| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 27th | Poor |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1535 E Plaza Blvd, National City, CA, 91950, US |
| Region / Metro | National City |
| Year of Construction | 2008 |
| Units | 80 |
| Transaction Date | 2001-11-06 |
| Transaction Price | $2,250,000 |
| Buyer | TAIGO INC |
| Seller | GREAT CITY INVESTMENT INC |
1535 E Plaza Blvd National City Multifamily Opportunity
Renter demand is deep in this Urban Core pocket, with neighborhood occupancy near the metro median and a high share of renter-occupied units, according to WDSuite’s CRE market data. Built 2008, the asset’s vintage offers competitive positioning versus older local stock.
Located in National City within the San Diego-Chula Vista-Carlsbad metro, the neighborhood rates B and ranks 239 out of 621 metro neighborhoods, placing it competitive among San Diego-area neighborhoods. Amenity access is a clear strength: grocery and cafe density sit in the top quartile nationally, supporting daily convenience and walkable lifestyle drivers that help leasing and retention.
The local housing fabric skews renter-occupied, with renter concentration well above metro norms and in the upper national percentiles. For investors, this indicates a deeper tenant base and potential demand stability for multifamily units. Neighborhood occupancy trends sit around the metro median, signaling steady, if competitive, leasing conditions relative to the broader region.
Within a 3-mile radius, households have grown even as population edged down over the past five years, and projections show households increasing further by 2028 while average household size trends slightly lower. For multifamily, that combination points to a larger renter pool over time and support for occupancy as more, smaller households seek professionally managed apartments. Median home values are elevated versus national benchmarks and value-to-income ratios are in the upper percentiles, which typically reinforces renter reliance on multifamily housing and can support pricing power when managed carefully.
Vintage considerations matter: with an average neighborhood construction year around the early 1980s, a 2008 build should compare favorably to older product on systems and finishes, while still warranting mid-life capital planning to sustain competitive positioning and reduce near-term CapEx surprises.
Safety metrics here lag metro and national benchmarks. The neighborhood’s crime rank is 561 out of 621 metro neighborhoods, placing it below the metro average, and national safety percentiles fall toward the lower end. Recent one-year estimates also indicate increases in both violent and property offense rates. Investors should underwrite with prudent security, lighting, and operational protocols, and consider how on-site management and resident screening can mitigate risk relative to comparable Urban Core locations.
Nearby employers span energy, defense and aerospace, biotech, and semiconductors, supporting a diverse employment base and commute convenience that can translate into steady renter demand. Key nodes include Sempra Energy, L-3 Telemetry & RF Products, Celgene, and Qualcomm.
- Sempra Energy — energy (4.5 miles)
- Sempra Energy — energy (5.1 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (10.3 miles)
- Celgene Corporation — biotech (16.0 miles)
- Qualcomm — semiconductors & wireless (16.3 miles) — HQ
1535 E Plaza Blvd is an 80-unit, 2008-vintage property positioned in a renter-heavy Urban Core neighborhood where amenity density is a notable advantage. Elevated ownership costs in the area and a renter-occupied housing share in the upper national percentiles underpin depth of tenant demand, while neighborhood occupancy tracks near the metro median. Based on CRE market data from WDSuite, this submarket’s strengths in daily conveniences (groceries, cafes, pharmacies) support retention and leasing velocity compared with more car-dependent pockets.
Demographic patterns within 3 miles show households increasing historically and projected to rise further by 2028, even as population trends modestly lower and household size edges down—factors that typically expand the renter pool. The 2008 vintage can outperform older local stock yet still benefits from targeted mid-life renovations and systems upgrades to maintain competitive rents and reduce ongoing CapEx risk.
- Renter-heavy neighborhood and elevated ownership costs support durable multifamily demand
- Amenity-rich Urban Core location aids leasing and retention versus car-dependent areas
- 2008 vintage offers competitive positioning with room for focused value-add and systems upgrades
- Household growth within 3 miles points to a larger tenant base and occupancy stability
- Risks: safety metrics trail metro averages; prudent security/ops and underwriting are warranted