| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 64th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8991 Grossmont Blvd, La Mesa, CA, 91941, US |
| Region / Metro | La Mesa |
| Year of Construction | 2000 |
| Units | 94 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8991 Grossmont Blvd La Mesa Multifamily Investment
This 94-unit property built in 2000 benefits from neighborhood-level occupancy of 98.6% and strong renter demand in San Diego County's Inner Suburb market. Commercial real estate analysis shows the area maintains top-quartile amenity access nationally while supporting stable rental fundamentals.
Located in La Mesa's Inner Suburb market, this neighborhood ranks in the top 6% among 621 San Diego metro neighborhoods with an A-rating. The area demonstrates exceptional amenity density, ranking 16th metro-wide with 95th percentile access nationally to restaurants, grocery stores, and pharmacies. Neighborhood-level occupancy of 98.6% reflects strong rental demand, while the 68.4% renter-occupied housing share indicates a substantial tenant base for multifamily properties.
Built in 2000, this property aligns with newer construction trends in an area where the average building vintage is 1974, potentially reducing near-term capital expenditure requirements compared to older neighborhood stock. Median contract rents of $1,364 at the neighborhood level have grown 23.3% over five years, though investors should monitor affordability dynamics as rent-to-income ratios suggest some pressure on tenant retention.
Demographics within a 3-mile radius show stable fundamentals with 137,108 residents and modest 3.5% population growth over five years. The area maintains a diverse age profile, with 24.2% of residents aged 18-34 supporting rental demand. Median household income of $91,223 has increased 36.5% over five years, while forecasts project continued income growth to $124,460 by 2028, supporting rent growth potential and lease renewal stability.
Home values averaging $714,700 represent a significant premium to renter household incomes, with a value-to-income ratio ranking in the 99th percentile nationally. This dynamic reinforces rental demand as elevated ownership costs sustain renter reliance on multifamily housing, though investors should consider competitive pressure from new supply given strong household formation trends.
Safety metrics show mixed trends requiring careful consideration. Property crime rates rank 187th among 621 metro neighborhoods, placing the area above median but with room for improvement. Notably, property crime has declined 40.8% year-over-year, ranking in the 82nd percentile nationally for improvement trends.
Violent crime rates present greater challenges, with incidents at 405 per 100,000 residents ranking in the bottom quartile nationally. However, investors should evaluate these metrics within the broader San Diego County context and consider on-site security measures as part of property management strategies. Crime trends vary significantly at the block level, making property-specific due diligence essential.
The La Mesa area benefits from proximity to major San Diego employment centers, with several corporate headquarters and offices within commuting distance supporting workforce housing demand.
- L-3 Telemetry & RF Products — defense technology (8.4 miles)
- Sempra Energy — utility services (9.9 miles) — HQ
- Sysco — food distribution (11.7 miles)
- Qualcomm — technology (14.1 miles) — HQ
- Celgene Corporation — biotechnology (14.4 miles)
This 94-unit property presents compelling fundamentals anchored by neighborhood-level occupancy of 98.6% and strong amenity access ranking in the top 6% of San Diego metro neighborhoods. Built in 2000, the property offers modern construction advantages while benefiting from established rental demand in an Inner Suburb market with 68.4% renter-occupied units. According to CRE market data from WDSuite, the area maintains exceptional restaurant and retail density supporting tenant retention, while demographics within a 3-mile radius show steady population growth and rising household incomes projected to reach $124,460 by 2028.
The investment case centers on rental demand stability driven by elevated home values that reinforce multifamily housing reliance. Median home values of $714,700 create significant ownership barriers, ranking in the 99th percentile nationally for value-to-income ratios. This dynamic supports lease renewal rates and pricing power, though investors should monitor rent-to-income pressures and competitive supply given strong household formation trends in the broader San Diego market.
- Neighborhood occupancy of 98.6% indicates strong rental demand and absorption
- Top-quartile amenity access nationally supports tenant retention and lease renewals
- Year 2000 construction reduces near-term capital expenditure requirements
- Elevated ownership costs reinforce rental market demand fundamentals
- Risk: Rent-to-income ratios suggest affordability pressure requiring lease management attention