| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 57th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7272 Saranac St, La Mesa, CA, 91942, US |
| Region / Metro | La Mesa |
| Year of Construction | 2000 |
| Units | 72 |
| Transaction Date | 2010-08-26 |
| Transaction Price | $758,500 |
| Buyer | THOMAS CAROL W |
| Seller | THOMAS CAROL W |
7272 Saranac St, La Mesa Multifamily Investment
Neighborhood-level occupancy has trended resilient and renter demand is broad-based, according to CRE market data from WDSuite, supporting stable performance for a 72-unit asset in an Urban Core pocket of La Mesa. These are neighborhood metrics, not property-specific, and they point to durable leasing conditions relative to regional peers.
The property sits in an Urban Core neighborhood rated A- and ranks 140 out of 621 across the San Diego-Chula Vista-Carlsbad metro—competitive among metro neighborhoods and within the top quartile locally. Restaurant and cafe density score well (nationally in the upper tiers), while grocery access tracks above the U.S. midpoint; park and pharmacy density are limited nearby. School ratings average around the national upper-middle range, which can help retain family renters.
At the neighborhood level, occupancy is above national norms and has strengthened over the last five years, supporting rent roll stability. Renter-occupied housing concentration is high, indicating a deep tenant base for multifamily. These figures describe the neighborhood, not the subject property, and suggest steady leasing fundamentals for professionally managed assets.
Home values in the area are elevated relative to national benchmarks, reinforcing reliance on rental housing and helping sustain demand for well-located apartments. At the same time, neighborhood rent levels and rent-to-income positioning indicate that careful lease management can support retention without overextending affordability.
Built in 2000, the asset is newer than the surrounding housing stock (which skews late-1970s), providing a competitive edge over older properties while still leaving room for targeted modernization of interiors and building systems to drive NOI.
Demographic statistics aggregated within a 3-mile radius show modest population growth and a faster rise in households, expanding the local renter pool. Forecasts point to continued increases in households and incomes by the mid-term horizon, a constructive backdrop for occupancy stability and measured rent growth.
Neighborhood safety indicators trend below national averages overall, with violent incidents comparatively elevated and property incidents closer to the lower-middle range when benchmarked nationwide. Within the San Diego metro, the area sits around the middle of the pack.
Recent data show a notable year-over-year decline in property incidents, which is an encouraging directional signal, while violent incident trends have been less favorable. Investors typically account for this profile through community engagement, lighting and access controls, and coordination with local law enforcement, balancing resident experience with operating costs.
Proximity to diversified employers supports commuter convenience and broad renter demand, led by defense & aerospace, energy utilities, food distribution, semiconductors, and biotech.
- L-3 Telemetry & RF Products — defense & aerospace (6.5 miles)
- Sempra Energy — energy utilities (8.0 miles) — HQ
- Sysco — food distribution (11.4 miles)
- Qualcomm — semiconductors (12.5 miles) — HQ
- Celgene Corporation — biotech (12.7 miles)
This 72-unit, 2000-vintage asset benefits from neighborhood fundamentals that rank competitively within the San Diego metro and outperform national medians on several amenity and housing measures. Elevated for-sale housing costs in the area reinforce sustained reliance on rentals, while neighborhood occupancy remains healthy, according to CRE market data from WDSuite. The vintage is newer than much of the local stock, offering relative competitiveness plus targeted value-add potential.
Within a 3-mile radius, modest population gains and faster household growth enlarge the tenant base, and proximity to major employers underpins leasing depth. Affordability should be managed with deliberate renewal strategies given higher regional rent levels, while safety considerations warrant standard property-level measures to support resident experience and retention.
- Competitive Urban Core location with above-average neighborhood occupancy and strong renter concentration
- 2000 construction offers an edge over older local stock with room for selective upgrades
- High-cost ownership market supports durable multifamily demand and pricing power
- 3-mile household growth and diversified nearby employers expand the renter pool
- Risks: below national safety percentiles and limited park/pharmacy density may require added OPEX and resident-experience investments