| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 61st | Fair |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9071 Dallas St, La Mesa, CA, 91942, US |
| Region / Metro | La Mesa |
| Year of Construction | 1972 |
| Units | 94 |
| Transaction Date | 2017-05-01 |
| Transaction Price | $21,500,000 |
| Buyer | ALANS PEPPERCORN LLC |
| Seller | THE PARK APARTMENTS |
9071 Dallas St La Mesa Multifamily Opportunity
Neighborhood occupancy is 98.9%, indicating tight renter demand and stable leasing conditions, according to WDSuite’s CRE market data. Elevated for-sale home values in La Mesa further support renter retention for well-positioned communities.
This Inner Suburb location in La Mesa offers daily-needs convenience with strong grocery, restaurant, park, and pharmacy access relative to the metro. Amenity access ranks 178 out of 621 San Diego-Chula Vista-Carlsbad neighborhoods, making it competitive among metro peers, while restaurants and groceries compare favorably to national benchmarks.
The neighborhood’s occupancy is ranked 88 of 621, placing it in the top quartile among metro neighborhoods and indicating limited vacant stock. Median contract rents run high for the region, and the renter-occupied share is 49.4%, signaling a deep tenant base that can support steady absorption and renewal activity.
Construction year for the property is 1972, newer than the neighborhood’s average vintage (1964). For investors, that positioning often improves competitive standing versus older stock, though selective modernization of common areas and building systems may still unlock further performance.
Within a 3-mile radius, population and households have been growing, and households are projected to rise by roughly one-third over the next five years. This trend points to a larger tenant base and supports occupancy stability for multifamily assets as more renters enter the market.
Home values in the neighborhood are elevated relative to national levels, and the value-to-income ratio is high for the region. In investor terms, this high-cost ownership market tends to reinforce reliance on multifamily housing, supporting lease retention and pricing power when managed alongside rent-to-income considerations.
Safety indicators are mixed relative to peers. The neighborhood’s crime rank is 293 out of 621 in the San Diego-Chula Vista-Carlsbad metro, roughly around the metro median. Nationally, safety percentiles trend lower, but recent data shows property offense rates declining year over year, which suggests improving conditions to monitor over time.
Investors should underwrite with prudent assumptions, emphasizing on-site security practices and resident experience initiatives while tracking neighborhood trend lines rather than block-level claims.
Nearby employers in defense/aerospace, food distribution, utilities, wireless, and biotech provide a diversified employment base that can support renter demand and lease retention for workforce-oriented communities.
- L-3 Telemetry & RF Products — defense & aerospace offices (7.9 miles)
- Sysco — food distribution (10.4 miles)
- Sempra Energy — utilities (10.5 miles) — HQ
- Qualcomm — wireless & semiconductors (13.3 miles) — HQ
- Celgene Corporation — biotech offices (13.8 miles)
9071 Dallas St combines tight neighborhood occupancy and strong daily-needs access with a renter base that is roughly half of local housing units, supporting durable demand. The 1972 vintage is newer than nearby averages, offering relative competitiveness while leaving room for targeted value-add through modernization. Elevated home values in the surrounding neighborhood and metro underpin reliance on rentals, which can sustain pricing power when paired with active lease management and attention to rent-to-income dynamics. Based on commercial real estate analysis from WDSuite, the submarket’s fundamentals—high occupancy and expanding household counts within a 3-mile radius—support long-term leasing stability.
Key considerations include neutral-to-lower national safety percentiles and typical capital planning for 1970s construction. However, the area’s diversified employer base and population growth outlook point to a larger renter pool over time, aiding retention and absorption.
- Tight neighborhood occupancy and expanding 3-mile household counts support lease-up and renewals
- 1972 vintage is competitive versus older stock, with selective value-add potential in systems and finishes
- Elevated home values reinforce rental demand and pricing power when managed to rent-to-income
- Proximity to diversified employers supports workforce housing demand and retention
- Risks: mixed safety indicators and ongoing capex needs typical of 1970s construction