| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 27th | Poor |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 45 E 12th St, National City, CA, 91950, US |
| Region / Metro | National City |
| Year of Construction | 2012 |
| Units | 61 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
45 E 12th St, National City Multifamily Opportunity
Renter demand is supported by a high neighborhood renter concentration and elevated ownership costs, while occupancy trends sit near broader norms, according to WDSuite’s CRE market data.
Situated in National City’s Urban Core, the property benefits from a dense amenity base that supports day-to-day convenience and leasing velocity. Cafes, restaurants, groceries, and pharmacies are concentrated at levels that are competitive among San Diego–Chula Vista–Carlsbad neighborhoods and land in the top percentiles nationally, helping sustain foot traffic and service access that renters value.
Neighborhood multifamily occupancy is around the national midpoint, but the renter-occupied share is high, indicating a deep tenant pool and steady leasing prospects for professionally managed assets. Median construction year in the neighborhood skews older than the subject’s 2012 vintage, positioning newer assets with a relative edge in curb appeal and near-term CapEx visibility.
Within a 3-mile radius, households have risen even as overall population has edged down, pointing to smaller average household sizes and a broader base of households entering the rental market—factors that can support occupancy stability and absorption. Looking ahead, forecasts indicate further growth in household counts through the next cycle, which should expand the local renter pool and underpin demand for well-located units.
Ownership remains a high-cost proposition locally relative to incomes, which tends to sustain reliance on multifamily housing. At the same time, rent-to-income levels suggest manageable affordability pressure for many renters, a positive for lease retention and collections. Notable trade-offs include limited park access within the neighborhood and below-average public school ratings; both are typical considerations in urban cores and should be weighed in positioning and resident experience strategy.
Safety conditions in the immediate neighborhood trend weaker than many parts of the San Diego–Chula Vista–Carlsbad metro, with crime ranked 561 out of 621 metro neighborhoods. Compared with neighborhoods nationwide, the area sits in lower safety percentiles, indicating investors should underwrite to enhanced property management and security measures appropriate for an urban setting.
Year-over-year estimates also indicate recent increases in both violent and property offenses locally. For investors, this argues for practical mitigants—lighting, access control, and partnership with experienced operators—along with careful comps selection to calibrate achievable rents and retention assumptions.
Proximity to major employers in downtown and central San Diego supports a broad workforce renter base and commute convenience for residents, notably tied to energy, telecom, life sciences, and defense-related offices: Sempra Energy, L-3 Telemetry & RF Products, Celgene, and Qualcomm.
- Sempra Energy — energy (4.0 miles)
- Sempra Energy — energy (4.7 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace offices (10.5 miles)
- Celgene Corporation — biopharma (15.9 miles)
- Qualcomm — telecommunications & semiconductor (16.4 miles) — HQ
Delivered in 2012 with 61 units, the asset is newer than much of the surrounding housing stock, offering competitive positioning versus older buildings and clearer near-term CapEx planning. A high neighborhood renter concentration and an ownership market characterized by elevated home values help sustain depth of demand for multifamily units. According to CRE market data from WDSuite, neighborhood occupancy trends sit around broader averages, while amenity density is a local strength that supports leasing and retention.
Within a 3-mile radius, households have grown and are projected to expand further, implying a larger tenant base even as overall population trends remain mixed. Forecast rent levels point to continued pricing power for well-managed assets, though investors should balance this with pragmatic assumptions around safety, school quality, and resident experience investments typical for urban-core locations.
- 2012 vintage offers competitive positioning versus older local stock and clearer near-term CapEx visibility
- High renter concentration and elevated ownership costs reinforce multifamily demand depth
- Dense amenity environment supports leasing velocity and retention
- 3-mile household growth and projections suggest a larger renter pool over the next cycle
- Risks: below-average safety and school ratings; plan for security, resident services, and realistic rent targets