| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Fair |
| Demographics | 25th | Poor |
| Amenities | 16th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8956 Harness St, Spring Valley, CA, 91977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 1985 |
| Units | 104 |
| Transaction Date | 2012-12-17 |
| Transaction Price | $8,450,000 |
| Buyer | PEPPERTREE APARTMENTR HOLDINGS LP |
| Seller | WARREN LORTIE INVESTMENTS INC |
8956 Harness St, Spring Valley CA Multifamily Investment
Neighborhood occupancy trends appear resilient and renter demand is deep, according to WDSuite’s CRE market data, positioning this asset for steady screening by investors focused on stabilized suburban San Diego fundamentals.
Located in Spring Valley within the San Diego metro, the immediate neighborhood functions as an inner-suburb renter hub. Renter-occupied housing accounts for a substantial share of units locally, indicating a broad tenant base and supporting leasing stability for multifamily assets. Neighborhood occupancy is in the upper half nationally, which helps underpin cash flow durability at the submarket level (occupancy is measured for the neighborhood, not the property).
Construction patterns in the area skew slightly older, and this property’s 1985 vintage is newer than the neighborhood average year built. That positioning can be competitive versus older stock while still leaving room for targeted modernization to enhance rentability and reduce near-term capital surprises.
Local amenity density is limited for everyday services (cafes, groceries, restaurants), but park access is a relative strength, ranking near the top nationally. For investors, this mix suggests residents may travel a bit farther for retail while benefiting from recreational space, which can aid retention for value-minded renters.
Home values in the neighborhood sit at the higher end nationally, a high-cost ownership context that typically sustains reliance on rental housing. At the same time, rent-to-income metrics indicate some affordability pressure, which places a premium on thoughtful lease management and renewal strategies rather than aggressive near-term pricing.
Within a 3-mile radius, demographics show a largely steady population with modest growth in households and rising incomes over recent years. Projections indicate further increases in household counts alongside smaller household sizes, implying a gradual expansion of the renter pool that can support occupancy stability and absorption for well-positioned multifamily properties.
Safety trends should be evaluated carefully. Relative to other San Diego metro neighborhoods (621 total), crime ranks toward the lower end of the spectrum, indicating elevated incident levels locally. Compared with neighborhoods nationwide, safety falls in the lower quintile, so investors should incorporate security, lighting, and property-level risk mitigation into underwriting.
Recent year-over-year readings point to an uptick in both property and violent offense estimates. While block-level dynamics vary, using comparative historical data and on-the-ground diligence to assess micro-location exposure, visibility, and access controls is prudent.
The employment base spans energy, defense technology, food distribution, wireless, and biotech, supporting a diverse renter pool and commute convenience to major job nodes mentioned below.
- Sempra Energy — energy & utilities (9.2 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (10.3 miles)
- Sysco — food distribution (15.2 miles)
- Qualcomm — wireless & semiconductors (16.4 miles) — HQ
- Celgene Corporation — biotechnology (16.5 miles)
This 1985-vintage, suburban San Diego multifamily asset sits in a neighborhood with a high share of renter-occupied housing and occupancy performance that is competitive nationally, supporting income stability. Based on commercial real estate analysis from WDSuite, the area’s high-cost ownership landscape tends to reinforce sustained rental demand, while limited nearby retail amenities are partially offset by strong park access and proximity to diversified employment centers.
Within a 3-mile radius, household counts have been trending upward and are projected to continue growing even as household sizes edge lower, expanding the renter pool over time. For investors, that backdrop, coupled with a slightly newer-than-average vintage in an older submarket, suggests potential to capture steady demand and unlock value through selective renovations and operating execution, alongside prudent attention to affordability and safety risk management.
- High renter concentration locally supports depth of demand and leasing resilience.
- Neighborhood occupancy sits in the upper half nationally, aiding cash flow stability (neighborhood metric, not property-specific).
- 1985 vintage offers competitive positioning versus older stock with clear value-add and modernization levers.
- High-cost ownership context reinforces reliance on multifamily housing near major job centers.
- Risks: below-metro amenity density, affordability pressure, and elevated crime require conservative underwriting and targeted property-level controls.