| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Poor |
| Demographics | 81st | Best |
| Amenities | 40th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2031 Paseo Dorado, La Jolla, CA, 92037, US |
| Region / Metro | La Jolla |
| Year of Construction | 2000 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2031 Paseo Dorado, La Jolla Multifamily Investment
Built in 2000 in a high-cost ownership pocket of La Jolla, the asset benefits from durable renter demand and competitive positioning versus older local stock, according to WDSuite’s CRE market data.
La Jolla’s coastal setting supports lifestyle appeal while core daily needs are accessible: parks are plentiful (top quartile among 621 metro neighborhoods; 93rd percentile nationally) and both restaurants and groceries sit above the metro median for access. Cafes and pharmacies are thinner locally, so residents lean on nearby commercial corridors for those services.
Rents in the neighborhood price near the upper end of national comparisons (around the 92nd percentile), signaling a well-capitalized tenant base. Neighborhood occupancy sits below the metro middle today (ranked 554 of 621), so operators should focus on leasing discipline and retention to stabilize. The property’s 2000 vintage is newer than the neighborhood average 1978, which can help competitiveness against older inventory while still warranting planning for mid-life system updates.
Tenure patterns are mixed at different geographies. Within the immediate neighborhood, renter-occupied share is lower (28.2%), indicating more owner-occupied housing nearby and a shallower immediate renter pool. In contrast, demographics aggregated within a 3-mile radius show roughly half of units renter-occupied, supporting broader multifamily demand and a deeper pipeline of prospective tenants.
High home values (top 1% nationally) and a high value-to-income ratio at the neighborhood level underscore a high-cost ownership market, which tends to reinforce reliance on rental housing and can aid lease retention. Income indicators are strong locally, and 3-mile forecasts point to an increase in households alongside rising median incomes, which supports rent growth potential and occupancy stability over time. These dynamics, based on commercial real estate analysis from WDSuite, favor well-managed multifamily operations focused on service quality and pricing discipline.
Safety metrics here are mixed and should be underwritten thoughtfully. Compared with U.S. neighborhoods, recent estimates place the area in lower national percentiles for safety (violent and property offenses), indicating higher incident rates than many locations. Within the metro, the neighborhood’s crime rank sits in the lower half among 621 neighborhoods, so investors should plan for appropriate security measures and insurance assumptions.
On the positive side, property offenses show a recent year-over-year decline, suggesting some easing in trends. As always, evaluate property-specific measures, lighting and access controls, and monitor local policing initiatives and trendlines over time rather than relying on a single data point.
Nearby anchors in biotech, semiconductors, defense, and utilities provide a diversified employment base that supports renter demand and retention for workforce and professional households. The list below highlights major employers within commuting distance mentioned in this analysis.
- Celgene Corporation — biotech (3.4 miles)
- Qualcomm — semiconductors (4.7 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (7.4 miles)
- Sempra Energy — utilities (10.7 miles) — HQ
2031 Paseo Dorado offers a 2000-built, 20-unit footprint in a La Jolla submarket where ownership costs are elevated and neighborhood rents benchmark high nationally. This newer vintage relative to the area’s 1970s average enhances competitive positioning versus older stock, while prudent capital planning should account for mid-life building systems and targeted upgrades. According to CRE market data from WDSuite, neighborhood occupancy trends sit below the metro middle, so returns hinge on hands-on leasing, renewals, and service-led retention.
Demand fundamentals are supported by high neighborhood incomes and a broader 3-mile catchment with a large professional tenant base; forecasts indicate rising household counts and higher median incomes, which reinforce a stable renter pool and pricing power for well-operated assets. The high-cost ownership landscape further sustains reliance on multifamily housing, though investors should underwrite safety measures and operating costs with care.
- Newer 2000 vintage versus neighborhood average, aiding competitiveness with older stock
- High-cost ownership market supports multifamily demand and lease retention
- 3-mile area shows strong incomes and growing household counts, expanding the tenant base
- Elevated neighborhood rent positioning enables pricing discipline for quality operations
- Risks: below-metro neighborhood occupancy and safety metrics warrant conservative underwriting