| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 60th | Fair |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12323 Old Pomerado Rd, Poway, CA, 92064, US |
| Region / Metro | Poway |
| Year of Construction | 1977 |
| Units | 20 |
| Transaction Date | 2002-12-10 |
| Transaction Price | $2,130,000 |
| Buyer | LANGE WALDEN ALFRED |
| Seller | FOLEY PROPERTY ASSETS LLC |
12323 Old Pomerado Rd Poway Multifamily Investment
This 20-unit property built in 1977 sits in a stable inner suburb neighborhood with 97.9% occupancy rates and median household incomes of $147,843, according to CRE market data from WDSuite.
This Poway inner suburb neighborhood ranks in the top quartile nationally for housing fundamentals among 621 San Diego metro neighborhoods. The area maintains strong occupancy at 97.9%, significantly above national averages, with 46% of housing units serving rental tenants. Demographic data aggregated within a 3-mile radius shows a median household income of $147,843, supporting rental demand stability.
Built in 1977, this property predates the neighborhood's average construction year of 1998, presenting potential value-add opportunities through strategic capital improvements and unit renovations. The area's median home values of $755,081 reinforce rental demand, as elevated ownership costs sustain renter reliance on multifamily housing options.
Local amenities support tenant retention with above-average restaurant density and grocery access ranking in the 88th percentile nationally. School ratings average 3.0 out of 5, while the neighborhood demonstrates resilience with rent growth of 38.8% over five years. Projected household growth within the 3-mile radius indicates a 32.6% increase through 2028, expanding the potential tenant base.
Crime metrics show mixed trends for this Poway neighborhood. Property offense rates rank 439th among 621 San Diego metro neighborhoods, placing it in the lower tier for property crime. However, both property and violent crime rates declined year-over-year by 7.7% and 8.4% respectively, indicating improving conditions.
The neighborhood's overall crime national percentile of 32% suggests room for improvement compared to neighborhoods nationwide. Investors should monitor local security trends and consider property-level security enhancements as part of capital planning and tenant retention strategies.
The area benefits from proximity to major technology and corporate employers, providing workforce housing opportunities for professional tenants.
- Sysco — corporate offices (0.8 miles)
- Qualcomm — technology and telecommunications (7.9 miles)
- Qualcomm — technology headquarters (8.2 miles) — HQ
- L-3 Telemetry & RF Products — defense and aerospace (9.2 miles)
- Celgene Corporation — biotechnology (9.4 miles)
This 20-unit Poway property offers stable fundamentals in a neighborhood with 97.9% occupancy and strong demographic support. Built in 1977, the asset presents value-add potential through strategic renovations, particularly given the neighborhood's newer average construction year. Proximity to major employers like Qualcomm and Sysco supports professional tenant demand, while projected household growth of 32.6% through 2028 indicates expanding rental markets.
The area's elevated home values reinforce rental demand by sustaining renter reliance on multifamily housing. However, investors should factor crime metrics that rank below metro medians and plan appropriate security measures and property improvements to optimize tenant retention and rental performance.
- High neighborhood occupancy at 97.9% indicates stable rental demand
- Value-add opportunity with 1977 construction in newer neighborhood
- Strong employment base with Qualcomm headquarters nearby
- Projected 32.6% household growth supports tenant base expansion
- Crime metrics below metro average require security planning consideration