| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 32nd | Poor |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 233 Padua Hills Pl, San Ysidro, CA, 92173, US |
| Region / Metro | San Ysidro |
| Year of Construction | 2000 |
| Units | 50 |
| Transaction Date | 2024-10-19 |
| Transaction Price | $8,100,000 |
| Buyer | 610 INVESTMENTS 24-4 LLC |
| Seller | FINCH PARTNERS LP |
233 Padua Hills Pl San Ysidro Multifamily Investment
This 50-unit property built in 2000 benefits from strong neighborhood occupancy rates at 98.7%, well above metro averages. Commercial real estate analysis from WDSuite indicates sustained rental demand in this Urban Core location.
The San Ysidro neighborhood demonstrates solid rental fundamentals with 98.7% occupancy and a 51.8% share of housing units that are renter-occupied, ranking in the top 11% nationally for rental tenure. Demographics within a 3-mile radius show a stable population of 107,116 residents with household incomes averaging $102,423, supporting consistent rental demand.
Built in 2000, this property aligns with the neighborhood's average construction year of 1980, positioning it as relatively newer stock that may require less immediate capital expenditure compared to older vintage properties. The Urban Core designation reflects dense development patterns typical of established rental markets.
Median contract rents of $1,786 in the neighborhood rank in the 87th percentile nationally, indicating strong pricing power. However, rent-to-income ratios suggest affordability pressure that warrants careful lease management and renewal strategies. The area maintains above-average access to essential services, with grocery stores and pharmacies ranking in the 89th and 97th percentiles respectively for density per square mile.
Forward-looking demographics project household income growth to $121,939 by 2028, a 45% increase that could support rent growth, though population is forecast to decline 10.6%. The shift toward higher-income households may offset population decreases by sustaining demand for quality rental housing.
Property crime rates in the neighborhood rank 374th among 621 metro neighborhoods, placing it near the middle of the San Diego market. Violent crime rates perform better at 165th of 621 neighborhoods, indicating relatively lower violent crime compared to property crime incidents.
Recent trends show property crime increased 33.2% year-over-year, which ranks in the bottom quartile nationally for crime trend performance. Violent crime remained more stable with a slight 0.4% decrease. Investors should monitor these trends as they may influence tenant retention and property insurance considerations.
The San Diego metro provides access to major corporate anchors, with energy and technology companies offering workforce housing demand within commuting distance.
- Sempra Energy — energy services (12.2 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (18.8 miles)
- Celgene Corporation — biotechnology (24.4 miles)
- Qualcomm — technology (24.8 miles) — HQ
- Sysco — food distribution (26.0 miles)
This 50-unit property built in 2000 capitalizes on strong neighborhood fundamentals, including 98.7% occupancy rates that significantly exceed typical market performance. The Urban Core location benefits from established rental demand, with over half of housing units occupied by renters. According to CRE market data from WDSuite, the area's demographic profile shows household income growth potential, with projections indicating 45% increases by 2028 that could support rent growth despite modest population decline.
The property's 2000 construction year positions it as newer vintage compared to the neighborhood average, potentially reducing near-term capital expenditure needs while maintaining competitive appeal. However, current rent-to-income ratios and rising property crime trends require active management attention to optimize tenant retention and renewal rates.
- Exceptional 98.7% neighborhood occupancy rates indicate strong rental demand
- Newer 2000 vintage reduces immediate capital expenditure requirements
- Projected 45% household income growth supports future rent potential
- Urban Core location with established renter base and essential services access
- Monitor affordability pressure and rising property crime trends for retention impact