| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 57th | Fair |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7471 University Ave, La Mesa, CA, 91942, US |
| Region / Metro | La Mesa |
| Year of Construction | 1983 |
| Units | 33 |
| Transaction Date | 2015-08-18 |
| Transaction Price | $5,800,000 |
| Buyer | MIDLAND PROPERTIES LLC |
| Seller | VKS 4TH AVENUE LLC |
7471 University Ave, La Mesa Multifamily Investment
Neighborhood occupancy has held in a stable range and renter demand is supported by a high share of renter-occupied units in the area, according to WDSuite’s CRE market data. These indicators refer to the surrounding neighborhood rather than the property and point to steady leasing fundamentals for a 33-unit asset in La Mesa.
The property sits in an Urban Core pocket of La Mesa with a neighborhood rating of B and leasing conditions that have remained resilient. The surrounding neighborhood’s occupancy is solid and the renter-occupied share is high, indicating a deep tenant base and demand stability for multifamily units. Median asking rents in the neighborhood track above many areas nationally, reinforcing pricing power while requiring attentive lease management.
Daily needs are well served: grocery access ranks 54th among 621 San Diego metro neighborhoods, placing it competitive within the metro and in the top tier nationally by density. School options average around 3.0 out of 5, suggesting adequate coverage for family renters, while limited park and cafe density may modestly temper lifestyle appeal relative to amenity-rich submarkets.
The building’s 1983 vintage is newer than the neighborhood’s average construction year (ranked 503 of 621 for age), which helps competitive positioning versus older stock. Investors should still expect typical capital planning for systems modernization and potential value-add interior updates to meet current renter expectations.
Demographic statistics aggregated within a 3-mile radius show modest population growth and an increase in households over the last five years, with further gains projected through 2028. This trajectory points to a larger tenant base and supports occupancy stability, even as household sizes trend slightly smaller—factors that generally sustain multifamily demand. Elevated home values in the neighborhood, which are high relative to national norms, reinforce renter reliance on multifamily housing, though rent-to-income levels suggest some affordability pressure to monitor for retention.
Safety trends are mixed when compared with broader benchmarks. The neighborhood’s overall crime rank sits at 124 out of 621 metro neighborhoods, indicating conditions that are weaker than many San Diego-area peers, and national comparisons place the area below the middle of U.S. neighborhoods for safety.
Property offenses have declined meaningfully year over year and sit near the national middle, which is a constructive trend for operators. Violent offense metrics, however, compare less favorably nationally, and recent year-over-year movement has trended higher. Investors should focus on standard security measures, lighting, and resident engagement to support retention while monitoring local trendlines over subsequent periods.
Proximity to established employers supports workforce housing demand and commute convenience for residents, notably across utilities, defense and aerospace, food distribution, communications technology, and biotech—each represented within a manageable drive from the property.
- L-3 Telemetry & RF Products — defense & aerospace offices (7.3 miles)
- Sempra Energy — utilities (7.9 miles) — HQ
- Sysco — food distribution (12.4 miles)
- Qualcomm — communications technology (13.4 miles) — HQ
- Celgene Corporation — biotech (13.5 miles)
This 33-unit asset at 7471 University Ave benefits from a renter-oriented neighborhood where occupancy has remained steady and the renter-occupied share is high, supporting depth of demand and lease stability. Elevated home values relative to national norms underpin continued reliance on rentals, while neighborhood rents suggest pricing power for well-operated properties. According to WDSuite’s commercial real estate analysis, the surrounding area’s leasing fundamentals remain above broad national medians, though careful affordability and renewal management will be important.
The 1983 construction is slightly newer than the neighborhood’s average vintage, offering competitive positioning versus older stock and potential to unlock value with targeted renovations and systems upgrades. Demographic trends within a 3-mile radius point to continued population and household growth into 2028, which expands the local tenant base and supports occupancy. Key risks include mixed safety comparisons within the metro and rent-to-income pressure that could affect retention, warranting prudent expense, amenity, and renewal strategies.
- Renter-heavy neighborhood supports steady tenant demand and occupancy
- Elevated ownership costs locally reinforce reliance on multifamily housing
- 1983 vintage offers value-add potential through unit and systems upgrades
- 3-mile demographics indicate a growing renter pool through 2028
- Risks: mixed safety rankings and affordability pressure may affect renewals