| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 43rd | Poor |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10229 Ashwood St, Lakeside, CA, 92040, US |
| Region / Metro | Lakeside |
| Year of Construction | 1972 |
| Units | 41 |
| Transaction Date | 2005-12-27 |
| Transaction Price | $3,510,000 |
| Buyer | CARV PROPERTIES LLC |
| Seller | WISNESKI DOUGLAS S |
10229 Ashwood St, Lakeside Multifamily Opportunity
Renter-occupied housing is comparatively high in the surrounding neighborhood, supporting steady tenant demand and leasing durability, according to WDSuite’s CRE market data.
Located in Lakeside within the San Diego metro, the neighborhood earns a B rating and is competitive among San Diego-Chula Vista-Carlsbad neighborhoods (rank 247 of 621). Grocery and park access score above metro norms (both in the 80s by national percentile), while restaurants are solidly represented. Caf e density is limited, and average school ratings sit near the national midpoint, suggesting a balanced but not premium family amenity profile.
For investors, the renter-occupied share of housing units is high relative to the metro (rank 120 of 621) and sits in the top decile nationally, indicating a deep tenant base for multifamily. Neighborhood occupancy is in the low-to-mid 90% range and has been stable over the past five years, which can support income consistency through cycles. Median contract rents track in the upper tiers nationally, while rent-to-income ratios are comparatively moderate, which can aid lease retention and reduce turnover risk.
Construction vintage in the area averages 1981. The property cs 1972 build is older than the neighborhood norm, pointing to potential capital planning needs but also value-add and renovation upside to better compete against newer stock.
Demographic statistics are aggregated within a 3-mile radius. Near-term population and household counts have been relatively steady, but forward-looking projections point to growth in both households and incomes over the next five years, expanding the local renter pool. Elevated home values (around the 85th national percentile) and a higher value-to-income ratio for the neighborhood indicate a high-cost ownership market, which tends to sustain multifamily demand and can support pricing power when managed alongside affordability and retention goals.
Neighborhood safety metrics rank below the metro median (crime rank 401 of 621), and national percentiles indicate higher-than-average levels of reported incidents compared with many U.S. neighborhoods. However, recent trend data show year-over-year improvement in violent offenses, suggesting some directional progress. Investors should account for safety perceptions in underwriting, marketing, and retention strategies, and monitor trends relative to nearby San Diego submarkets.
The employment base nearby mixes distribution, aerospace/defense, life sciences, and energy/technology, supporting workforce housing demand and commute convenience for renters. The list below highlights notable employers within a commutable radius that can contribute to leasing stability.
- Sysco cspan e 9 c/span e cspan e c/span e cspan e c/span e cspan e c/span e cspan e c/span e cspan e c/span e cspan e c/span e cem edistribution (9.3 miles) c/em e
- L-3 Telemetry & RF Products cem eaerospace & defense offices (13.0 miles) c/em e
- Qualcomm cem etechnology R&D (16.3 miles) c/em e cspan e c/span e cspan e c/span e cspan e c/span e cspan e c/span e cstrong eHQ c/strong e
- Celgene Corporation cem elife sciences (17.2 miles) c/em e
- Sempra Energy cem eenergy utilities (17.5 miles) c/em e cstrong eHQ c/strong e
This 41-unit property at 10229 Ashwood St sits in a renter-heavy Lakeside neighborhood where occupancy has been resilient and amenities like groceries, parks, and everyday services rate above average. The 1972 vintage is older than the neighborhood norm, which implies targeted capex and repositioning opportunities to capture value relative to newer stock. Elevated ownership costs in the area continue to reinforce reliance on multifamily housing, while rent-to-income ratios suggest room to prioritize retention and measured rent growth as conditions allow, based on CRE market data from WDSuite.
Within a 3-mile radius, demographic projections indicate a larger tenant base over the next five years alongside rising household incomes, supporting leasing stability and potential pricing power. Nearby employers across distribution, technology, life sciences, and energy broaden the demand base and help reduce reliance on a single industry.
- Deep renter-occupied housing base (competitive in metro; top tier nationally) supports demand durability.
- Occupancy has remained stable with neighborhood rates in the low-to-mid 90% range, aiding cash flow consistency.
- 1972 vintage presents value-add and modernization potential to improve positioning versus newer supply.
- High-cost ownership market sustains reliance on rentals; rent-to-income appears manageable for retention.
- Risks: below-metro safety standing and older systems call for proactive capital planning and tenant-experience management.