| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Fair |
| Demographics | 47th | Fair |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3675 King St, La Mesa, CA, 91941, US |
| Region / Metro | La Mesa |
| Year of Construction | 1973 |
| Units | 80 |
| Transaction Date | 2023-12-26 |
| Transaction Price | $1,815,681 |
| Buyer | REAL ASYMMETRY KING LLC |
| Seller | CJAH 2016 REVOCABLE TRUST |
3675 King St, La Mesa CA Multifamily Investment
Neighborhood occupancy is strong and renter demand appears durable, according to WDSuite’s CRE market data, supporting a stable revenue profile for an 80-unit asset in San Diego County. The Urban Core location offers everyday convenience and pricing power tempered by retention management needs.
This Urban Core pocket of La Mesa scores a B among 621 metro neighborhoods, with occupancy competitive among San Diego neighborhoods and measured at 97.4% in the surrounding neighborhood. For investors, high occupied housing supports cash flow stability and reduces lease-up risk.
Amenities are mixed: neighborhood grocery access is strong (high national percentile) and restaurants are plentiful, while cafes and pharmacies are thinner. Average public school ratings trend near the national midpoint, which can appeal to a broad renter base without commanding top-tier family premiums. These signals reflect local livability that supports steady leasing rather than luxury-driven rent spikes.
Tenure patterns indicate a meaningful renter concentration at the neighborhood level (around two-fifths of housing units are renter-occupied), suggesting a defined multifamily customer base. Within a 3-mile radius, tenure skews closer to half renter-occupied, expanding the prospect pool for leasing and renewals.
Home values in the neighborhood sit in a high national percentile, characteristic of a high-cost ownership market in San Diego. This typically sustains reliance on rental housing, which can underpin occupancy and moderate pricing power, though it elevates lease management considerations around rent-to-income ratios.
Safety indicators are mixed compared with national benchmarks. Violent and property offense rates track below national safety percentiles, signaling a tougher baseline than many U.S. neighborhoods. However, property offenses show a recent year-over-year decline, indicating some improvement momentum. For underwriting, this supports prudent security spend and proactive resident engagement while recognizing trending improvement.
Proximity to major employers supports a broad workforce renter base and commute convenience, with influence from Sempra Energy, L-3 Telemetry & RF Products, Sysco, Qualcomm, and Celgene.
- Sempra Energy — utilities HQ (6.98 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace offices (7.37 miles)
- Sysco — foodservice distribution (13.20 miles)
- Qualcomm — wireless technology HQ (13.55 miles) — HQ
- Celgene Corporation — biopharma offices (13.59 miles)
3675 King St offers 80 units in a high-cost ownership market where neighborhood occupancy is competitive among San Diego neighborhoods and measured at 97.4%. Based on CRE market data from WDSuite, sustained renter demand and a broad regional employment base support income durability, while rent-to-income dynamics warrant attentive renewal and pricing strategies.
Built in 1973, the property is slightly newer than the neighborhood’s average vintage, providing a relative edge versus older stock while still likely benefiting from targeted modernization (systems, interiors, or amenities) to protect competitiveness and drive value-add returns.
- Occupancy stability in a high-cost ownership market supports cash flow resilience.
- Workforce depth nearby (utilities, defense, tech, logistics, biopharma) reinforces leasing demand.
- 1973 vintage presents value-add potential through targeted upgrades to enhance positioning.
- Elevated rent-to-income ratios imply retention risk, favoring disciplined lease and renewal management.