| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 63rd | Good |
| Amenities | 57th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9085 Mast Blvd, Santee, CA, 92071, US |
| Region / Metro | Santee |
| Year of Construction | 1985 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | $4,000,000 |
| Buyer | OWNERSHIP NAME INFORMATION |
| Seller | --- |
9085 Mast Blvd, Santee CA Multifamily Opportunity
Neighborhood occupancy is strong and demand is supported by high-income households, according to WDSuite s CRE market data, positioning this 1985-vintage asset for steady lease-up and retention in San Diego s east suburban corridor.
Located in Santee s inner-suburban fabric of the San Diego metro, the property benefits from a renter base supported by high median household incomes and a high-cost ownership market. Neighborhood occupancy is competitive among San Diego neighborhoods (ranked 186 of 621) and sits in the top quartile nationally, suggesting stable leasing conditions at the neighborhood level rather than at the property itself.
Everyday convenience is a draw: grocery access and park availability are both strong relative to national peers (around the 90th percentile), and restaurants are reasonably available. By contrast, local cafe and pharmacy density is limited, which may shift some errands to nearby corridors but does not materially diminish the residential appeal for most renters.
Within a 3-mile radius, population has inched higher in recent years while households have grown faster, indicating smaller household sizes and a broader base of potential renters. Forward-looking data points to further increases in households by 2028, which would expand the tenant pool and support occupancy stability for well-managed multifamily assets.
Renter-occupied housing represents roughly one-quarter of units in the immediate area, signaling a market with meaningful but not dominant renter concentration. For investors, this typically translates to a defined, income-supported tenant base with less volatility, though marketing and unit finishes should remain competitive to capture demand.
The 1985 construction is slightly newer than the neighborhood s average vintage. This positioning can be competitive against older stock, while still offering value-add potential through selective modernization of interiors, building systems, and common areas to meet current renter expectations.
Elevated home values in the area reinforce reliance on rental housing and can support pricing power for well-located assets, while a moderate rent-to-income environment indicates manageable affordability pressure and potential for retention with prudent lease management.
Safety trends should be viewed in context. Compared with neighborhoods nationwide, this area sits below average on safety indicators (violent and property offense percentiles are on the lower side). Within the San Diego metro, the neighborhood ranks 261 out of 621 on overall crime, placing it mid-pack among metro peers. Recent year-over-year readings indicate modest declines in both violent and property incidents, a constructive directional signal rather than a definitive shift.
Investors should underwrite with standard operating assumptions for security and resident experience, focusing on lighting, access control, and partnership with local community resources to support tenant retention.
Proximity to established employers supports a stable renter pipeline, particularly for workforce and professional tenants commuting to nearby corporate hubs. Key nearby employers include Sysco, L-3 Telemetry & RF Products, Qualcomm, Celgene, and Sempra Energy.
- Sysco 4 foodservice distribution (6.6 miles)
- L-3 Telemetry & RF Products 4 defense & aerospace offices (7.9 miles)
- Qualcomm 4 technology R&D and offices (11.7 miles) 4 HQ
- Celgene Corporation 4 biopharma offices (12.4 miles)
- Sempra Energy 4 utilities & energy (13.0 miles) 4 HQ
This 72-unit, 1985-vintage property in Santee aligns with durable suburban fundamentals: neighborhood occupancy ranks competitively in the San Diego metro and is top quartile nationally, indicating solid leasing prospects at the neighborhood level. Elevated for-sale housing costs reinforce renter reliance on multifamily, and within a 3-mile radius households have been increasing, broadening the tenant base. According to CRE market data from WDSuite, grocery and park access are strong relative to national peers, supporting livability and retention.
The asset s slightly newer-than-local-average vintage creates a balanced profile: competitive against older stock with identifiable renovation pathways to push rents and improve resident experience. Key underwriting considerations include standard security programming, competitive finishes, and thoughtful marketing in a market where renter-occupied share is meaningful but not dominant.
- Competitive neighborhood occupancy supports leasing stability and retention
- High-cost ownership market sustains renter demand and pricing power
- 1985 vintage offers value-add potential through targeted upgrades
- Strong grocery and park access bolster livability for residents
- Risks: below-average national safety metrics and limited cafe/pharmacy density warrant prudent operations