| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Poor |
| Demographics | 28th | Poor |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3411 Washington St, Lemon Grove, CA, 91945, US |
| Region / Metro | Lemon Grove |
| Year of Construction | 1988 |
| Units | 96 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3411 Washington St Lemon Grove Multifamily Investment
This 96-unit property built in 1988 operates in a neighborhood with 93.2% occupancy and strong rental demand fundamentals. The area shows improving safety trends with property crime declining 32.2% year-over-year according to CRE market data from WDSuite.
The Lemon Grove neighborhood demonstrates solid rental market fundamentals with 93.2% occupancy and a 38.5% rental share among housing units, ranking in the top quartile nationally for rental concentration. Contract rents average $1,649 with 16.9% growth over five years, indicating sustained demand despite the area's C rating among 621 metro neighborhoods.
Built in 1988, this property aligns with the neighborhood's 1959 average construction year, potentially offering value-add opportunities through strategic renovations and unit improvements. The area's demographics within a 3-mile radius show stability with 164,070 residents and moderate household income growth of 38.6% over five years to $85,080 median.
Essential amenities support tenant retention with 2.78 grocery stores per square mile ranking in the 88th percentile nationally, plus 1.39 childcare facilities per square mile. The neighborhood maintains good restaurant density at 6.96 per square mile, though it lacks cafes and parks. Home values at $672,281 median with 63.6% five-year appreciation reinforce rental demand by keeping ownership costs elevated relative to rental options.
Safety metrics show mixed but improving trends for the neighborhood. Property crime rates declined 32.2% year-over-year, ranking in the 75th percentile nationally for improvement, while violent crime decreased 6.6%. Current property offense rates of 2,278 per 100,000 residents place the area in the bottom quartile among 621 metro neighborhoods, though the significant downward trend suggests ongoing stabilization efforts are taking effect.
The San Diego metro employment base provides diverse opportunities within commuting distance, anchored by major corporate headquarters and regional offices that support steady renter demand.
- Sempra Energy — utility services (8.2 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (8.6 miles)
- Sysco — food distribution (13.5 miles)
- Qualcomm — technology (14.7 miles) — HQ
- Celgene Corporation — biotechnology (14.8 miles)
This 96-unit property offers stable cash flow potential with neighborhood occupancy at 93.2% and strong rental demand supported by elevated ownership costs. Built in 1988, the asset presents value-add opportunities through unit renovations and common area improvements that could capture additional rent growth in a market showing 16.9% five-year rent appreciation.
Demographics within a 3-mile radius support long-term demand with 164,070 residents and projected household growth. The location benefits from proximity to major San Diego employers including Sempra Energy and Qualcomm headquarters, providing workforce housing opportunities. Commercial real estate analysis indicates the neighborhood's improving safety trends and essential amenity access enhance tenant retention prospects.
- Strong occupancy fundamentals at 93.2% with high rental concentration
- Value-add potential through renovations given 1988 construction year
- Proximity to major employers including Fortune 500 headquarters
- Elevated ownership costs at $672,281 median home value support rental demand
- Risk: Property crime rates remain above metro averages despite improvement trends