| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Poor |
| Demographics | 69th | Good |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8616 Fanita Dr, Santee, CA, 92071, US |
| Region / Metro | Santee |
| Year of Construction | 2010 |
| Units | 48 |
| Transaction Date | 2009-10-22 |
| Transaction Price | $1,500,000 |
| Buyer | IMMOBILLER FUND II LLC |
| Seller | MCCOOL CYNTHIA |
8616 Fanita Dr Santee Multifamily Investment
This 48-unit suburban property built in 2010 benefits from strong neighborhood occupancy of 97.7% and San Diego County's sustained rental demand according to CRE market data from WDSuite.
Located in a suburban neighborhood within San Diego County, this property sits in an area ranking above the metro median for occupancy performance. Neighborhood-level occupancy of 97.7% places this location in the top quartile nationally among 621 metro neighborhoods, indicating strong rental demand stability.
The 2010 construction year positions this property among newer building stock in the neighborhood, where the average construction year is 1985. This 25-year advantage suggests reduced near-term capital expenditure needs compared to older competing properties. Within a 3-mile radius, demographics show a population of approximately 77,750 with household incomes averaging $123,009, supporting rental demand at current market levels.
Local schools average 4.5 out of 5 stars, ranking in the 94th percentile nationally, which enhances tenant retention appeal for families. The area shows 32.8% of housing units are renter-occupied, indicating a solid rental market foundation. However, amenity density remains limited with minimal retail and dining options per square mile, which may impact tenant convenience compared to more urban locations.
Median contract rents of $1,639 in the immediate neighborhood reflect the suburban positioning, while the broader 3-mile area shows rents averaging $1,929. Demographic projections indicate household growth of 30.4% by 2028, expanding the potential tenant base and supporting longer-term occupancy stability.
Safety metrics show mixed performance relative to the San Diego metro area. Property crime rates rank 280th among 621 metro neighborhoods, placing the area above the metro median but in the lower quartiles nationally at the 18th percentile. Violent crime rates follow a similar pattern, ranking 301st locally while registering in the 18th percentile nationally.
Both property and violent crime rates have shown recent increases, with property offenses up 2.7% and violent offenses up 21.9% year-over-year. While these trends warrant monitoring, the suburban setting and strong school ratings may continue to attract stable tenant demographics despite the safety considerations.
The property benefits from proximity to major San Diego employers, providing workforce housing opportunities for technology and corporate sector employees.
- L-3 Telemetry & RF Products — defense technology (7.8 miles)
- Sysco — food service distribution (7.8 miles)
- Qualcomm — technology and telecommunications (12.1 miles) — HQ
- Sempra Energy — utilities and energy (12.2 miles) — HQ
- Celgene Corporation — biotechnology (12.8 miles)
This 48-unit property presents a stable suburban multifamily opportunity anchored by strong occupancy fundamentals and newer construction vintage. The neighborhood's 97.7% occupancy rate ranks in the top quartile nationally, while the 2010 construction year provides a competitive advantage over the area's 1985 average building vintage. Demographic growth projections show household expansion of 30.4% by 2028 within the 3-mile radius, supporting longer-term tenant demand.
However, investors should consider the mixed safety profile and limited amenity density when evaluating tenant retention strategies. The suburban San Diego location offers proximity to major employers including Qualcomm and Sempra Energy headquarters, though commute distances may influence tenant preferences. According to commercial real estate analysis from WDSuite, the combination of occupancy stability and demographic growth trends supports the investment thesis despite competitive pressures from ownership options in the broader market.
- Neighborhood occupancy of 97.7% ranks top quartile nationally among 621 metro neighborhoods
- 2010 construction provides 25-year advantage over neighborhood average, reducing near-term capex needs
- Projected 30.4% household growth by 2028 within 3-mile radius expands tenant base
- Proximity to major San Diego employers including Qualcomm and Sempra Energy headquarters
- Risk consideration: Safety metrics rank below national medians and limited amenity density may impact tenant retention