| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 39th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9061 Kenwood Dr, Spring Valley, CA, 91977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 1979 |
| Units | 28 |
| Transaction Date | 2021-08-26 |
| Transaction Price | $6,242,500 |
| Buyer | MF PANDA NR OWNER CA LP |
| Seller | 644 KENWOOD LLC |
9061 Kenwood Dr Spring Valley Multifamily Value-Add
Neighborhood occupancy remains firm with a sizable renter-occupied base, supporting income stability for a 1970s asset, according to WDSuite’s CRE market data. Elevated ownership costs in the area further sustain rental demand and lease retention potential.
This inner-suburb location in Spring Valley offers steady renter demand and occupancy above national medians, per WDSuite. The neighborhood’s renter-occupied share is in the top quartile nationally, indicating a deep tenant base that can support leasing velocity and renewal rates. Median home values sit high relative to incomes (top quartile nationally), creating a high-cost ownership market that tends to reinforce reliance on multifamily housing.
Vintage positioning matters: the property was built in 1972, while the neighborhood’s average construction year is 1979. The older vintage implies near- to mid-term capital planning for systems and interiors, but also opens value-add pathways to enhance competitive standing against slightly newer stock.
Amenity density within the immediate neighborhood ranks near the bottom among 621 San Diego metro neighborhoods, suggesting most daily needs are likely met by short drives rather than walkable retail. For investors, that typically means positioning as auto-oriented workforce housing with emphasis on parking, access, and on-site functionality over premium walkability.
Within a 3-mile radius, WDSuite indicates modest population growth alongside an increase in households and a projected decrease in average household size. This mix generally expands the renter pool and can support occupancy stability as more, smaller households seek rental options. Neighborhood occupancy trends are above the metro median, and NOI per unit performance ranks in the top quartile nationally, underscoring durable income fundamentals.
Safety metrics compare less favorably at the national level, with overall crime percentile readings below the U.S. average. Within the San Diego-Chula Vista-Carlsbad metro, the neighborhood’s crime ranking sits below the metro median among 621 neighborhoods, signaling investors should underwrite security measures and tenant screening accordingly.
Recent trends are mixed: WDSuite shows a year-over-year decline in violent offense rates, while estimated property offenses ticked up modestly. For underwriting, this points to standard risk management—lighting, access control, and partnership with responsive management—rather than assumptions of either rapid improvement or deterioration.
The employment base draws from nearby energy, aerospace/defense, food distribution, and technology anchors, supporting commuter convenience and a broad renter pool for workforce housing. Employers listed below reflect the most relevant nearby drivers.
- Sempra Energy — energy & utilities offices (9.4 miles)
- L-3 Telemetry & RF Products — defense & aerospace (9.5 miles)
- Sempra Energy — energy & utilities (9.6 miles) — HQ
- Sysco — food distribution (13.6 miles)
- Qualcomm — technology (15.4 miles) — HQ
This 28-unit, early-1970s asset offers a value-add angle in a renter-heavy Spring Valley neighborhood where occupancy trends are above national medians. According to CRE market data from WDSuite, neighborhood NOI per unit ranks in the top quartile nationally, and elevated ownership costs in the area help sustain multifamily demand and retention. The 1972 vintage suggests targeted renovations can improve competitive positioning versus slightly newer stock, while maintaining a cost basis aligned with workforce demand.
Within a 3-mile radius, WDSuite shows ongoing population growth, an increase in households, and a projected reduction in household size—factors that generally expand the renter pool and support leasing stability. Amenity density is limited immediately nearby, so the investment thesis leans on auto-oriented convenience, property operations, and access to metro job centers rather than walkable retail. Safety readings sit below national averages, warranting prudent operating practices without assuming outsized volatility.
- Renter-heavy neighborhood and above-median occupancy support income stability
- 1972 vintage provides clear value-add and modernization pathways
- High-cost ownership market reinforces depth of multifamily demand
- 3-mile demographics indicate a growing, diversifying renter pool
- Risks: below-average safety metrics and auto-oriented amenity context