| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 53rd | Fair |
| Amenities | 41st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9349 Creekside Ct, Santee, CA, 92071, US |
| Region / Metro | Santee |
| Year of Construction | 1987 |
| Units | 62 |
| Transaction Date | 2021-08-26 |
| Transaction Price | $14,532,500 |
| Buyer | TIERRA AT CREEKSIDE LLC |
| Seller | 9349-9360CREEKSIDE CA LP |
9349 Creekside Ct Santee Multifamily Investment
This 62-unit property in San Diego County benefits from exceptional neighborhood occupancy rates at 99.6%, ranking in the top 10% nationally. The inner suburb location supports stable rental demand with median household incomes of $103,298 according to CRE market data from WDSuite.
This inner suburb neighborhood demonstrates strong fundamentals for multifamily investors, with occupancy rates reaching 99.6% and ranking 62nd among 621 metro neighborhoods. The area maintains above-average rental demand with 45.2% of housing units occupied by renters, supporting consistent tenant pools for multifamily properties.
Demographics within a 3-mile radius show a stable tenant base with median household incomes of $92,653 and projected growth to $121,887 by 2028. The population of nearly 100,000 residents is expected to grow modestly over the next five years, with household formation increasing by 27%, expanding the potential renter pool. The neighborhood's relatively newer construction average of 1997 ranks in the top quartile regionally, indicating competitive housing stock.
Median home values of $638,676 reinforce rental demand by keeping homeownership costs elevated relative to incomes. This dynamic supports tenant retention and reduces competition from ownership alternatives. The neighborhood offers adequate amenities with grocery stores and childcare facilities above metro averages, though dining and entertainment options remain more limited compared to urban cores.
Rental metrics show median contract rents of $1,757, positioning the area competitively within the broader San Diego market. The rent-to-income ratio of 20% suggests manageable affordability for the current tenant base, supporting lease renewal rates and occupancy stability.
Property crime rates in the neighborhood show improvement with a 22% decline over the past year, ranking in the 66th percentile nationally for crime reduction trends. However, current property crime levels remain above metro averages, ranking 226th among 621 neighborhoods in the region.
Violent crime rates are positioned in the lower tier compared to other metro neighborhoods, with recent increases of 22% warranting continued monitoring. Investors should consider security measures and tenant screening protocols as part of their operational strategy, while noting that the neighborhood's overall crime trends show mixed signals requiring ongoing assessment.
The San Diego metro employment base provides diverse corporate anchors within commuting distance, supporting workforce housing demand from technology, energy, and logistics sectors.
- Sysco — food service distribution (8.4 miles)
- L-3 Telemetry & RF Products — defense technology (10.7 miles)
- Qualcomm — telecommunications technology (14.4 miles) — HQ
- Sempra Energy — utility services (15.1 miles) — HQ
- Celgene Corporation — biotechnology (15.3 miles)
The 1987 vintage property presents value-add opportunities through strategic capital improvements while benefiting from exceptional neighborhood occupancy fundamentals. Multifamily property research indicates the area's 99.6% occupancy rate significantly outperforms regional averages, providing a stable foundation for cash flow and renovation planning.
San Diego County's employment diversity, anchored by major technology and energy employers within 15 miles, supports sustained rental demand from workforce housing needs. Projected household income growth of 32% over five years, combined with elevated homeownership costs, reinforces the rental market's long-term stability.
- Exceptional occupancy rates at 99.6% rank in top 10% nationally
- Value-add potential with 1987 construction allowing strategic improvements
- Strong employment base with major corporate headquarters nearby
- Projected household income growth of 32% supports rent growth potential
- Crime trends require ongoing monitoring and operational attention