| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Poor |
| Demographics | 69th | Good |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8328 Fanita Dr, Santee, CA, 92071, US |
| Region / Metro | Santee |
| Year of Construction | 1980 |
| Units | 72 |
| Transaction Date | 2012-06-01 |
| Transaction Price | $7,650,000 |
| Buyer | Fanita Valley 72 LLC |
| Seller | Fletcher Valley Apartments LP |
8328 Fanita Dr, Santee CA Multifamily Investment
Neighborhood multifamily occupancy remains high, supporting stable collections and retention, according to WDSuite’s CRE market data, while nearby job centers across San Diego help underpin renter demand.
This suburban Santee location pairs steady renter demand with family-oriented fundamentals. The neighborhood records a high multifamily occupancy rate (measured for the neighborhood, not the property), landing in the upper tier nationally, which supports income stability. Average school ratings are strong, and parks access is comparatively solid, while everyday retail like cafes, groceries, and pharmacies are thinner immediately nearby, suggesting residents rely on broader trade areas for shopping.
Relative positioning within the San Diego-Chula Vista-Carlsbad metro is mixed. The neighborhood’s overall standing is C+ and below the metro median among 621 neighborhoods, but it remains competitive on occupancy and schools. Restaurant density is moderate versus national peers, while park access is in the top quartile nationally. These dynamics indicate a livable, residential area with fewer walkable conveniences but stable tenant profiles.
Property vintage matters here: the asset was built in 1980, slightly older than the neighborhood’s average construction year (1985). That age profile can translate into near- to medium-term capital needs, but also provides value-add and modernization angles to strengthen competitive positioning against newer stock.
Within a 3-mile radius, population and households have grown and are projected to continue increasing, indicating a larger tenant base over time. Household incomes in this radius have risen meaningfully, and rents have advanced as well, yet rent-to-income levels at the neighborhood scale indicate manageable affordability pressure that can support lease retention rather than churn. Elevated home values in the area reinforce sustained reliance on multifamily housing, which can aid occupancy durability.
Safety benchmarks are mixed when compared nationally. The neighborhood’s crime profile sits below the national median, and it ranks below the metro median among 621 San Diego neighborhoods, indicating higher incident rates relative to stronger-performing subareas. One-year trends show a modest uptick in property offenses and a more notable rise in violent offenses at the neighborhood level. Investors should underwrite with appropriate operating protocols (lighting, access control, and resident screening) and consider how professional management can mitigate risk and support retention.
Proximity to diversified employers supports weekday traffic and renter retention, with access to defense and aerospace, food distribution, utilities, wireless technology, and biotech within roughly 8–13 miles.
- L-3 Telemetry & RF Products — defense & aerospace offices (7.8 miles)
- Sysco — food distribution (8.1 miles)
- Sempra Energy — utilities (12.0 miles) — HQ
- Qualcomm — wireless & semiconductors (12.3 miles) — HQ
- Celgene Corporation — biotech/pharma (12.9 miles)
The 72-unit, 1980-vintage asset at 8328 Fanita Dr benefits from a neighborhood with strong school ratings and high multifamily occupancy, supporting steady collections. Elevated ownership costs in the broader area help sustain renter reliance on multifamily, while population and household growth within a 3-mile radius point to gradual renter pool expansion and occupancy stability. Based on CRE market data from WDSuite, the area’s amenity mix skews residential—fewer walkable conveniences locally—but core job nodes within roughly 8–13 miles bolster leasing durability.
The vintage suggests targeted capital planning can unlock value-add upside—modernizing interiors, systems, and curb appeal to compete against newer deliveries. Underwriting should also account for neighborhood safety metrics that trend weaker than national medians and a renter-occupied share that is moderate, which may influence lease-up velocity and marketing strategy. Overall, durable occupancy, solid schools, and proximity to diversified employment create a credible long-term holding case.
- High neighborhood occupancy supports income stability
- 1980 vintage offers clear value-add and CapEx positioning
- Strong school ratings and family-oriented demand drivers
- Access to diversified employers within 8–13 miles supports retention
- Risks: below-median safety metrics and thinner walkable amenities require proactive management