| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 61st | Fair |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8420 Buckland St, La Mesa, CA, 91942, US |
| Region / Metro | La Mesa |
| Year of Construction | 1974 |
| Units | 62 |
| Transaction Date | 2018-05-24 |
| Transaction Price | $14,100,000 |
| Buyer | Joehnk LLC |
| Seller | Rimrock LP, Corporation, Curtis Properties Inc., Price/unit and /sf |
8420 Buckland St La Mesa Multifamily Investment
This 62-unit property benefits from neighborhood-level occupancy rates near 99% and strong rental demand fundamentals, according to CRE market data from WDSuite.
La Mesa's inner suburb location positions this neighborhood competitively among the 621 metro neighborhoods, ranking in the top quartile nationally for housing metrics with strong fundamentals supporting rental demand. The area maintains a balanced housing tenure mix, with approximately 49% of units occupied by renters, creating a stable rental market foundation.
Neighborhood-level occupancy reaches 98.9%, ranking in the top quartile nationally and significantly above typical metro performance. Median contract rents of $1,962 reflect the area's positioning in the 91st percentile nationally, while rent-to-income ratios suggest affordability pressures that may require careful lease management strategies.
Demographics within a 3-mile radius show a population of approximately 127,500 with steady household formation trends. The area attracts educated residents, with 34% holding bachelor's degrees, ranking in the 90th percentile nationally. Forecasted household growth of 35.8% through 2028 supports expansion of the renter pool, with median household incomes projected to increase from $95,076 to $128,450.
Built in 1974, this property aligns with the neighborhood's average construction year of 1964, suggesting potential value-add opportunities through strategic capital improvements. Local amenities include strong grocery store density ranking in the 90th percentile nationally and solid restaurant access, supporting tenant retention through convenience factors.
Crime trends present mixed signals requiring careful evaluation. The neighborhood ranks 293rd among 621 metro neighborhoods for overall crime, placing it in the 32nd percentile nationally. Property offense rates have declined 17.3% year-over-year, indicating improving conditions, though violent offense rates increased 42.8% during the same period.
These metrics suggest the need for ongoing monitoring of local safety trends and consideration of security measures that could enhance tenant retention and property positioning within the competitive La Mesa rental market.
The employment base includes established corporate offices and headquarters within reasonable commuting distance, supporting workforce housing demand for the property's tenant profile.
- L-3 Telemetry & RF Products — defense & aerospace offices (7.4 miles)
- Sempra Energy — utilities headquarters (9.5 miles) — HQ
- Sysco — food service distribution (11.0 miles)
- Qualcomm — technology headquarters (13.1 miles) — HQ
- Celgene Corporation — biotechnology offices (13.5 miles)
This 62-unit property leverages strong neighborhood-level occupancy fundamentals near 99% and benefits from projected household growth of 35.8% through 2028, expanding the potential tenant base. The 1974 construction year presents value-add opportunities through strategic renovations, while the area's educated demographic profile and proximity to major employers like Qualcomm and Sempra Energy support stable rental demand.
According to multifamily property research from WDSuite, median household incomes are forecasted to increase 35% over five years to $128,450, potentially supporting rent growth while current rent-to-income ratios require careful lease management. The neighborhood's inner suburb characteristics and amenity density ranking in the 90th percentile nationally enhance tenant retention prospects.
- Neighborhood occupancy near 99% indicates strong rental demand stability
- Projected 35.8% household growth expands potential tenant pool through 2028
- 1974 vintage presents value-add renovation opportunities for competitive positioning
- Proximity to major employers including Qualcomm headquarters supports workforce housing demand
- Risk consideration: Current rent-to-income ratios may limit aggressive rent growth strategies