| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Fair |
| Demographics | 73rd | Good |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5545 Morro Way, La Mesa, CA, 91942, US |
| Region / Metro | La Mesa |
| Year of Construction | 2000 |
| Units | 106 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5545 Morro Way La Mesa Multifamily Investment
Renter concentration in the surrounding neighborhood and a high-cost ownership market support steady demand, according to WDSuite’s CRE market data. With 2000 vintage construction, the asset competes well against older local stock while leaving room for selective modernization.
Located in La Mesa’s inner-suburban fabric of the San Diego metro, the property sits in a neighborhood rated A- and ranked 120 out of 621 metro neighborhoods — competitive among San Diego-Chula Vista-Carlsbad neighborhoods. Restaurants and grocery options test in the mid-90s nationally for density, while parks and childcare access are also strong; cafes and pharmacies are less prevalent, which may modestly limit walk-to convenience for some residents.
Neighborhood schools average 4.0 out of 5 (84th percentile nationally), a family-friendly signal that can aid resident retention. The area skews toward renters, with about 64.5% of housing units renter-occupied — a deep tenant base that supports leasing and renewal activity. Neighborhood occupancy is reported at 88.5%; investors should underwrite with attention to property-level operations given a five-year softening in neighborhood occupancy.
Within a 3-mile radius, population and households have grown in recent years, with projections pointing to further population growth and a notable increase in households over the next five years. Slightly smaller average household size suggests continued formation of smaller households, expanding the renter pool and supporting occupancy stability and unit absorption.
The neighborhood’s average construction year is 1976. Built in 2000, the subject property is newer than much of the competitive stock, offering relative appeal on systems and finishes; targeted updates can further sharpen positioning versus older assets without the full capital profile of ground-up newer product.
Home values in the neighborhood are elevated (nationally in the low 90s percentiles) and the value-to-income ratio is high. In practice, this high-cost ownership context reinforces reliance on multifamily rentals and can support pricing power, though lease management should account for rent-to-income pressures.
Safety indicators for the neighborhood trend below national medians, with national percentiles in the lower third. However, recent data show property offense rates declining year over year, while estimated violent offense trends moved higher. For investors, this mixed picture argues for standard security and lighting protocols, resident communication, and partnership with local community resources rather than assumptions of uniform improvement.
Within the San Diego metro context (621 neighborhoods), the area sits mid-pack on safety, and conditions can vary block to block. Underwriting should focus on current police-reported trends and onsite measures typical for professionally managed properties in inner-suburban locations.
The location draws from a diversified employment base that supports renter demand and commute convenience, including defense/aerospace, banking services, energy utilities, food distribution, and wireless/semiconductors.
- L-3 Telemetry & RF Products — defense & aerospace (7.1 miles)
- Wells Fargo — banking services (9.0 miles)
- Sempra Energy — energy utilities (9.1 miles) — HQ
- Sysco — food distribution (10.9 miles)
- Qualcomm — wireless & semiconductors (12.8 miles) — HQ
This 106-unit asset, built in 2000, benefits from a renter-heavy neighborhood, strong school ratings, and proximity to diverse employment centers. Elevated neighborhood home values and a high value-to-income ratio point to a high-cost ownership market that tends to sustain multifamily demand and support rent levels. According to CRE market data from WDSuite, neighborhood occupancy and amenity access are supportive, though investors should account for five-year softness in neighborhood occupancy when modeling lease-up and renewal assumptions.
Vintage positioning versus older 1970s-era stock offers competitive advantages with potential value-add through targeted interior and common-area updates. Within a 3-mile radius, recent and projected gains in population and households expand the tenant base, which can bolster occupancy stability and leasing velocity.
- Renter-oriented neighborhood with strong school ratings, supporting retention and demand depth
- 2000 vintage competes well versus older local stock, with targeted renovation upside
- High-cost ownership environment reinforces reliance on rentals and pricing power
- Diverse employers within 7–13 miles underpin steady workforce housing demand
- Risks: neighborhood occupancy softened over five years and rent-to-income pressures warrant disciplined underwriting