| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 60th | Fair |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4201 Spring St, La Mesa, CA, 91941, US |
| Region / Metro | La Mesa |
| Year of Construction | 2000 |
| Units | 104 |
| Transaction Date | 2021-07-22 |
| Transaction Price | $10,147,500 |
| Buyer | KINDER7174 LLC |
| Seller | JAMES S BROWN REVOCABLE TRUST |
4201 Spring St La Mesa 104-Unit Multifamily
In a high-cost ownership pocket of San Diego County, the neighborhood shows steady renter demand and resilient occupancy, according to WDSuite s CRE market data.
This Urban Core neighborhood in the San Diego-Chula Vista-Carlsbad metro is rated B+ (rank 184 of 621), signaling balanced fundamentals for workforce and middle-income renters. Neighborhood occupancy is 92.9% (neighborhood metric, not the property), tracking modestly above national norms with a slight five-year uptick, which supports leasing stability and underwriting consistency.
Amenities and daily needs: Childcare density sits in the top decile nationally, parks and open space are top quartile, and restaurants are also strong versus national peers. Grocery access is solid compared with most U.S. neighborhoods. By contrast, cafes and pharmacies are limited locally, which may shift some errands and lifestyle spend to nearby districts.
Demand drivers and renter base: The share of housing units that are renter-occupied is 56.8% (top decile nationally), indicating a deep local tenant base and support for sustained multifamily demand. Neighborhood NOI per unit trends around the 75th national percentile, suggesting income performance that compares favorably to many U.S. locations. With a neighborhood average construction year of 1975, the subject s 2000 vintage offers competitive positioning versus older stock while still benefiting from thoughtful modernization plans typical for 25-year-old systems.
Affordability context: Elevated home values (top decile nationally) in La Mesa contribute to a high-cost ownership market, which tends to reinforce reliance on rental housing and can aid lease retention. At the same time, the neighborhood s rent-to-income ratio of roughly 0.26 points to manageable affordability pressure relative to many coastal markets, supporting pricing power without overextending residents.
3-mile demographic lens: Data aggregated within a 3-mile radius shows population growth over the last five years with further gains expected, plus an increase in households alongside smaller average household size in forecasts. This mix implies a larger tenant base and more renters entering the market over time, underpinning occupancy stability and absorption potential for well-positioned assets.
Neighborhood safety indicators are mixed and should be evaluated alongside property-level controls and tenant profile. The area s crime rank is 254 among 621 San Diego metro neighborhoods, placing it around the middle of the pack locally, while national comparisons suggest safety levels below the U.S. average. Recent trends diverge: property offenses show a year-over-year decline, whereas violent offense estimates have risen, emphasizing the importance of active management and coordination with local resources.
Proximity to defense, energy, distribution, life sciences, and telecom headquarters supports a diversified employment base and commuter convenience for renters. The list below highlights nearby anchors most likely to influence leasing and retention.
- L-3 Telemetry & RF Products — defense & aerospace (8.6 miles)
- Sempra Energy — utilities & energy (9.2 miles) — HQ
- Sysco — food distribution (12.7 miles)
- Qualcomm — telecommunications & semiconductors (14.5 miles) — HQ
- Celgene Corporation — biotechnology (14.7 miles)
Built in 2000 with 104 units, the property competes favorably against a neighborhood stock that skews older (average 1975), offering an edge on design and systems while still leaving room for targeted value-add and modernization. Based on CRE market data from WDSuite, neighborhood occupancy remains steady and slightly above national norms, and renter-occupied housing share sits in the top decile nationally — indicators of depth and durability in the tenant base.
High local home values reinforce renter reliance on multifamily housing, supporting lease retention and pricing power. Within a 3-mile radius, rising population and faster growth in households point to renter pool expansion and support for long-term absorption. Taken together, these dynamics position the asset for stable operations with upside via renovations and asset management, while warranting routine attention to safety and affordability monitoring.
- 2000 vintage offers competitive positioning versus older neighborhood stock with selective value-add potential
- Steady neighborhood occupancy and deep renter base support leasing stability
- High-cost ownership market reinforces rental demand and potential retention
- 3-mile radius shows population and household growth, aiding long-term absorption
- Risk: mixed safety trendlines and limited nearby cafes/pharmacies call for proactive operations and resident engagement