| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 68th | Good |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9325 Carlton Oaks Dr, Santee, CA, 92071, US |
| Region / Metro | Santee |
| Year of Construction | 2000 |
| Units | 72 |
| Transaction Date | 2018-04-25 |
| Transaction Price | $45,000,000 |
| Buyer | SANTEE AFFORDABLE COMMUNITIES LP |
| Seller | CARLTON VILLAS HOUSING PARTNERS LP |
9325 Carlton Oaks Dr Santee Multifamily Investment
Stabilized renter demand and high neighborhood occupancy point to durable cash flow potential, according to WDSuite’s CRE market data. Elevated ownership costs in San Diego County further support lease retention for well-positioned assets in Santee.
The property sits in an A-rated Inner Suburb neighborhood that ranks 35th among 621 San Diego–Chula Vista–Carlsbad neighborhoods, placing it competitive within the metro and top quartile nationally on several livability metrics. Neighborhood occupancy is strong and has trended higher over the last five years, supporting income stability for multifamily assets.
Daily needs are well covered: grocery and restaurant density score near the top nationally, and pharmacies test in the mid-to-high 90th percentiles. Average school ratings are strong (about 4 out of 5), landing in the top quartile nationwide — a factor that can aid retention for family-oriented renter households.
2000 vintage positions the asset newer than the neighborhood’s average construction year (1992). That tends to confer competitive standing versus older stock while still warranting selective modernization and system updates to sustain rents and reduce near-term capex surprises.
Renter-occupied share in the neighborhood is modest relative to owner-occupied housing, which can mean a more targeted but stable tenant base. Within a 3-mile radius, population and household counts have grown in recent years with additional increases projected, expanding the local renter pool and supporting occupancy stability. Median household incomes are high for the area, and rent-to-income levels suggest manageable affordability pressure — positive for retention and disciplined pricing.
Home values are elevated versus national norms, indicating a high-cost ownership market. For multifamily investors, this context sustains reliance on rental housing and can underpin steady demand, especially for well-maintained, mid-size communities.
Safety indicators benchmark below national averages for similar neighborhoods, and the area ranks below the metro midpoint (353rd of 621) on crime. That said, recent trends point to improvement, with both violent and property offense rates easing year over year. Investors should underwrite with a prudent view on security line items and resident experience while recognizing the directional improvement.
Nearby employment is diversified across food distribution, aerospace/defense, life sciences, energy, and technology — a mix that supports renter demand through varied professional and hourly-wage roles.
- Sysco — food distribution (7.1 miles)
- L-3 Telemetry & RF Products — defense & aerospace (8.3 miles)
- Qualcomm — technology R&D (12.2 miles) — HQ
- Celgene Corporation — life sciences (12.9 miles)
- Sempra Energy — energy & utilities (13.1 miles) — HQ
This 72-unit, 2000-vintage asset benefits from strong neighborhood fundamentals: high occupancy, top-quartile amenities and schools, and elevated home values that reinforce dependence on rental housing. Within a 3-mile radius, population and households are expanding with rising incomes, pointing to a larger tenant base and steady leasing. According to CRE market data from WDSuite, neighborhood occupancy trends remain competitive among San Diego metro peers, supporting income durability.
Positioned newer than the area’s average vintage, the property can compete effectively with older stock while offering value-add potential through targeted interior upgrades and operational optimization. Underwriting should account for a modest renter concentration in the immediate neighborhood and prudent security spend, but the broader demand drivers appear favorable for long-term hold or renovate-to-compete strategies.
- High neighborhood occupancy and resilient leasing backdrop support cash flow stability
- 2000 vintage offers competitive positioning with selective value-add/modernization upside
- Elevated ownership costs bolster rental demand and potential lease retention
- 3-mile growth in households and incomes expands the renter pool over time
- Risks: below-average safety benchmarks and modest renter concentration warrant conservative underwriting