| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 60th | Fair |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4265 Palm Ave, La Mesa, CA, 91941, US |
| Region / Metro | La Mesa |
| Year of Construction | 1990 |
| Units | 40 |
| Transaction Date | 1997-06-10 |
| Transaction Price | $2,325,000 |
| Buyer | CHATEAU SPRING GARDENS LLC |
| Seller | BLATCHLEY WILLIAM |
4265 Palm Ave, La Mesa Multifamily Investment
Neighborhood occupancy is around the low-90s, supporting steady renter demand amid a high-cost ownership market, according to WDSuite’s CRE market data.
Located in La Mesa within the San Diego-Chula Vista-Carlsbad metro, the neighborhood carries a B+ rating and ranks 184 out of 621 neighborhoods — competitive among San Diego-Chula Vista-Carlsbad neighborhoods. For investors, this signals balanced fundamentals and leasing depth relative to the broader metro.
The asset’s 1990 vintage is newer than the area’s average 1970s housing stock, which can aid leasing versus older comparables while still leaving room for targeted modernization of systems and finishes as part of a value-add plan. The tenant base is supported by a renter-occupied share of housing units near the majority range in this neighborhood, indicating a deep market for multifamily product and potential stability in the tenant pipeline.
Amenities are a relative strength for daily needs: grocery access sits above national norms and parks are in the top decile nationally, while restaurants are also well represented. Childcare density is notably strong. Café and pharmacy counts are limited locally, so residents may rely on nearby submarkets for those categories — an underwriting consideration for resident convenience rather than a core demand driver.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to continue expanding, pointing to a larger tenant base over time. Elevated home values in this neighborhood (high relative to national benchmarks) reinforce reliance on rental housing, which can support occupancy stability and pricing power when managed carefully. Median school ratings sit modestly above national averages, contributing to neighborhood livability for a range of renter profiles.
Safety metrics for the neighborhood are mixed. Compared with neighborhoods nationwide, overall safety benchmarks sit below the national median, while the area ranks 254 out of 621 within the metro — competitive among San Diego-Chula Vista-Carlsbad neighborhoods. Recent trends show a year-over-year decline in property offenses, but violent-offense indicators have moved unfavorably over the same period.
For underwriting, a prudent approach is to compare block-to-block dynamics, assess lighting and access control at the asset, and monitor local enforcement and community programs. Emphasizing on-site safety features and resident engagement can help mitigate perceptions and support retention.
The location taps into a diversified employment base that supports renter demand and retention, including defense and aerospace, energy utilities, food distribution, wireless technology, and biotech. The employers below reflect realistic commute times that can sustain workforce housing demand.
- L-3 Telemetry & RF Products — defense & aerospace (8.4 miles)
- Sempra Energy — energy utilities (9.1 miles) — HQ
- Sysco — food distribution (12.6 miles)
- Qualcomm — wireless technology (14.3 miles) — HQ
- Celgene Corporation — biotech (14.6 miles)
This 40-unit, 1990-vintage asset is positioned to compete well against older neighborhood stock while offering room for targeted renovations that can enhance NOI. Neighborhood occupancy sits above national medians and has trended slightly higher over five years, supporting an investment thesis centered on steady lease-up and retention. Elevated ownership costs locally tend to keep renters in place longer, reinforcing the tenant base.
Within a 3-mile radius, population and household counts have grown and are projected to continue expanding, pointing to a larger renter pool over time. Rents are high relative to national benchmarks, yet everyday amenities and access to the broader San Diego job base underpin demand; according to CRE market data from WDSuite, these dynamics align with stable occupancy patterns and support disciplined rent management.
- 1990 vintage offers competitive positioning versus older comparables with potential value-add upside through selective upgrades.
- Neighborhood occupancy in the low-90s and modest upward trend support leasing stability and retention.
- High local home values reinforce reliance on rental housing, supporting pricing power when managed carefully.
- Risks: mixed safety trends and limited café/pharmacy options locally call for proactive asset management and resident-experience planning.