| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 35th | Poor |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8058 Golden Ave, Lemon Grove, CA, 91945, US |
| Region / Metro | Lemon Grove |
| Year of Construction | 1986 |
| Units | 25 |
| Transaction Date | 2016-04-26 |
| Transaction Price | $3,300,000 |
| Buyer | IMMOBILIER FUND D LLC |
| Seller | LEMON GROVE INVESTMENT GROUP LLC |
8058 Golden Ave, Lemon Grove Multifamily Investment
Neighborhood occupancy is strong and renter demand is supported by a high-cost ownership market, according to WDSuite’s CRE market data. Expect steady leasing fundamentals with prudent attention to affordability and value-add positioning.
Located in Lemon Grove within the San Diego–Chula Vista–Carlsbad metro, the property sits in an Inner Suburb neighborhood rated B, with occupancy near the top quartile nationally and competitive among 621 metro neighborhoods. The area’s average net operating income per unit also ranks high nationally, signaling durable rent collections and relatively strong operating performance for comparable assets, based on CRE market data from WDSuite.
Daily convenience is a relative strength: the neighborhood scores competitively for amenities within the metro, with restaurants, groceries, and pharmacies indexed in the upper national percentiles. In contrast, cafes and childcare options are thinner locally, which investors should consider when assessing resident experience and marketing.
Tenure patterns point to a balanced base of renter-occupied and owner-occupied housing units in the surrounding area, supporting depth for multifamily demand rather than reliance on a single segment. Within a 3-mile radius, households have grown in recent years and are projected to increase further, indicating a larger tenant base over the medium term. Population growth is modest, but household expansion and smaller average household sizes can still underpin multifamily absorption and support occupancy stability.
Ownership costs are elevated relative to incomes (high value-to-income nationally), which tends to sustain reliance on rental options and helps pricing power for well-positioned units. At the same time, local rent-to-income levels suggest affordability pressure that warrants careful lease management and amenity-value alignment to support retention.
Safety indicators are below national benchmarks, and the neighborhood ranks below the metro median for safety compared with 621 San Diego–Chula Vista–Carlsbad neighborhoods. Investors should underwrite with prudent assumptions around security measures and potential operating practices that enhance resident comfort.
Recent trends show year-over-year declines in both violent and property offense estimates, which is a constructive directional signal. Framing risk in comparative terms rather than block-level precision, underwriting should reflect that the area remains less safe than many neighborhoods nationwide while monitoring the improving trend.
Nearby corporate nodes provide diverse white- and blue-collar employment that supports renter demand and retention, notably in energy, aerospace/defense, food distribution, and wireless technology.
- Sempra Energy — energy (8.2 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace offices (8.5 miles)
- Sysco — food distribution (13.5 miles)
- Qualcomm — wireless technology (14.6 miles) — HQ
This 1986-vintage, 25-unit asset offers stable occupancy foundations in an Inner Suburb location where neighborhood leasing metrics are competitive versus the metro and in the upper tiers nationally. The mid-1980s construction suggests potential value-add via unit modernization and systems updates, while compact average unit sizes can appeal to cost-conscious renters if positioned thoughtfully.
High ownership costs relative to income reinforce multifamily demand, and household growth within a 3-mile radius points to a gradually expanding renter pool. According to CRE market data from WDSuite, neighborhood occupancy remains above many metro peers, supporting a case for steady cash flow if affordability, security, and resident experience are managed with discipline.
- Occupancy fundamentals competitive in the metro with strong neighborhood-level performance
- Elevated ownership costs support sustained renter demand and pricing power for well-positioned units
- 1986 vintage offers value-add potential through targeted renovations and system modernization
- Nearby employment nodes (energy, aerospace, distribution, wireless) underpin leasing and retention
- Risks: below-average safety metrics and rent-to-income pressure warrant conservative underwriting and retention-focused operations