| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 43rd | Poor |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12630 Lakeshore Dr, Lakeside, CA, 92040, US |
| Region / Metro | Lakeside |
| Year of Construction | 1974 |
| Units | 40 |
| Transaction Date | 2022-04-29 |
| Transaction Price | $9,500,000 |
| Buyer | PI PROPERTIES NO 45 LLC |
| Seller | BUEGE FAMILY TRUST |
12630 Lakeshore Dr, Lakeside CA Multifamily Value-Add
Neighborhood occupancy is stable and renter-occupied share is high for this inner-suburban pocket of San Diego County, according to WDSuite’s CRE market data. For investors, that points to durable tenant demand at the neighborhood level rather than the property itself.
Lakeside’s inner-suburban setting offers day-to-day convenience that supports leasing: grocery and pharmacy access score in the higher national percentiles, while restaurants are competitive and parks are comparatively abundant. Cafés are sparse, so lifestyle amenities skew practical over trendy. Average school ratings sit near the national middle, which can still serve workforce-oriented demand profiles.
On fundamentals, the neighborhood sits above national norms for occupancy, and median contract rents have risen meaningfully over the past five years. The area ranks 247th out of 621 San Diego–Chula Vista–Carlsbad metro neighborhoods (B rating), placing it above the metro median in overall performance. Neighborhood occupancy is “above metro median” as well, and net operating income per unit trends are competitive among San Diego neighborhoods.
Tenure patterns matter for multifamily: the neighborhood shows a high share of renter-occupied housing units (top decile nationally), signaling depth in the tenant base and support for steady lease-up. Median home values sit in a high-cost ownership market relative to national benchmarks, which tends to reinforce reliance on multifamily rentals and can aid pricing power when managed against retention risk.
Vintage context: the average construction year in the neighborhood trends around the early 1980s. With a 1974 build, this property is somewhat older than nearby stock, suggesting capital planning and potential value-add or systems modernization could sharpen competitive positioning. Demographic statistics aggregated within a 3-mile radius indicate modest recent change but a forward outlook for population and household growth, which should expand the local renter pool and support occupancy stability.
Safety metrics are mixed when viewed against broader benchmarks. The neighborhood’s crime rank lands in the lower half of the San Diego metro (401 out of 621), indicating conditions below the metro average. Nationally, overall safety sits in lower percentiles, so investors should underwrite appropriate security, lighting, and operational measures.
Trend-wise, violent offense estimates show year-over-year improvement, placing the area above the national median for positive momentum. Even so, current levels remain comparatively elevated versus national norms, so it is prudent to account for insurance assumptions, loss-prevention practices, and resident experience considerations in underwriting.
Nearby employers span food distribution, aerospace/defense, wireless technology, biotech, and energy utilities—sectors that support a diverse workforce and commute convenience for renters in this submarket. The list below reflects key anchors likely to contribute to tenant retention and steady leasing.
- Sysco — food distribution (9.4 miles)
- L-3 Telemetry & RF Products — defense & aerospace (12.9 miles)
- Qualcomm — wireless technology (16.3 miles) — HQ
- Celgene Corporation — biotech (17.2 miles)
- Sempra Energy — utilities (17.3 miles) — HQ
This 40-unit, 1974-vintage asset in Lakeside benefits from an inner-suburban location where neighborhood occupancy trends run above national norms and the renter-occupied share ranks among the highest nationally. Elevated local home values relative to incomes suggest a high-cost ownership market, which generally sustains multifamily demand and can support rent strategies calibrated to retention. Based on CRE market data from WDSuite, the neighborhood’s operating profile sits above the metro median, with stable occupancy and competitive per‑unit NOI for the area.
Forward-looking demographics within a 3-mile radius point to population growth and a notable increase in households, implying a larger tenant base over the next cycle. With an older vintage than the neighborhood average, the property presents value‑add and systems modernization opportunities to enhance rentability versus 1980s-era comparables, while acknowledging the need for thoughtful capital planning. Safety indicators are improving but remain a consideration; underwriting should incorporate appropriate reserves and operating practices.
- Above-median neighborhood performance and occupancy stability support durable cash flow potential
- High renter-occupied share and high-cost ownership context deepen the local tenant pool
- 1974 vintage offers value-add and modernization levers versus newer but dated 1980s stock
- 3-mile demographics indicate population and household growth, reinforcing leasing and retention
- Risks: below-metro-average safety metrics and capex needs; mitigate via reserves and operations