| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 24th | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 401 I Ave, National City, CA, 91950, US |
| Region / Metro | National City |
| Year of Construction | 2000 |
| Units | 21 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
401 I Ave, National City CA Multifamily Investment
Neighborhood multifamily occupancy is 97.7%, indicating durable renter demand in this Urban Core pocket, according to WDSuite’s CRE market data. Metrics cited refer to the neighborhood, not the property.
Located in National City within the San Diego-Chula Vista-Carlsbad metro, the neighborhood carries a B- rating (ranked 361 of 621 metro neighborhoods). Investors will note strong utilization of existing stock: neighborhood multifamily occupancy is 97.7% and the share of renter-occupied housing units is 65.7%, signaling a deep tenant base and historically tight operations relative to many U.S. neighborhoods.
Everyday convenience is a clear strength. Grocery access sits in the 98th percentile nationally and restaurant density is in the 99th percentile, while cafes are in the 92nd percentile. Park and childcare densities are limited within the immediate area, which may modestly temper family-oriented appeal but does not diminish the location’s day-to-day amenity coverage for working renters.
Rents benchmark in the upper tiers nationally (median contract rent in the 78th percentile) and have grown over the past five years, consistent with San Diego’s broader pricing power. At the same time, the neighborhood’s rent-to-income ratio is toward the higher side (8th percentile nationally, indicating more affordability pressure), suggesting prudent lease management and renewals will matter for retention. Elevated home values and a high value-to-income ratio (92nd percentile nationally) point to a high-cost ownership market that typically sustains rental reliance and supports occupancy stability.
Within a 3-mile radius, demographic data indicate a slight population decline over the last five years alongside a net increase in households and smaller average household sizes. Looking ahead, projections show further gains in household counts even as population trends flatten, which can expand the renter pool and support leasing fundamentals. The property’s 2000 construction is newer than the neighborhood’s average vintage (1971), positioning it as relatively competitive versus older stock while still offering scope for targeted modernization to enhance unit appeal and rentability.
Safety indicators are mixed when viewed against national and metro benchmarks. Compared with neighborhoods nationwide, the area sits around the lower-third for safety (overall crime near the 33rd national percentile), implying investors should underwrite with conservative assumptions for security and common-area management.
Trends provide nuance: estimated property offenses declined over the past year, while estimated violent offenses ticked up. Within the San Diego-Chula Vista-Carlsbad metro (621 neighborhoods), the area’s crime positioning is mid-pack rather than outlier. Framing safety comparatively and tracking recent trendlines can help inform operating plans, lighting, access control, and community engagement strategies.
The employment base includes utilities, aerospace/defense, life sciences, technology, and foodservice distribution, supporting workforce housing demand and commute convenience for renters.
- Sempra Energy — utilities (4.6 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace offices (10.0 miles)
- Celgene Corporation — life sciences (15.5 miles)
- Qualcomm — technology (15.9 miles) — HQ
- Sysco — foodservice distribution (17.8 miles)
401 I Ave offers exposure to a tight South Bay rental pocket with high neighborhood occupancy (97.7%) and a substantial share of renter-occupied units. Elevated ownership costs relative to incomes (nationally high value-to-income standing) tend to reinforce reliance on multifamily, supporting leasing stability. The 2000 vintage is newer than the area’s average stock, giving it a competitive edge versus older buildings, with potential to capture further upside through thoughtful modernization. According to CRE market data from WDSuite, occupancy performance ranks among the top quartile of the metro’s 621 neighborhoods, aligning with an amenities-rich Urban Core location.
Within a 3-mile radius, recent years show modest population softening but growth in household counts and smaller household sizes, which can translate into a larger renter base over time. Rent levels are in higher national tiers while rent-to-income indicators suggest some affordability pressure, so disciplined renewals and resident experience should help sustain retention. Overall, the asset’s location, renter depth, and relative vintage support a long-term, operations-focused thesis with measured value-add potential.
- Tight neighborhood occupancy and deep renter base support leasing stability
- Newer 2000 construction versus local average positions asset competitively
- High-cost ownership market underpins rental demand and pricing power
- Amenities-rich Urban Core setting aids day-to-day convenience for residents
- Risks: affordability pressure and mixed safety signals warrant conservative operations