| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 59th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8832 Olive Ln, Santee, CA, 92071, US |
| Region / Metro | Santee |
| Year of Construction | 1978 |
| Units | 22 |
| Transaction Date | 2004-07-27 |
| Transaction Price | $2,750,000 |
| Buyer | PURDY JAMES ROBERT |
| Seller | MEDISPOON LLC |
8832 Olive Ln Santee Multifamily Investment
Inner-suburban Santee shows stable renter demand and tight neighborhood occupancy, according to WDSuite’s CRE market data. Strong local services and schools further support retention potential for a well-managed 22-unit asset.
Located in Santee within the San Diego metro, the neighborhood is rated A- and ranks 154 of 621 (above the metro median), signaling competitive livability for workforce-oriented multifamily. Local services are a strength: grocery, pharmacy, and restaurant access compare favorably with U.S. neighborhoods. The trade-off is fewer parks and a thinner café scene, which owners can offset with on-site amenities and community programming.
Neighborhood renter concentration is moderate—about a third of housing units are renter-occupied—indicating a deep but not saturated tenant base. For multifamily operators, that balance can support steadier demand and reduce turnover volatility. Average school ratings are stronger than many U.S. neighborhoods, a factor that can aid leasing and renewals for family-friendly unit mixes.
Within a 3-mile radius, demographics show modest recent population growth and a slight increase in households, with forecasts pointing to additional expansion by 2028. Rising incomes and a larger household base in the 3-mile area point to renter pool expansion and support for occupancy stability, favoring disciplined operations over speculative lease-up assumptions.
Home values are elevated relative to national norms, creating a high-cost ownership market that tends to sustain reliance on rental housing—supportive of pricing power and lease retention for well-maintained assets. The property’s 1974 vintage, older than the neighborhood’s early-1980s average, suggests thoughtful capital planning and targeted value-add upgrades to sharpen competitive positioning, guided by focused commercial real estate analysis.
Safety indicators track below many U.S. neighborhoods, and the area sits below the metro median (ranked 343 of 621 San Diego neighborhoods). In national terms, both personal and property safety fall in lower percentiles, so investors typically underwrite for security, lighting, and resident engagement as part of the operating plan.
Recent trends show a year-over-year decline in property-related incidents, which is constructive, but prudent underwriting should assume conservative baselines and monitor changes over time rather than relying on short-term improvements.
Regional employment nodes nearby include food distribution, aerospace/defense technology, telecom, energy, and life sciences. This mix supports commuter convenience and broad renter demand across income bands, helping stabilize leasing and retention.
- Sysco — food distribution (7.8 miles)
- L-3 Telemetry & RF Products — defense & aerospace (8.6 miles)
- Qualcomm — telecom & wireless (12.7 miles) — HQ
- Sempra Energy — energy (13.0 miles) — HQ
- Celgene Corporation — life sciences (13.4 miles)
8832 Olive Ln is a 22-unit, 1974-vintage asset positioned in an inner-suburban neighborhood that scores above the San Diego metro median for overall livability. Tight neighborhood occupancy and a high-cost ownership landscape support renter reliance on multifamily, while strong local services and above-average school ratings provide durable leasing fundamentals. According to CRE market data from WDSuite, neighborhood-level occupancy remains elevated versus many U.S. areas, underscoring the case for operational stability rather than speculative lease-up.
Within a 3-mile radius, modest recent population gains and increasing household counts are expected to continue, pointing to a larger tenant base by 2028. Given the property’s older vintage relative to nearby stock, targeted capital improvements and value-add upgrades can enhance competitiveness against newer and renovated comparables, while underwriting should incorporate measured rent growth, security planning, and expense controls.
- Tight neighborhood occupancy and sustained renter demand support leasing stability
- High-cost ownership market reinforces reliance on rental housing and pricing power
- 3-mile area shows growing households and rising incomes, expanding the renter pool
- 1974 vintage provides clear value-add pathway with targeted renovations and systems upgrades
- Risks: safety metrics below metro and national norms and limited parks/cafés; underwrite security and lean on on-site amenities