| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 59th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8876 Olive Ln, Santee, CA, 92071, US |
| Region / Metro | Santee |
| Year of Construction | 1978 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | $1,241,100 |
| Buyer | OWNERSHIP NAME INFORMATION |
| Seller | --- |
8876 Olive Ln Santee Suburban Multifamily Investment
Neighborhood occupancy is strong with sustained renter demand, according to WDSuite’s CRE market data, positioning the asset for stable performance in an Inner Suburb location of San Diego County.
The property sits in an Inner Suburb setting of the San Diego–Chula Vista–Carlsbad metro where the neighborhood rates in the top quartile among 621 metro neighborhoods. Occupancy at the neighborhood level is elevated relative to national norms, supporting income stability and limited downtime between turns. Schools test well above national averages (average rating around 4 out of 5), which can aid retention for family-oriented renter cohorts.
Daily-needs access is a local strength: grocery and restaurant density ranks near the top of national comparisons, while pharmacies are also plentiful. By contrast, café density and formal park acreage are limited in the immediate neighborhood. Investors can expect solid convenience for essentials with fewer third-wave amenities, a mix that typically appeals to workforce and family renters.
Home values in the neighborhood are elevated by national standards, and the value-to-income ratio is high, indicating a high-cost ownership market. That backdrop tends to reinforce reliance on rental housing and supports pricing power when paired with strong occupancy. At the same time, neighborhood rent-to-income levels remain manageable, an advantage for lease retention and reduced turnover risk based on commercial real estate analysis trends.
Construction year is 1978, slightly older than the neighborhood average vintage. That age profile suggests prudent capital planning and selective renovations could unlock value-add upside and keep the asset competitive against newer product. The share of housing units that are renter-occupied in this neighborhood is a little over one-third, signaling a moderate renter concentration and a stable, diversified tenant base rather than a transient profile.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to expand further by the middle of the decade, implying a larger tenant base over time. Rising household incomes in the 3-mile area also point to continued depth for market-rate units, supporting occupancy stability and steady absorption.
Safety indicators for the neighborhood are mixed. Compared with neighborhoods nationwide, current crime measures sit below national safety averages, and within the San Diego metro the area tracks around the middle of the pack among 621 neighborhoods. Recent momentum is constructive: property offenses have declined materially year over year, an improvement that softens risk even if levels remain higher than the national median. Investors should underwrite with standard precautions and monitor trends rather than relying on block-level assumptions.
Proximity to diversified employers supports renter demand and commute convenience for workforce households. Notable nearby employers include Sysco, L-3 Telemetry & RF Products, Qualcomm, Sempra Energy, and Celgene.
- Sysco — foodservice distribution (7.8 miles)
- L-3 Telemetry & RF Products — defense & aerospace (8.6 miles)
- Qualcomm — semiconductors (12.7 miles) — HQ
- Sempra Energy — utilities (13.0 miles) — HQ
- Celgene — biopharma (13.4 miles)
This 36-unit asset benefits from a high-occupancy neighborhood, elevated ownership costs that reinforce renter reliance on multifamily housing, and strong daily-needs retail access. Built in 1978, the property likely warrants targeted capex and modernization, which can create value-add potential while maintaining competitive positioning against newer product. According to CRE market data from WDSuite, the neighborhood’s performance sits in the top quartile within the San Diego metro and exhibits supportive fundamentals for income durability.
Investor demand drivers include a growing 3-mile renter pool, above-average school ratings that aid retention, and proximity to diversified employment nodes across East and Central San Diego. Key underwriting considerations are typical of late-1970s construction and a safety profile that, while improving, remains below national safety averages.
- High neighborhood occupancy and steady renter demand support income stability
- Elevated home values reinforce rental demand and measured pricing power
- 1978 vintage offers value-add potential via selective renovations and systems upgrades
- Access to diversified employers underpins leasing and retention across workforce segments
- Risks: older building capex and a safety profile below national averages warrant conservative underwriting