| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 46th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9656 Winter Gardens Blvd, Lakeside, CA, 92040, US |
| Region / Metro | Lakeside |
| Year of Construction | 1988 |
| Units | 59 |
| Transaction Date | 2010-08-12 |
| Transaction Price | $676,500 |
| Buyer | NORTH STAR HOMES LP |
| Seller | GOLDEN SILVERCREST LLC |
9656 Winter Gardens Blvd Lakeside Multifamily Investment
Neighborhood fundamentals point to durable renter demand and high occupancy stability, according to WDSuite’s CRE market data. This submarket’s renter concentration and ownership cost backdrop support consistent leasing while leaving room for targeted value-add execution.
Positioned in Lakeside within the San Diego-Chula Vista-Carlsbad metro, the neighborhood is rated B+ and ranks 217 out of 621, making it competitive among San Diego-Chula Vista-Carlsbad neighborhoods. For investors, the key signal is neighborhood occupancy measured at the neighborhood level, which is reported as exceptionally tight and supports income stability when underwriting.
Everyday convenience is strong: grocery and pharmacy access rank among the metro’s better concentrations and sit in the top quartile nationally, while restaurant density is similarly elevated. By contrast, cafes and park space are limited, suggesting residents rely more on nearby retail corridors than on green space or café-centric amenities. Average school ratings are solid (top quartile nationally), which can aid retention for family renters.
With a renter-occupied share of housing units at the neighborhood level measured at 66.9%, the tenant base is deep relative to many San Diego sub-areas, bolstering multifamily demand and supporting leasing velocity. Median home values in the neighborhood are elevated versus national norms, which tends to sustain reliance on multifamily housing and can reinforce pricing power when managed alongside rent-to-income considerations.
The property’s 1988 vintage is newer than the neighborhood’s average construction year (1971). That positioning can be competitively favorable versus older stock, while prudent capital planning for aging systems and selective renovations can capture modernization upside without the full repositioning burden typical of 1960s/1970s assets.
Demographic statistics aggregated within a 3-mile radius indicate recent population and household growth with further expansion forecast, pointing to a larger tenant base and supportive conditions for occupancy and absorption over the medium term.
Neighborhood safety trends are mixed and should be underwritten conservatively. Compared with neighborhoods nationwide, overall safety indicators align closer to the lower end of national percentiles, while within the metro the area ranks 370 out of 621. Property-related incidents show a recent year-over-year decline, whereas violent incident estimates rose over the same period. For investors, this suggests emphasis on on-site security practices, lighting, and resident screening to support retention and asset performance relative to regional peers.
Nearby employers provide a diverse employment base that supports renter demand and commute convenience, notably in food distribution, defense & aerospace, wireless technology, utilities, and biopharma.
- Sysco — food distribution (9.1 miles)
- L-3 Telemetry & RF Products — defense & aerospace (12.0 miles)
- Qualcomm — wireless & semiconductors (15.6 miles) — HQ
- Sempra Energy — utilities (16.3 miles) — HQ
- Celgene Corporation — biopharma (16.5 miles)
9656 Winter Gardens Blvd is a 59-unit asset with larger average floorplans for the area, supporting family and long-term renters. Neighborhood-level occupancy is extremely tight and renter concentration is high, reinforcing income durability; according to CRE market data from WDSuite, the submarket’s ownership cost context further supports reliance on multifamily housing. The 1988 vintage is newer than the neighborhood average, suggesting competitive positioning versus older stock and a clear path for targeted upgrades to capture rent premiums.
Within a 3-mile radius, recent gains in population and households — with additional growth forecast — point to renter pool expansion that can support leasing and retention. Elevated neighborhood home values relative to national norms sustain rental demand, while rent-to-income dynamics warrant disciplined renewal strategies and amenity calibration to protect occupancy and cash flow.
- Tight neighborhood occupancy and high renter concentration support income stability
- 1988 vintage offers modernization and value-add potential versus older local stock
- 3-mile population and household growth expand the tenant base and leasing depth
- Elevated home values reinforce sustained multifamily demand and pricing power
- Risk: Below-average safety indicators and rent-to-income pressure require active management