| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 61st | Fair |
| Amenities | 55th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 425 16th St, Ramona, CA, 92065, US |
| Region / Metro | Ramona |
| Year of Construction | 1978 |
| Units | 52 |
| Transaction Date | 2021-08-24 |
| Transaction Price | $9,705,500 |
| Buyer | MF PANDA NR OWNER CA LP |
| Seller | 639 SUN VALLEY LLC |
425 16th St, Ramona CA Multifamily Investment
Neighborhood occupancy has been notably high, supporting steady rent rolls for well-run assets, according to CRE market data from WDSuite. These figures reflect neighborhood conditions rather than the property and point to durable renter demand in suburban San Diego County.
Located in suburban Ramona within the San Diego–Chula Vista–Carlsbad metro, the neighborhood carries a B+ rating and ranks 195 out of 621 metro neighborhoods, placing it above the metro median and competitive for stabilized multifamily. Grocery and restaurant access is comparatively strong (both in the upper national percentiles), while parks and formal childcare options are more limited. Average school ratings are solid (around the upper national quartile), which can support retention among family renters.
Renter demand signals are favorable: the neighborhood’s occupancy is high and in the upper national percentiles, indicating tight supply and stable leasing conditions at the neighborhood level. Median contract rents in the area sit in the upper national range, and the rent-to-income ratio around the neighborhood suggests manageable affordability pressure relative to many coastal markets, supporting collections and renewal potential. Elevated home values in the neighborhood (well above national norms) indicate a high-cost ownership market, which tends to reinforce reliance on rental housing and can sustain multifamily demand.
Property vintage matters: this asset was constructed in 1978, while the neighborhood’s average construction year is 1992. The older vintage points to capital planning needs but also potential value-add opportunity via unit and system upgrades to compete effectively against newer stock.
Demographic statistics aggregated within a 3-mile radius show households have grown modestly in recent years with a projected increase ahead, alongside a gradual reduction in average household size. This combination generally expands the local renter pool and supports occupancy stability. The share of housing units that are renter-occupied in the 3-mile area is in the mid-to-high 30% range, indicating a meaningful—though not dominant—renter base that can support leasing for a 50+ unit community.
Neighborhood safety indicators trend weaker than national averages, with crime measures in the lower national percentiles and a metro rank that sits below the median among 621 San Diego metro neighborhoods. This context calls for standard risk management—such as strong property operations, lighting, and access controls—rather than block-level conclusions. Investors should monitor neighborhood trends over time and compare them with submarket-level patterns across the metro.
Regional employment anchors within commuting distance include foodservice distribution, wireless and semiconductors, defense and aerospace, biotech/pharma, and utilities—drivers that help support workforce housing demand and leasing stability for nearby multifamily assets.
- Sysco — foodservice distribution (12.2 miles)
- Qualcomm — wireless & semiconductors (20.8 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (20.9 miles)
- Celgene Corporation — biotech/pharma (22.1 miles)
- Sempra Energy — utilities (27.4 miles) — HQ
425 16th St offers exposure to a suburban San Diego County neighborhood with tight multifamily conditions and a renter base supported by strong regional employers. Neighborhood occupancy trends are high and in the upper national percentiles, and elevated local home values indicate a high-cost ownership market that tends to sustain reliance on rentals. According to CRE market data from WDSuite, the area’s rent levels and rent-to-income dynamics point to manageable affordability pressure relative to many coastal peers, which can aid renewals and pricing power.
The 1978 vintage is older than the neighborhood average (1992), suggesting near- to medium-term capital planning but also clear value-add levers through modernization to improve competitive positioning. Demographics aggregated within a 3-mile radius show increasing households and a projected expansion ahead, alongside smaller household sizes—factors that generally broaden the renter pool and support occupancy stability over a multi-year hold.
- Tight neighborhood occupancy and resilient renter demand support stable leasing
- High-cost ownership market reinforces reliance on multifamily housing
- 1978 vintage provides clear value-add and modernization potential
- 3-mile household growth and smaller household sizes expand the renter base
- Risks: weaker safety metrics and limited nearby parks/childcare call for strong operations and targeted capex