| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 53rd | Fair |
| Amenities | 41st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9648 Marilla Dr, Lakeside, CA, 92040, US |
| Region / Metro | Lakeside |
| Year of Construction | 1985 |
| Units | 94 |
| Transaction Date | 2016-01-25 |
| Transaction Price | $16,750,000 |
| Buyer | MARILLA SUNDANCE APARTMENT HOMES LP |
| Seller | MG SUNDANCE APARTMENTS LP |
9648 Marilla Dr, Lakeside CA Multifamily Investment
Stabilized renter demand in an inner-suburban San Diego location supports consistent leasing, according to WDSuite’s CRE market data, with local fundamentals favoring cash flow over volatility.
Lakeside sits in the San Diego-Chula Vista-Carlsbad metro’s inner suburbs with a B neighborhood rating and occupancy in the top quartile among 621 metro neighborhoods, indicating resilient leasing conditions for multifamily assets. Median contract rents in the area are positioned above many U.S. neighborhoods while the rent-to-income ratio trends near manageable levels, a mix that can sustain occupancy and measured pricing power for operators.
Everyday convenience is supported by a solid base of neighborhood-serving retail: grocery access ranks well versus national peers (around the 80th percentile nationally), and childcare density is a relative strength (around the 90th percentile). Restaurants are reasonably present, though cafes and parks are limited in immediate proximity; investors should expect residents to rely on broader East County nodes for some lifestyle amenities. These dynamics align with workforce-oriented demand profiles rather than destination retail.
The housing stock nearby skews newer than this asset (average neighborhood vintage is 1997), while the property’s 1985 construction suggests potential value-add through targeted renovations and system upgrades to remain competitive with later-vintage comparables. Neighborhood renter concentration is substantial (renter-occupied share near the mid-40% range locally and roughly four-in-ten within a 3-mile radius), supporting a deep tenant base and steady turnover pipelines for professionally managed communities.
Within a 3-mile radius, population and households have grown and are projected to continue rising, with incomes trending upward as well. This points to a larger tenant base and supports occupancy stability over the medium term; based on commercial real estate analysis from WDSuite, these demographic currents underpin demand for well-maintained, mid-1980s garden properties like this one.
Safety indicators for the neighborhood sit below national medians, with violent and property offense rates ranking in lower national percentiles. Within the San Diego metro, the area tracks around the middle of the pack, so investors should plan for standard security measures and community engagement to support resident comfort.
Recent trend data from WDSuite points to a year-over-year decline in property offenses locally, an encouraging directional signal. Owners can evaluate lighting, access controls, and partnerships with local services as part of operational best practices rather than extraordinary mitigation.
Nearby employment is anchored by distribution, defense/aerospace, and major corporate offices, which broadens the renter pool and shortens commutes for residents. Key nodes include Sysco, L-3 Telemetry & RF Products, Qualcomm, Sempra Energy, and Celgene.
- Sysco — food distribution (8.7 miles)
- L-3 Telemetry & RF Products — defense & aerospace offices (11.5 miles)
- Qualcomm — telecommunications R&D and offices (15.1 miles) — HQ
- Sempra Energy — utilities & corporate services (15.8 miles) — HQ
- Celgene Corporation — biopharma offices (15.9 miles)
This 94-unit 1985 community in Lakeside benefits from strong occupancy at the neighborhood level and a sizable renter base, with home values elevated relative to national norms — factors that tend to reinforce reliance on multifamily housing and support lease retention. Within a 3-mile radius, population and household counts are expanding alongside rising incomes, pointing to renter pool expansion and stability in day-to-day operations.
The 1985 vintage is older than much of the surrounding stock, creating clear value-add potential through interior refreshes and targeted system upgrades to enhance competitive positioning against 1990s-and-newer assets. According to CRE market data from WDSuite, local rent levels and occupancy trends remain favorable versus broader U.S. benchmarks, suggesting scope for disciplined revenue management while monitoring affordability pressure and amenity expectations.
- High neighborhood occupancy and solid renter concentration support leasing stability
- Inner-suburban location with access to major employment nodes across East and Central San Diego
- 1985 vintage offers value-add upside via renovations and modernization
- Demographic growth within 3 miles underpins a larger tenant base and steady demand
- Risks: below-national safety percentiles and limited immediate lifestyle amenities may require thoughtful operations and resident programming