| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 57th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7200 Saranac St, La Mesa, CA, 91942, US |
| Region / Metro | La Mesa |
| Year of Construction | 1973 |
| Units | 68 |
| Transaction Date | 2018-02-23 |
| Transaction Price | $12,877,000 |
| Buyer | F & F Saranac LP |
| Seller | Tanioka Shigeru, Private Investor, Tanioka Shigeru, Price/unit and /sf |
7200 Saranac St, La Mesa Multifamily Investment
Stabilized renter demand and an Urban Core location support steady performance, according to WDSuite s CRE market data. Neighborhood occupancy trends sit above the metro median, signaling durable leasing even as capital plans focus on a 1973 vintage.
The property sits in an Urban Core pocket of La Mesa within the San Diego-Chula Vista-Carlsbad metro, where neighborhood fundamentals point to consistent renter demand. Neighborhood occupancy ranks above the metro median (280 out of 621) and lands in the top quartile nationally, suggesting comparatively tighter leasing conditions than many U.S. neighborhoods. A high renter-occupied share of housing units (96th percentile nationally) indicates a deep tenant base that can support renewal rates and stabilize turnover.
Amenities are a relative strength: restaurant and caf E9 density are competitive among metro peers (both above the metro median) and strong versus the nation, while grocery access trends above national midpoints. However, park and pharmacy counts are limited in the immediate neighborhood, which may modestly affect daily convenience for residents relative to other San Diego submarkets.
Within a 3-mile radius, demographics show a larger working-age cohort and steady household formation, with households and families expanding over the past five years and additional growth projected. This points to a larger tenant base and supports occupancy stability for multifamily assets. Median school ratings trend slightly above national midpoints, which can aid retention for family-oriented renters while not being a primary rent driver.
The asset A0was built in 1973, a bit older than the neighborhood A0average construction year of 1979. For investors, that typically means planning for ongoing capital projects and selective renovations, with potential to capture value-add upside versus newer competitive stock.
Safety conditions are mixed when viewed against the wider region and nation. The neighborhood sits roughly around the metro middle (crime rank 301 out of 621), while national comparisons indicate below-median safety overall (31st percentile nationwide). For risk management, this argues for attentive security, lighting, and operational oversight rather than underwriting to best-in-class benchmarks.
Trend-wise, property offenses have improved recently, with a meaningful year-over-year decline (better than most U.S. neighborhoods by percentile), though violent offense measures track weaker nationally. Investors may want to monitor ongoing citywide initiatives and submarket trends as part of standard asset management and resident-experience planning.
Proximity to diversified employers supports renter demand through commute convenience, particularly in defense & aerospace, energy utilities, food distribution, and technology. The nearby presence of L-3, Sempra Energy, Sysco, Qualcomm, and Celgene provides a broad employment base that can underpin leasing and retention.
- L-3 Telemetry & RF Products defense & aerospace offices (6.4 miles)
- Sempra Energy energy utilities (7.9 miles) HQ
- Sysco food distribution (11.4 miles)
- Qualcomm technology & R&D (12.4 miles) HQ
- Celgene Corporation biotechnology offices (12.6 miles)
7200 Saranac St offers scale at 68 units with neighborhood-level occupancy trends above the metro median and a renter-occupied housing share that is among the highest nationally, supporting depth of demand and renewal potential. Elevated ownership costs in the area (high value-to-income metrics) help sustain reliance on multifamily rentals, while nearby employer clusters in defense, energy, distribution, and tech broaden the prospective tenant base. Based on CRE market data from WDSuite, the neighborhood A0posts strong income and amenity signals relative to national medians, reinforcing pricing power when paired with consistent operations.
Constructed in 1973, the asset is slightly older than local stock, creating a clear value-add path through unit and systems modernization while maintaining competitive positioning. Within a 3-mile radius, steady population and household growth today and into the forecast window point to a larger renter pool over time, which can support occupancy stability and leasing velocity.
- Above-metro-median neighborhood occupancy supports consistent leasing and renewals.
- High renter-occupied share indicates a deep tenant base for multifamily demand.
- 1973 vintage offers value-add and capital planning opportunities to enhance NOI.
- Diverse nearby employers (defense, energy, tech) underpin renter demand and retention.
- Risks: safety metrics trail national averages and local park/pharmacy access is limited; proactive operations and amenity strategy recommended.