| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 24th | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 203 Laurel Ave, National City, CA, 91950, US |
| Region / Metro | National City |
| Year of Construction | 1974 |
| Units | 86 |
| Transaction Date | 2021-08-26 |
| Transaction Price | $16,528,000 |
| Buyer | 203 LAUREL CA LP |
| Seller | 597 LAUREL LANE LLC |
203 Laurel Ave National City Multifamily Investment
This 86-unit property built in 1973 operates in a neighborhood with 97.7% occupancy and strong renter demand, with 65.7% of housing units occupied by renters according to CRE market data from WDSuite.
The National City neighborhood demonstrates solid rental fundamentals with occupancy at 97.7%, ranking in the top quartile nationally among neighborhoods. The area maintains a strong renter base with 65.7% of housing units occupied by renters, well above typical ownership-heavy markets. Median contract rents of $1,507 provide competitive positioning within the San Diego metro.
Demographics within the 3-mile radius show a population of 187,340 with household income growth of 47.7% over five years. The area attracts working families with an average household size of 3.6 and a substantial 29.9% of residents in the key 18-34 age demographic. Projections indicate household growth of 35.2% through 2028, expanding the potential renter pool and supporting multifamily demand.
The property's 1973 construction year aligns with the neighborhood average, presenting potential value-add opportunities for investors focused on renovations and unit upgrades. Amenity access supports tenant retention, with high restaurant density ranking in the 99th percentile nationally and grocery stores ranking in the 98th percentile. The neighborhood's urban core classification provides walkable access to daily necessities.
Home values averaging $589,840 with 64.8% growth over five years reinforce rental demand as elevated ownership costs keep households in the rental market. The rent-to-income ratio of 0.28 indicates manageable affordability for tenants while supporting lease retention and renewal rates.
Property crime rates in the neighborhood show a declining trend with a 10.5% decrease over the past year, indicating improving conditions. The area ranks in the middle tier among San Diego metro neighborhoods for overall crime metrics, with property offense rates of 757 per 100,000 residents.
Violent crime rates remain elevated at 421 per 100,000 residents, ranking lower among the 621 neighborhoods in the metro area. Investors should consider security enhancements and tenant screening protocols as part of their investment strategy while monitoring ongoing community safety initiatives.
The San Diego employment corridor provides stable workforce housing demand with major corporate offices and headquarters within commuting distance of the property.
- Sempra Energy — utilities and energy services (4.0 miles)
- Sempra Energy — utilities and energy services (4.6 miles) — HQ
- L-3 Telemetry & RF Products — defense and aerospace (9.8 miles)
- Qualcomm — technology and telecommunications (15.8 miles) — HQ
- Celgene Corporation — biotechnology and pharmaceuticals (15.4 miles)
This National City property offers investors access to a stable rental market with neighborhood-level occupancy at 97.7% and strong demographic fundamentals. The 1973 construction year presents value-add potential through unit renovations and common area improvements. Household growth projections of 35.2% through 2028 within the 3-mile radius support expanding renter demand, while elevated home values reinforce rental market participation over ownership transitions.
According to multifamily property research from WDSuite, the neighborhood's urban core location provides walkable amenity access that supports tenant retention. The substantial 65.7% renter occupancy rate indicates established rental demand patterns, while median rents of $1,507 offer competitive positioning within the broader San Diego market. The property's 86-unit scale provides operational efficiency while allowing for targeted capital improvements.
- High neighborhood occupancy at 97.7% indicates stable rental demand
- Projected 35.2% household growth through 2028 expands tenant base
- Value-add opportunity through renovations of 1973-vintage units
- Urban core location with 99th percentile restaurant and grocery access
- Risk consideration: Crime rates require security enhancements and screening protocols