| 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 | 2011-08-05 |
| Transaction Price | $225,000 |
| Buyer | JBJ INVESTORS LLC |
| Seller | HACIENDA AT 12625 HIGH BLUFF DRIVE LLC |
838 Palm Ave, National City CA Multifamily Investment
Urban Core amenities and a high renter concentration in the surrounding neighborhood point to durable leasing fundamentals, according to WDSuite’s CRE market data. Neighborhood metrics indicate demand depth that can support occupancy stability for well-operated assets.
Located in National City’s Urban Core, the property benefits from a dense amenity base: neighborhood rankings place cafes and groceries among the most competitive in the San Diego-Chula Vista-Carlsbad metro (e.g., top-tier local ranks with national percentiles near the top of the distribution). This concentration of daily-needs retail and food options supports resident convenience and can aid retention.
Neighborhood housing indicators sit around the national middle on occupancy, while renter-occupied units account for a large share of housing stock. A high renter concentration (measured at the neighborhood level) typically indicates a broad tenant base for multifamily and reduces lease-up risk relative to more owner-centric areas. Median rent levels sit below many coastal peer submarkets on a rent-to-income basis, which can support renewal rates while moderating near-term pricing power.
Education and open-space access are mixed: average school ratings in the neighborhood track below national norms, and park access ranks low within the metro. Investors should calibrate marketing and amenity programming accordingly to appeal to value- and convenience-oriented renters who prioritize proximity to jobs and daily services.
Asset vintage is an advantage here: built in 2013 versus an average neighborhood construction year in the early 1980s, the property competes against older stock. That positioning can lower immediate capital needs and support rent attainment relative to nearby legacy assets, though periodic system upgrades and modernization should be planned over the hold.
Demographics aggregated within a 3-mile radius show households expanding even as overall population trends soften, indicating smaller household sizes and a potential renter pool realignment rather than a contraction in demand. Forward-looking estimates point to further household growth and rising incomes, which generally supports multifamily absorption and occupancy stability in comparable urban neighborhoods.
Safety indicators at the neighborhood level are weaker than metro and national benchmarks, with ranks placing the area below the metro median among 621 San Diego-Chula Vista-Carlsbad neighborhoods and in lower national percentiles. Recent year-over-year changes indicate elevated violent and property offense rates, so underwriting should reflect conservative assumptions on security measures and operating expenses.
For investors, the takeaway is to balance strong amenity access and renter demand with pragmatic risk management: enhanced lighting, controlled access, and resident engagement can help support retention and protect NOI in locations where reported incidents trend above broader regional norms.
Proximity to regional employers supports workforce housing demand and commute convenience, notably in energy, defense/aerospace, biotech, and technology—sectors represented in the bullets below.
- Sempra Energy — energy (5.0 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace offices (10.2 miles)
- Celgene Corporation — biotech (15.8 miles)
- Qualcomm — technology (16.2 miles) — HQ
- Sysco — foodservice distribution (17.9 miles)
838 Palm Ave offers a 2013-vintage, 26-unit multifamily asset positioned against older neighborhood stock, with strong nearby retail and daily-needs density supporting resident convenience. A high share of renter-occupied housing at the neighborhood level suggests depth in the tenant base, while home values in the area remain elevated relative to incomes—factors that can reinforce reliance on multifamily rentals. Based on CRE market data from WDSuite, neighborhood occupancy trends sit around national mid-range, with rent-to-income dynamics indicating retention-friendly affordability rather than outsized short-term pricing power.
Household counts within a 3-mile radius have grown and are projected to expand further alongside rising incomes, supporting a larger tenant base and potential for steady absorption. Risks include below-average school ratings, limited park access, and weaker safety metrics versus metro and national benchmarks; these can be mitigated through targeted capital plans, amenity programming, and security measures.
- 2013 vintage competes well versus older nearby stock, supporting rent attainment and moderated capex needs
- High neighborhood renter concentration indicates demand depth and reduced lease-up risk
- Dense cafes, groceries, and services underpin retention and day-to-day livability
- Household growth and rising incomes within 3 miles support occupancy stability and absorption
- Risks: weaker safety metrics, lower school ratings, and limited parks require prudent operating and capital strategies