| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 24th | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 31 N Highland Ave, National City, CA, 91950, US |
| Region / Metro | National City |
| Year of Construction | 1991 |
| Units | 44 |
| Transaction Date | 2021-08-26 |
| Transaction Price | $10,888,000 |
| Buyer | GRAND AVENUE EL MONTE LP |
| Seller | MF PANDA NR OWNER CA LP |
31 N Highland Ave National City Multifamily Investment
Neighborhood fundamentals point to steady renter demand and high occupancy, according to WDSuite’s CRE market data, with this location benefiting from strong amenity access across the San Diego metro. Investors should evaluate the asset’s positioning for retention and leasing in a high-cost ownership market.
Located in National City within the San Diego - Chula Vista - Carlsbad metro, the neighborhood posts a B- rating and is competitive among 621 metro neighborhoods (ranked 361 of 621). Amenity access is a clear strength: restaurants and groceries are both in the top decile nationally (restaurants 99th percentile; groceries 98th), with cafes also strong (92nd percentile). Limited park and childcare density suggest fewer family-oriented amenities immediately nearby, so properties may lean more toward workforce renters seeking convenience and transit access.
Neighborhood occupancy is elevated at 97.7% and sits in the 88th percentile nationally, with a metro rank of 153 of 621, supporting expectations for leasing stability through cycles. Median contract rents in the neighborhood have risen over the last five years, and the area’s renter-occupied share is high (about two-thirds), indicating a deep tenant base for multifamily assets. These occupancy and tenure signals reflect neighborhood conditions, not property-level performance.
The property’s 1991 vintage is newer than the neighborhood’s average construction year (1971). That relative youth can help competitiveness versus older stock, though investors should still underwrite aging systems and targeted modernization to meet current renter expectations.
Within a 3-mile radius, demographic statistics from WDSuite show modest population contraction in recent years alongside an increase in household counts, implying smaller average household sizes and a steady expansion of the renter pool. Forward-looking estimates point to continued household growth by 2028, which supports multifamily demand, even as the overall population may drift lower. Elevated home values relative to incomes in the neighborhood (high national percentile for value-to-income) further reinforce reliance on rental housing and can support retention and pricing power for well-managed assets.
Safety indicators for the neighborhood are mixed and should be assessed as part of asset management planning. The area ranks 278 of 621 metro neighborhoods on crime (below the metro middle), and national comparisons place the neighborhood in the lower third for safety overall. Recent trends show property offenses easing year over year, while violent offenses have increased, indicating uneven momentum across categories.
For investors, this suggests a focus on on-site operations that support resident comfort (lighting, access control, and community coordination) and careful underwriting of security-related operating expenses. Comparisons should be made against similar San Diego submarkets and nearby competitive sets rather than block-level assumptions.
Proximity to major employers such as Sempra Energy, L-3 Telemetry & RF Products, Celgene Corporation, and Qualcomm supports a sizable workforce renter base and commute convenience that can aid leasing and retention.
- Sempra Energy — energy utility (3.7 miles)
- Sempra Energy — energy utility (4.3 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (9.6 miles)
- Celgene Corporation — biotech (15.2 miles)
- Qualcomm — semiconductors (15.6 miles) — HQ
31 N Highland Ave offers a workforce-oriented location with high neighborhood occupancy and strong amenity access. The renter-occupied share in the surrounding area is substantial, indicating deep demand for multifamily units and a broad tenant base. Elevated ownership costs in the neighborhood context tend to sustain renter reliance on apartments, which can support lease retention and pricing. According to CRE market data from WDSuite, neighborhood occupancy trends are above many metro peers, reinforcing the case for stable operations.
Built in 1991, the asset is newer than much of the nearby housing stock, which can be advantageous versus older competitors. Within a 3-mile radius, household counts have grown even as population edged down, pointing to smaller household sizes and a renter pool that continues to expand—dynamics that can underpin leasing. Investors should still plan for selective capital to modernize finishes and systems, and consider neighborhood safety and limited family-oriented amenities when positioning the asset.
- Elevated neighborhood occupancy supports leasing stability across cycles
- High renter-occupied share implies depth of tenant demand
- 1991 construction offers competitive positioning versus older local stock with targeted value-add potential
- Amenity-rich urban setting drives convenience for workforce renters
- Risks: below-average safety metrics and limited nearby parks/childcare warrant operational focus