite, the Imperial Beach submarket benefits from San Diego's broader employment diversity, with major corporate anchors like Sempra Energy and Qualcomm within commuting distance. The high rental share ranking in the 95th percentile nationally indicates structural rental demand, while recent violent crime improvements suggest stabilizing neighborhood conditions for long-term hold strategies.
- Neighborhood occupancy at 96.8% with 95th percentile rental tenure share
- Value-add potential from 1972 construction with renovation upside
- High ownership costs reinforce rental demand depth
- Forecast 53.6% household income growth supports rent growth
- Risk: Crime rates in bottom quartile require active management