| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Poor |
| Demographics | 63rd | Good |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4905 73rd St, La Mesa, CA, 91942, US |
| Region / Metro | La Mesa |
| Year of Construction | 1972 |
| Units | 36 |
| Transaction Date | 1998-12-31 |
| Transaction Price | $57,500 |
| Buyer | JOEHNK KARSTEN |
| Seller | JUERGEN EWERT |
4905 73rd St, La Mesa CA Multifamily Investment
Neighborhood occupancy trends sit above national medians and ownership costs are elevated for the metro, supporting renter demand according to WDSuite’s CRE market data. These are neighborhood-level signals, not property performance, and they suggest stable leasing fundamentals for a 36-unit asset in an inner-suburban location.
Located in La Mesa’s inner suburbs of the San Diego metro, the neighborhood is rated B- and ranks 307 out of 621 metro neighborhoods, placing it around the metro median. Grocery access is a relative strength (around the 90th percentile nationally), while parks, pharmacies, and cafes within the neighborhood boundary are limited, which investors should weigh when assessing resident amenity expectations versus nearby alternatives.
Neighborhood occupancy is in the 68th percentile nationally, indicating tighter conditions than the U.S. average and supportive backdrop for sustained leasing. Median contract rents in the neighborhood skew higher (upper-80s percentile nationally), but the rent-to-income ratio trends lower than many peer areas, which can aid retention and reduce turnover risk.
On schools, the neighborhood’s average rating trends below national norms (about the 37th percentile), which may factor into unit mix and marketing strategy. The median construction year for nearby stock is 1979; with the subject property built in 1972, investors should underwrite ongoing capital planning and potential value-add to sharpen competitive positioning.
Within a 3-mile radius, demographics point to a larger tenant base: population and household counts have grown modestly in recent years, with projections indicating further population growth and a notable increase in households over the next five years. This supports renter pool expansion and occupancy stability at the submarket scale, based on CRE market data from WDSuite.
Tenure patterns vary by geography: at the neighborhood level, the renter-occupied share is roughly one-third of housing units, signaling a more ownership-leaning micro-area, while the broader 3-mile radius shows a near balance of renter- and owner-occupied units. For investors, this combination suggests depth from commuters and workforce renters even as nearby ownership costs remain high (home values in the 90th-plus national percentile), which tends to sustain reliance on multifamily housing.
Safety indicators are mixed. The neighborhood’s crime rank is 204 out of 621 metro neighborhoods, which indicates higher crime incidence than the metro median. Nationally, the area sits near the 37th percentile for safety, suggesting below-average safety versus U.S. neighborhoods.
Trends are divergent by category: property offenses have been trending lower year over year, while violent offense rates are lower percentile-wise nationally and saw a recent uptick. For underwriting, this points to standard risk management practices (access control, lighting, resident screening) and attention to insurance and security line items, rather than assumptions of block-level conditions.
Proximity to established employers across defense, utilities, distribution, wireless, and biotech underpins a diversified renter base and commute convenience for workforce tenants.
- L-3 Telemetry & RF Products — defense & aerospace (6.7 miles)
- Sempra Energy — utilities (7.9 miles) — HQ
- Sysco — food distribution (11.7 miles)
- Qualcomm — wireless & semiconductors (12.7 miles) — HQ
- Celgene Corporation — biotech/pharma (12.9 miles)
This 36-unit 1972-vintage property in La Mesa benefits from neighborhood occupancy that trends above the national median and a high-cost ownership landscape, both of which support steady renter demand and leasing durability. Within a 3-mile radius, recent population and household growth, alongside projections for further expansion, point to a larger tenant base and support for sustained absorption and retention. According to CRE market data from WDSuite, neighborhood rents skew higher versus national norms while rent-to-income is comparatively manageable, suggesting room for disciplined revenue management without overextending affordability.
Given the asset’s older vintage relative to the local 1979 average, a targeted value-add or systems modernization plan can enhance competitiveness against newer stock. Investors should also account for below-average school ratings, limited in-neighborhood park/cafe amenities, and mixed safety signals when shaping operations, marketing, and resident-experience initiatives.
- Occupancy above national medians at the neighborhood level supports leasing stability
- High-cost ownership market reinforces reliance on multifamily and pricing power
- 3-mile population and household growth expands the renter pool and demand depth
- 1972 vintage offers value-add and capex-driven upside versus a 1979 neighborhood average
- Risks: below-average school ratings, limited park/cafe density, and safety metrics below national averages