| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 60th | Fair |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4508 3rd St, La Mesa, CA, 91941, US |
| Region / Metro | La Mesa |
| Year of Construction | 2000 |
| Units | 46 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4508 3rd St, La Mesa CA Multifamily Investment
Neighborhood occupancy has held near the low-90s with a rising renter-occupied share, pointing to steady tenant demand in this La Mesa urban core, according to WDSuite s CRE market data. Elevated ownership costs in the area further support rental reliance and lease retention potential.
Positioned in La Mesa s Urban Core, the neighborhood rates above the metro median (ranked 184 of 621 San Diego neighborhoods, B+), indicating competitive fundamentals for multifamily. The local occupancy rate has hovered in the low-90% range recently with a modest uptick, and renter-occupied housing accounts for roughly 57% of units a high renter concentration that supports a deeper tenant base and steadier leasing.
Within a 3-mile radius, recent population growth alongside a faster increase in households and a gradual reduction in average household size signals a larger renter pool and demand for smaller units over time. Forecasts point to continued household expansion with incomes trending higher, which can help support rent levels and occupancy stability as more renters enter the market.
Everyday amenities are reasonably accessible: parks and restaurants score well versus national peers (parks around the 90th percentile; restaurants about the 83rd percentile), and grocery access is above average for the metro. Childcare density is a relative strength (near the top decile nationally), while cafes and pharmacies are thinner, which may matter for walk-to convenience but is unlikely to materially weaken renter demand.
Median home values are elevated versus national norms and the metro, and the value-to-income ratio sits in a high range, reinforcing reliance on multifamily rentals and aiding retention. School quality averages near the national midpoint to slightly above (around a 3.0 average), which can support family renter demand at attainable price points. Taken together and based on multifamily property research from WDSuite the submarket shows durable renter demand drivers with room for selective asset-level value creation.
Safety indicators are mixed relative to national and metro baselines. Neighborhood crime ranks around the middle of the San Diego metro distribution (254 out of 621), and national positioning sits below the midpoint for safety (crime measures are in the lower national percentiles). This suggests investors should underwrite conservative operating practices and emphasize security-forward management.
Recent trend data shows improvement in property offenses year over year, while violent-offense positioning remains weaker nationally. For underwriting, this typically points to practical measures such as lighting, access control, and tenant screening to support resident satisfaction and retention without assuming outsized expense volatility.
Nearby employers span defense & aerospace, energy utilities, food distribution, wireless/semiconductors, and biopharma a diversified base that supports workforce housing demand and commute convenience for renters.
- L-3 Telemetry & RF Products defense & aerospace offices (8.2 miles)
- Sempra Energy energy utility (9.1 miles) HQ
- Sysco foodservice distribution (12.4 miles)
- Qualcomm wireless/semiconductors (14.1 miles) HQ
- Celgene Corporation biopharma (14.4 miles)
4508 3rd St offers exposure to a La Mesa neighborhood that is above the metro median on overall fundamentals and sustained by a high renter-occupied share. Occupancy in the area has stayed in the low-90% range, and elevated for-sale housing costs reinforce renter reliance, supporting lease retention and pricing resilience. The 2000 construction vintage is newer than the neighborhood s average stock, which can help competitive positioning versus older assets while still leaving scope for targeted modernization and energy or systems upgrades over a hold period.
Within a 3-mile radius, population and households have been expanding, with forecasts indicating further household growth and rising incomes trends that translate to a larger tenant base and support for occupancy stability. According to CRE market data from WDSuite, amenities skew favorable (parks, restaurants, grocery), helping livability for renters, though investors should underwrite measured affordability pressure in rent-to-income ratios and maintain prudent expense assumptions.
- Above-median neighborhood fundamentals and stable occupancy support income durability
- Newer 2000 vintage versus local average offers competitive positioning with value-add potential
- High renter-occupied share and growing 3-mile household counts deepen the tenant base
- Amenity access (parks, restaurants, grocery) enhances renter appeal and retention
- Risks: below-average national safety positioning and affordability pressures require prudent management