| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Poor |
| Demographics | 69th | Good |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9055 Prospect Ave, Santee, CA, 92071, US |
| Region / Metro | Santee |
| Year of Construction | 1986 |
| Units | 61 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
9055 Prospect Ave Santee Multifamily Investment
This 61-unit property built in 1986 benefits from strong neighborhood occupancy rates at 97.7% and excellent school ratings averaging 4.5 out of 5, according to CRE market data from WDSuite.
The Santee neighborhood ranks in the top quartile nationally for school quality, with an average rating of 4.5 out of 5 that supports family-oriented rental demand. Neighborhood-level occupancy reaches 97.7%, ranking in the 87th percentile nationally and indicating strong tenant retention dynamics. Within a 3-mile radius, the area serves 76,833 residents with median household income of $104,196, positioning the market above regional averages for rental affordability.
The property's 1986 construction year aligns with the neighborhood average, indicating consistent building stock that may present value-add opportunities through targeted capital improvements. With 32.8% of housing units renter-occupied, the area maintains a balanced tenure mix that supports multifamily demand without oversaturation. Demographic projections show household growth of 30.4% through 2028, expanding the potential tenant base and supporting long-term occupancy stability.
Median contract rents of $1,639 at the neighborhood level reflect competitive pricing dynamics, while home values averaging $421,538 create affordability barriers that sustain rental demand. The rent-to-income ratio of 0.29 suggests manageable affordability pressure for tenants, supporting lease retention and renewal rates. Limited amenity density, with minimal retail and dining options per square mile, may impact tenant appeal but also indicates potential for neighborhood improvement and corresponding rent growth.
Property crime rates in the neighborhood rank 280th among 621 metro neighborhoods, placing it above the regional median for safety metrics. Violent crime rates rank 301st, indicating moderate safety conditions relative to the broader San Diego metro area. Both property and violent crime rates show recent increases of 2.7% and 21.9% respectively, suggesting investors should monitor security considerations and factor potential tenant retention impacts into lease management strategies.
The property benefits from proximity to major corporate employers including technology and energy sector headquarters that provide stable workforce housing demand.
- Sysco — food distribution services (7.7 miles)
- L-3 Telemetry & RF Products — defense technology (7.8 miles)
- Qualcomm — telecommunications technology (12.1 miles) — HQ
- Sempra Energy — utility services (12.3 miles) — HQ
- Celgene Corporation — biotechnology (12.8 miles)
This 61-unit Santee property presents a stable multifamily investment anchored by exceptional school ratings and strong neighborhood occupancy fundamentals. The 97.7% occupancy rate ranks in the 87th percentile nationally, while demographic growth projections indicate a 30.4% increase in households through 2028, expanding the tenant base. The 1986 construction year provides opportunities for value-add improvements that could capture rent premiums in a market where median home values of $421,538 sustain rental demand.
Proximity to major employers including Qualcomm and Sempra Energy headquarters within 12 miles supports workforce housing demand, while the area's family-oriented demographics benefit from top-quartile school ratings. According to multifamily property research from WDSuite, the neighborhood's balanced 32.8% renter occupancy share and manageable rent-to-income ratios create favorable conditions for lease retention and gradual rent growth.
- Exceptional school ratings averaging 4.5/5 support family tenant retention
- Strong 97.7% neighborhood occupancy ranks in 87th percentile nationally
- Projected 30.4% household growth through 2028 expands tenant base
- Value-add potential through targeted improvements to 1986 vintage property
- Risk consideration: Recent increases in both property and violent crime rates require monitoring