| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 77th | Best |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5690 Lake Murray Blvd, La Mesa, CA, 91942, US |
| Region / Metro | La Mesa |
| Year of Construction | 1973 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5690 Lake Murray Blvd La Mesa Multifamily Investment
This 38-unit property built in 1973 positions investors in a neighborhood with strong occupancy rates at 95.2% and above-average net operating income per unit performance according to CRE market data from WDSuite.
Located in La Mesa's urban core, this neighborhood ranks in the top 16% nationally among 621 San Diego metro neighborhoods with an A- rating. The area demonstrates strong fundamentals with neighborhood-level occupancy at 95.2% and renter-occupied housing representing 32.8% of all units, supporting consistent rental demand in this established market.
Built in 1973, this property aligns with the neighborhood's average construction year of 1976, indicating potential value-add opportunities through strategic renovations and capital improvements. The area benefits from excellent amenity access, ranking in the 94th percentile nationally for grocery stores and parks, which enhances tenant retention prospects.
Demographics within a 3-mile radius show a stable population of over 134,000 residents with median household income of $93,452. Projections indicate household growth of 37% through 2028, expanding the potential renter pool. With median home values at $793,478 and strong appreciation trends, elevated ownership costs help sustain rental demand and support occupancy stability.
Current median contract rents of $1,638 in the neighborhood provide competitive positioning, while the rent-to-income ratio of 20% suggests manageable affordability for area renters, supporting lease retention and renewal rates.
The neighborhood's safety profile presents mixed indicators that warrant consideration in investment analysis. Property crime rates rank in the bottom third among San Diego metro neighborhoods, though violent crime rates perform better at the 23rd percentile nationally.
Recent trends show property crime increasing 9.7% year-over-year and violent crime rising 35%, which may influence tenant retention and leasing velocity. Investors should factor these trends into security considerations and insurance planning when evaluating long-term hold strategies.
The San Diego metro employment base provides diverse workforce housing demand, with major corporate offices and headquarters within commuting distance supporting rental stability.
- L-3 Telemetry & RF Products — defense & aerospace offices (6.7 miles)
- Sempra Energy — energy utilities (9.0 miles) — HQ
- Sysco — food distribution services (10.7 miles)
- Qualcomm — technology & telecommunications (12.4 miles) — HQ
- Celgene Corporation — biotechnology (12.7 miles)
This 38-unit property offers value-add potential in a neighborhood demonstrating above-average fundamentals. Built in 1973, the vintage aligns with area norms while presenting renovation upside to capture higher rents. Neighborhood occupancy at 95.2% exceeds many markets, while net operating income per unit ranks in the 90th percentile nationally, indicating strong operational performance potential.
Demographic projections show household growth of 37% through 2028 within the 3-mile radius, expanding the renter pool as elevated home values at $793,478 maintain rental demand. The area's A- neighborhood rating and top-quartile amenity access support tenant retention, though investors should monitor recent crime trends and factor security considerations into capital planning.
- Strong occupancy fundamentals at 95.2% neighborhood level
- Net operating income per unit in 90th percentile nationally
- Projected 37% household growth expanding renter demand
- Value-add renovation potential with 1973 construction
- Risk consideration: Recent uptick in property crime trends