| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Poor |
| Demographics | 41st | Poor |
| Amenities | 30th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 240 W Calle Primera, San Ysidro, CA, 92173, US |
| Region / Metro | San Ysidro |
| Year of Construction | 1985 |
| Units | 29 |
| Transaction Date | 2021-08-26 |
| Transaction Price | $6,844,000 |
| Buyer | MF PANDA NR OWNER CA LP |
| Seller | 642 DEL RIO LLC |
240 W Calle Primera San Ysidro Multifamily Investment
Neighborhood occupancy around 90% and a renter-occupied share near one-third point to a stable but competitive leasing environment, according to WDSuite’s CRE market data. With San Diego metro demand drivers nearby, this asset’s performance should track local employment and management execution.
Located in San Ysidro within the San Diego metro, the property sits in an inner-suburban neighborhood rated C- (ranked 517 out of 621 metro neighborhoods). Amenity access is mixed: park coverage ranks 75 of 621 (top quartile among San Diego neighborhoods), and grocery access is competitive at rank 211 of 621, while cafes, restaurants, and pharmacies are sparse in the immediate area. For investors, this suggests day-to-day convenience for residents via parks and groceries, with limited lifestyle retail nearby.
Neighborhood occupancy is about 90.1% (rank 511 of 621, below the metro median), indicating room for leasing optimization and retention-focused operations. The share of housing units that are renter-occupied is roughly 30.5%, signaling a modest local tenant pool at the neighborhood level; however, within a 3-mile radius, renters account for an estimated 46.8% of units, broadening the addressable demand base for a 29-unit asset.
Demographic statistics aggregated within a 3-mile radius show households up roughly 8.7% over five years while population edged higher, indicating smaller average household sizes and a gradual expansion of the renting cohort. Forward-looking data point to additional shifts: households are projected to rise further even as population is expected to contract, which typically supports leasing through a larger count of households despite fewer residents per household. Median contract rents in the 3-mile radius have risen meaningfully over five years and are projected to continue increasing, supporting revenue growth opportunities for well-managed properties.
Ownership costs appear elevated relative to income in the neighborhood context (home values rank in a high national percentile), which can sustain reliance on multifamily housing and help underpin pricing power. At the same time, the neighborhood’s rent-to-income profile ranks favorably at the national level, suggesting lower affordability pressure that can aid lease retention and reduce turnover risk. The average construction vintage in the neighborhood trends late-1980s; this 1985 asset is slightly older, implying value-add or targeted capital planning may enhance competitiveness versus nearby stock.
Crime indicators for the neighborhood trend weaker than national norms, with ranks placing it below the metro median (crime rank 382 of 621). Nationally, safety percentiles indicate the area performs in the lower tiers, especially for property offenses, though recent year-over-year estimates suggest property crime has eased somewhat. Investors should underwrite with prudent security measures and monitor trend direction as part of operational planning.
Regional employment anchors within commuting range include Sempra Energy (utilities), L-3 Telemetry & RF Products (defense & aerospace), Celgene (biopharma), and Qualcomm (semiconductors). Proximity to these job centers supports renter demand and can aid retention for workforce-oriented units.
- Sempra Energy — utilities & energy (12.6 miles)
- Sempra Energy — utilities & energy (13.3 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (19.3 miles)
- Celgene Corporation — biopharma (24.9 miles)
- Qualcomm — semiconductors (25.3 miles) — HQ
Built in 1985 with 29 units averaging roughly 858 square feet, the property offers scale suited to hands-on operations with potential value-add upside. Neighborhood occupancy sits near 90%, and the 3-mile radius shows household growth and rising incomes, supporting a larger tenant base and the potential for steady leasing. Elevated ownership costs in the area reinforce reliance on rental housing, while a favorable rent-to-income profile suggests room for sustainable rent levels without overextending residents.
According to CRE market data from WDSuite, the neighborhood’s amenity mix (strong parks and grocery access, limited cafes and pharmacies) and below-median occupancy favor operators who can drive retention and capture gradual rent growth. Proximity to diversified regional employers supports workforce demand, while the asset’s slightly older vintage versus the late-1980s neighborhood average points to targeted renovations or systems upgrades as a clear lever for NOI improvement.
- Late-1980s submarket context with a 1985 vintage provides value-add and CapEx planning opportunities
- Household growth within 3 miles expands the tenant base and supports occupancy stability
- Elevated ownership costs and favorable rent-to-income dynamics support pricing power and lease retention
- Access to major employers across utilities, aerospace, biopharma, and semiconductors underpins steady renter demand
- Risks: below-median safety metrics and limited lifestyle retail nearby require prudent operations and resident engagement