| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 32nd | Poor |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1933 L Ave, National City, CA, 91950, US |
| Region / Metro | National City |
| Year of Construction | 2000 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1933 L Ave National City 32-Unit Multifamily
Neighborhood renter concentration is elevated and occupancy trends sit in the mid-90% range, indicating a broad tenant base and steady leasing, according to WDSuite’s CRE market data. Built in 2000, the asset competes well against older local stock while benefiting from strong regional employment access.
This Urban Core pocket of National City offers daily convenience and durable renter demand. Grocery access is strong and parks and restaurants are plentiful (competitive among San Diego-Chula Vista-Carlsbad neighborhoods out of 621), while cafes and pharmacies are limited nearby. Average public school ratings in the neighborhood skew low, which is important for operators targeting family-heavy unit mixes.
The neighborhood s housing stock skews older (average vintage 1972), and the subject property s 2000 construction provides relative competitiveness versus older buildings, with potential to modernize finishes and systems for further differentiation. Neighborhood occupancy is 93.9% and the share of housing units that are renter-occupied is high at 58.8%—both measured for the neighborhood, not this property—supporting depth in the tenant pool and day-one leasing stability.
Within a 3-mile radius, households have increased over the past five years and are projected to grow further, even as population edged lower—pointing to smaller household sizes and demographic shifts that can expand the renter pool and support occupancy stability. Median contract rents have risen in recent years, and a rent-to-income ratio near 0.22 suggests manageable affordability pressure that can aid retention and measured pricing power for professionally managed assets.
Elevated home values in this part of San Diego County and a high value-to-income relationship reinforce renter reliance on multifamily housing, which can underpin leasing velocity and reduce turnover risk during softer demand periods. These dynamics, based on CRE market data from WDSuite, position well-located, well-managed assets to capture steady demand while focusing on operational execution.
Safety indicators for the neighborhood trail both metro and national benchmarks. The area ranks 547 out of 621 metro neighborhoods on crime, and national percentiles indicate lower safety levels (violent and property crime percentiles are in the low teens compared with neighborhoods nationwide). Recent readings also show year-over-year increases in estimated offense rates. Investors should underwrite for prudent security measures and active property management, and compare trends to adjacent subareas when assessing risk-adjusted returns.
Proximity to major employers supports commute convenience and diversified renter demand, including energy/utilities, defense & aerospace, biotech, and wireless technology—specifically Sempra Energy, L-3 Telemetry & RF Products, Celgene, and Qualcomm.
- Sempra Energy — energy & utilities offices (4.8 miles)
- Sempra Energy — energy & utilities (5.5 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (10.9 miles)
- Celgene Corporation — biotech/pharma (16.5 miles)
- Qualcomm — wireless & semiconductors (16.9 miles) — HQ
1933 L Ave offers an institutional-feel profile for its submarket: a 2000-vintage, 32-unit asset positioned against an older neighborhood baseline, sustained by a high share of renter-occupied housing and steady neighborhood occupancy. Within a 3-mile radius, households are rising and projected to expand further despite a slight population dip, indicating smaller household sizes and a larger tenant base over time. Elevated home values in the area reinforce reliance on multifamily rentals, supporting retention and leasing consistency across cycles, based on CRE market data from WDSuite.
The location benefits from access to regional employment centers spanning utilities, defense, biotech, and technology, which underpins day-to-day demand. While school quality and safety indicators trail broader benchmarks, disciplined operations, targeted upgrades, and tenant screening can help maintain occupancy and stabilize cash flow.
- 2000 construction offers competitive positioning versus older neighborhood stock with upgrade potential
- High neighborhood renter concentration and mid-90% occupancy support leasing stability
- Within 3 miles, household growth and rising incomes expand the tenant base and support rent durability
- Elevated for-sale housing costs reinforce multifamily demand and retention
- Risks: below-average safety and school ratings require active management and prudent underwriting