| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Poor |
| Demographics | 50th | Fair |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10032 N Magnolia Ave, Santee, CA, 92071, US |
| Region / Metro | Santee |
| Year of Construction | 1974 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
10032 N Magnolia Ave Santee Multifamily Investment
This 100-unit property benefits from strong neighborhood occupancy at 97.1% and solid rental demand fundamentals, according to CRE market data from WDSuite.
Located in Santee's inner suburban landscape, this neighborhood demonstrates solid rental market fundamentals with occupancy rates reaching 97.1%, ranking in the top quartile nationally among San Diego metro neighborhoods. The area maintains a balanced housing tenure profile with 32% of units occupied by renters, supporting consistent demand for multifamily properties.
Built in 1974, this property aligns with the neighborhood's average construction year of 1978, presenting potential value-add opportunities through strategic renovations and unit improvements. The area's median contract rent of $1,742 has grown 8.2% over five years, reflecting steady rental pricing power in this San Diego submarket.
Demographics within a 3-mile radius show a stable population base of approximately 68,500 residents with modest growth of 3.6% over the past five years. Household income averages $105,440 with projections indicating continued growth to $141,951 by 2028, supporting rental affordability and tenant retention. The rent-to-income ratio of 0.21 suggests manageable affordability pressure for residents, which can support lease renewal rates.
The neighborhood ranks in the 93rd percentile nationally for grocery store density and pharmacy access, enhancing tenant appeal through convenient daily amenities. However, limited recreational amenities like parks and cafes may impact competitive positioning for certain tenant demographics.
Crime metrics place this neighborhood in the middle range among San Diego metro's 621 neighborhoods, with property offense rates showing a recent 5.5% decline year-over-year. Violent crime rates have decreased significantly by 29.3% annually, ranking in the 75th percentile nationally for improvement trends, suggesting positive safety trajectory that can support tenant retention and leasing velocity.
While crime levels remain moderate compared to metro averages, the improving trend provides a foundation for stable occupancy and competitive lease rates in this inner suburban location.
The surrounding employment base includes significant corporate presence anchored by technology and energy sector employers, providing workforce housing demand for this multifamily property.
- Sysco — food service distribution (7.1 miles)
- L-3 Telemetry & RF Products — defense & aerospace (9.8 miles)
- Qualcomm — technology & telecommunications (13.2 miles) — HQ
- Celgene Corporation — biotechnology (14.1 miles)
- Sempra Energy — utilities & energy (14.8 miles) — HQ
This 100-unit property built in 1974 presents a compelling value-add opportunity in Santee's stable rental market. Strong neighborhood-level occupancy at 97.1% ranks in the top quartile nationally, while demographic projections show household income growth of 35% over the next five years, supporting rental demand and pricing power. The property's vintage aligns with renovation potential that could capture higher rents in a market where contract rents have grown 8.2% over five years.
Commercial real estate analysis from WDSuite indicates this location benefits from San Diego's employment diversity, with major corporate employers including Qualcomm and Sempra Energy headquarters within a reasonable commute. The rent-to-income ratio of 0.21 suggests sustainable affordability for tenants, while the 32% renter-occupied housing share provides a stable tenant pool in this inner suburban setting.
- Strong occupancy fundamentals with 97.1% neighborhood rate ranking top quartile nationally
- Value-add potential through renovations of 1974 vintage property
- Projected 35% household income growth supporting rental demand through 2028
- Proximity to major San Diego employers including Fortune 500 headquarters
- Risk consideration: Limited recreational amenities may impact tenant appeal for certain demographics