| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Fair |
| Demographics | 55th | Fair |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3903 Conrad Dr, Spring Valley, CA, 91977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 2000 |
| Units | 101 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3903 Conrad Dr, Spring Valley CA Multifamily Investment
Neighborhood occupancy is in the mid-90s and trending up, pointing to steady renter demand supported by a high-cost ownership market, according to WDSuite’s CRE market data.
Located in San Diego County’s inner suburbs, the property sits in a neighborhood rated B where occupancy runs at 95.6% and has improved over the past five years. At rank 287 of 621 metro neighborhoods, occupancy performance is above the metro median, suggesting resilient leasing conditions for stabilized assets.
The building’s 2000 vintage is newer than the neighborhood’s average 1979 stock. That positioning can enhance competitiveness versus older comparables while still warranting targeted capital planning for aging systems and modernization to meet current renter expectations.
Amenities skew practical: grocery access and parks test well versus national norms, and restaurant density is competitive, while cafes and pharmacies are limited. Average school ratings around 2.0 out of 5 are competitive among San Diego neighborhoods (rank 240 of 621) but sit below national averages — a consideration for family-oriented leasing strategies.
Tenure patterns indicate about 28% of neighborhood housing units are renter-occupied, implying a thinner immediate renter base; however, within a 3-mile radius, approximately 43% of housing units are renter-occupied and households have grown in recent years, expanding the broader tenant pool. Rising incomes and elevated ownership costs (high value-to-income ratios locally) tend to sustain reliance on rentals, supporting pricing power and lease retention when managed thoughtfully as part of multifamily property research.
Safety metrics signal elevated crime exposure relative to national norms. The neighborhood ranks 502 out of 621 within the San Diego-Chula Vista-Carlsbad metro, indicating conditions below the metro median and weaker than many U.S. neighborhoods. Nationally, safety percentiles for violent and property offenses sit in lower bands, so operators should plan for appropriate security measures and community management to support retention.
Recent year trends show increases in both violent and property offenses at the neighborhood level (not the property). For underwriting, assume enhanced security, lighting, and access control, and emphasize resident engagement to mitigate risk while maintaining leasing performance.
Proximity to diversified employers supports workforce housing demand and commute convenience. Notable nearby anchors include L-3 Telemetry & RF Products, Sempra Energy, Sysco, Qualcomm, and Celgene.
- L-3 Telemetry & RF Products — defense & aerospace (9.97 miles)
- Sempra Energy — utilities & energy (10.48 miles) — HQ
- Sysco — foodservice distribution (13.43 miles)
- Qualcomm — wireless & semiconductors (15.82 miles) — HQ
- Celgene Corporation — biopharma offices (16.08 miles)
This 101-unit asset offers scale in a neighborhood where occupancy is above the metro median and has strengthened over the last five years, supporting stable cash flow potential. The 2000 construction is newer than the area’s late-1970s average, which can improve competitive positioning versus older stock while leaving room for targeted value-add and system updates over the hold period. Elevated home values and a high value-to-income backdrop reinforce reliance on rentals, and rent-to-income ratios around mid-teens suggest manageable affordability pressure that can support retention with prudent lease management, based on CRE market data from WDSuite.
Within a 3-mile radius, population and households have expanded, incomes have risen, and rents are projected to trend upward, pointing to a larger and higher-earning renter pool over time. Neighborhood NOI per unit benchmarks are competitive among San Diego neighborhoods (top quartile within the metro), while amenities are serviceable for daily needs; investors should underwrite to modest capex for modernization and account for below-average school ratings and elevated safety risk in operating plans.
- Occupancy above the metro median with multi-year improvement supports leasing stability
- 2000 vintage versus older neighborhood stock offers competitive positioning with value-add potential
- High-cost ownership market sustains renter reliance, reinforcing pricing power and retention
- 3-mile radius shows expanding, higher-earning renter pool and forward rent momentum
- Risks: elevated safety exposure and below-national school ratings warrant proactive operations