| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Fair |
| Demographics | 25th | Poor |
| Amenities | 16th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9059 Harness St, Spring Valley, CA, 91977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 1987 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | $1,035,000 |
| Buyer | COURTNEY JAMES L |
| Seller | SAN DIEGO DIVERSIFIED BUILDERS SERVICES |
9059 Harness St Spring Valley Multifamily Investment
This 27-unit property leverages Spring Valley's exceptional rental share of 77.3%, ranking in the top 1% nationally among neighborhoods. Strong renter demand fundamentals support occupancy stability in San Diego's multifamily market, according to CRE market data from WDSuite.
Spring Valley demonstrates strong rental market fundamentals with 77.3% of housing units renter-occupied, ranking 26th among 621 San Diego metro neighborhoods and placing in the 99th percentile nationally. This exceptional rental concentration creates a deep tenant pool and supports sustained multifamily demand. Median contract rents of $1,392 provide affordability relative to the broader San Diego market, while recent 33% rent growth over five years indicates pricing power potential.
The neighborhood's 1981 average construction year aligns with the subject property's 1987 vintage, suggesting consistent building stock that may present value-add renovation opportunities for investors seeking to modernize units and capture rent premiums. Demographics within a 3-mile radius show household income growth of 34.5% over five years, reaching a median of $90,883, which supports rental affordability and tenant retention.
Occupancy rates remain stable at 94.4%, ranking above metro median among San Diego neighborhoods and in the 67th percentile nationally. While amenity density is limited with minimal retail and dining options nearby, the area offers strong park access with 3.87 parks per square mile, ranking in the 98th percentile nationally. Home values averaging $448,500 with 28% five-year appreciation reinforce rental demand by maintaining elevated ownership costs that keep households in the rental market.
Property crime rates require investor attention, with the neighborhood ranking 454th among 621 San Diego metro neighborhoods for property offense rates. While this places the area in the 9th percentile nationally, recent trends show a 13.2% increase in property crime, ranking in the 31st percentile for year-over-year change patterns. Violent crime rates rank similarly at 472nd among metro neighborhoods, placing in the 10th percentile nationally.
Investors should factor security considerations into operational planning and tenant screening processes. The crime profile suggests potential benefits from enhanced property management practices, security measures, and community engagement initiatives that could support tenant retention and property positioning within the submarket.
Major corporate employers within commuting distance support workforce housing demand, led by energy and technology companies that provide stable employment for area renters.
- Sempra Energy — energy services (8.9 miles)
- Sempra Energy — energy services (9.2 miles) — HQ
- L-3 Telemetry & RF Products — defense technology (10.5 miles)
- Qualcomm — technology (16.6 miles) — HQ
This Spring Valley property capitalizes on exceptional rental market dynamics, with 77.3% renter-occupied housing units ranking in the top 1% nationally. The 1987 construction year presents value-add renovation potential to capture rent growth in a submarket where median rents increased 33% over five years. Demographics within a 3-mile radius show household income growth of 34.5% and median earnings of $90,883, supporting rental affordability and lease retention.
Occupancy stability remains above metro averages at 94.4%, while elevated home values averaging $448,500 reinforce rental demand by maintaining ownership cost barriers. Commercial real estate analysis from WDSuite indicates the neighborhood's rental concentration provides sustained multifamily fundamentals despite limited retail amenities.
- Exceptional 77.3% rental share ranks top 1% nationally among neighborhoods
- Value-add potential with 1987 vintage in growing rent environment
- Stable 94.4% occupancy rates above San Diego metro median
- Rising household incomes support rental affordability and retention
- Risk consideration: Crime rates require enhanced security and management focus