| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 27th | Poor |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 838 Palm Ave, National City, CA, 91950, US |
| Region / Metro | National City |
| Year of Construction | 2013 |
| Units | 26 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
838 Palm Ave National City 26-Unit Multifamily
Newer-vintage units in a renter-heavy urban core support steady leasing and retention, according to WDSuite’s CRE market data. Neighborhood fundamentals point to durable demand drivers rather than outsized growth bets.
Located in National City’s Urban Core, the property sits amid dense retail and daily-needs amenities that reduce car dependence and support resident retention. Neighborhood amenity access is strong by national standards, with cafe and grocery density placing in the top tier nationwide, and pharmacy access well above average. The tradeoff is limited park acreage in the immediate area.
For investors focused on occupancy stability, the neighborhood’s overall occupancy trends sit near the metro median, while renter-occupied housing is high for the region (measured at the neighborhood level), indicating a deep tenant base for multifamily. Median contract rents in the neighborhood trail high-cost coastal submarkets but have posted multi-year growth, which can aid renewal capture without relying solely on new lease premiums.
Within a 3-mile radius, household counts have grown even as population has edged lower, suggesting smaller household sizes and continued demand for professionally managed rentals. Forecasts point to further increases in household counts and incomes, expanding the qualified renter pool and supporting lease-up durability.
Home values in the neighborhood rank in a high national percentile, and the value-to-income profile is elevated for the metro. In practice, this high-cost ownership market reinforces reliance on rental options, which can support pricing power and reduce move-outs to homeownership, while still requiring attentive lease management to monitor affordability pressure.
The average neighborhood school rating trends below national norms, which can matter for larger units targeting family renters; however, proximity to jobs and services remains a compensating strength for occupancy and lease retention.
Safety indicators for the neighborhood trend below both metro and national averages, with crime measures sitting in lower national percentiles. Within the San Diego–Chula Vista–Carlsbad metro’s 621 neighborhoods, this area does not rank among the stronger performers on safety and should be underwritten with prudent security, lighting, and access-control assumptions.
Investors typically mitigate these factors through operational practices and by emphasizing proximity-to-employment and services in marketing to sustain occupancy. Monitoring trend direction is advisable, as localized shifts can materially influence leasing velocity and renewal behavior.
Nearby employers span energy, defense and aerospace, biopharma, and wireless technology—diverse industries that widen the renter base and support commute-convenient housing demand for this neighborhood.
- Sempra Energy — energy (4.4 miles)
- Sempra Energy — energy (5.1 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (10.2 miles)
- Celgene Corporation — biopharma (15.8 miles)
- Qualcomm — wireless technology (16.2 miles) — HQ
Built in 2013, the asset is materially newer than the neighborhood’s 1980s-era average, offering competitive positioning versus older stock while keeping potential value-add avenues open through selective modernization and amenity refreshes. The neighborhood’s renter concentration is high and occupancy trends sit around the metro median, pointing to a deep tenant base and stable day-to-day operations. According to CRE market data from WDSuite, elevated ownership costs in the area tend to sustain rental demand and support pricing power when paired with conscientious affordability management.
Within a 3-mile radius, household counts have increased and are projected to expand further, even as average household size edges lower—conditions that typically broaden the renter pool and support occupancy stability. Forward-looking income growth in the trade area also improves qualification depth for Class B/B+ product, while neighborhood amenity density enhances retention despite limited park access and below-average school ratings.
- 2013 vintage enhances competitiveness versus older neighborhood stock with room for targeted upgrades
- High renter-occupied share and near-metro-median occupancy support steady leasing and renewals
- High-cost ownership market reinforces rental demand and potential pricing power
- 3-mile household growth and rising incomes expand the qualified renter base
- Risks: below-average safety metrics, limited park space, and school ratings warrant conservative underwriting