| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Fair |
| Demographics | 73rd | Good |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5500 Morro Way, La Mesa, CA, 91942, US |
| Region / Metro | La Mesa |
| Year of Construction | 2000 |
| Units | 90 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5500 Morro Way, La Mesa Multifamily Investment
Positioned in an inner-suburban pocket of La Mesa with a deep renter base and high-cost ownership backdrop, this asset benefits from durable demand drivers, according to WDSuite’s CRE market data. Neighborhood metrics point to steady leasing potential supported by strong amenities and schools.
The property sits in an Inner Suburb neighborhood of the San Diego–Chula Vista–Carlsbad metro that ranks 120 out of 621 metro neighborhoods (A-), placing it in the top quartile among peers. Local amenity access is a strength: neighborhood data show restaurants and grocery options performing in the mid-90s national percentiles, parks and childcare also test in high percentiles, while cafes and pharmacies are thinner. Average school ratings around 4.0 out of 5 (84th percentile nationally) support family appeal and potential lease retention.
Renter concentration in the neighborhood is high, with a large share of housing units renter-occupied (top-quartile standing in the metro and strong nationally). For investors, this indicates a deep tenant base and supports ongoing demand for multifamily product. Neighborhood occupancy is measured for the neighborhood and not the property; at the neighborhood level it trails many metro areas, suggesting the need for active leasing and resident retention programs to stabilize and grow NOI.
Home values test in the low-90s national percentile, and the value-to-income profile is elevated. In practice, a high-cost ownership market tends to reinforce reliance on multifamily housing, which can aid pricing power and reduce move-outs to ownership when managed with attention to rent-to-income and renewal strategies.
Within a 3-mile radius, recent trends show population and household growth with smaller average household sizes, expanding the pool of prospective renters and supporting occupancy stability. Forward-looking projections point to continued household expansion over the next five years, which generally translates to a larger tenant base for professionally managed communities.
Constructed in 2000, the asset is newer than the neighborhood’s average vintage (mid-1970s). That positioning typically improves competitiveness versus older stock and may temper near-term capital expenditure intensity, while still warranting selective modernization of systems and finishes to sustain leasing velocity and rent attainment.
Safety indicators are mixed. Compared with neighborhoods nationwide, the area scores below the national average for safety, with property offenses estimated lower than midpack but still meaningful and violent offenses also below national percentiles. Recent trends show property crime easing year over year, while violent incidents have increased, underscoring the importance of standard security measures and resident engagement.
Within the San Diego–Chula Vista–Carlsbad metro, the neighborhood performs competitively among many peers but not at the top. Investors should underwrite typical safety-related operating practices—lighting, access control, and community programming—and monitor citywide trends as they evolve.
The submarket draws from a diversified employment base across defense, energy, distribution, wireless, and biopharma—supporting commuter convenience and multifamily renter demand. Key nearby employers include L-3 Telemetry & RF Products, Sempra Energy, Sysco, Qualcomm, and Celgene.
- L-3 Telemetry & RF Products — defense & aerospace (7.1 miles)
- Sempra Energy — energy/utilities (9.1 miles) — HQ
- Sysco — foodservice distribution (11.1 miles)
- Qualcomm — wireless & semiconductors (12.9 miles) — HQ
- Celgene — biopharma (13.2 miles)
This 90-unit 2000-vintage asset benefits from a high renter-occupied neighborhood, strong amenity and school fundamentals, and a high-cost ownership environment that supports rental demand. While neighborhood occupancy runs below many metro peers, the combination of a deep tenant base and newer-than-average vintage positions the property to compete effectively with thoughtful leasing and targeted upgrades. Based on CRE market data from WDSuite, these fundamentals align with stable, needs-based demand in San Diego’s inner suburbs.
Within a 3-mile radius, recent population growth, an increase in households, and forecasts for continued household expansion point to a larger tenant base over time. Elevated home values in the area tend to sustain renter reliance on multifamily housing, which can bolster pricing power when paired with measured rent-to-income management. Key risks include softer neighborhood-level occupancy and mixed safety trends, warranting active asset management.
- Newer 2000 vintage offers competitive positioning versus older stock with selective value-add upside
- High renter concentration supports depth of demand and leasing continuity
- Strong amenities and schools aid retention and long-term neighborhood appeal
- High-cost ownership market reinforces reliance on rentals and potential pricing power
- Risks: neighborhood occupancy below many metro peers and mixed safety signals require active management