| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 39th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9109 Kenwood Dr, Spring Valley, CA, 91977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 1984 |
| Units | 28 |
| Transaction Date | 2019-08-27 |
| Transaction Price | $6,000,000 |
| Buyer | Chasin Coleman Trust |
| Seller | Robert A & Patricia A Martin |
9109 Kenwood Dr, Spring Valley CA Multifamily Investment
Neighborhood occupancy remains solid and renter demand is supported by a high-cost ownership market, according to WDSuite’s CRE market data. This positioning can help stabilize cash flows even as amenity density nearby is limited.
Set in an inner-suburban pocket of Spring Valley within the San Diego metro, the property benefits from steady neighborhood fundamentals. Occupancy in the surrounding neighborhood is strong relative to national trends (top-quartile nationally), based on CRE market data from WDSuite, which supports income durability for stabilized multifamily assets.
The submarket shows a meaningful renter base, with just over half of housing units renter-occupied. For investors, that renter concentration points to a deep tenant pool and demand resilience for well-managed properties. Median home values in the area are elevated for the region, which tends to sustain reliance on rental housing and can support pricing power and retention for quality units.
Within a 3-mile radius, population and household counts have been expanding, with projections indicating continued household growth and rising incomes. This implies a larger tenant base over time and supports occupancy stability and leasing velocity for professionally managed assets.
Amenity density within the immediate neighborhood is limited (few cafes, groceries, parks, or pharmacies within close range), which places a premium on on-site features, parking access, and drivability to nearby employment nodes. The area’s housing indicators test above the metro median, and neighborhood NOI performance benchmarks competitively versus many U.S. locations, reinforcing investment relevance despite fewer walkable amenities.
Vintage context: the asset’s 1984 construction is slightly newer than the neighborhood’s average stock (late 1970s). This can provide a relative edge on systems and layouts versus older comparables, while still leaving room for selective modernization or value-add upgrades to strengthen competitiveness against newer deliveries.
Safety metrics for the neighborhood are mixed compared with the San Diego metro and the nation. Crime ranks near the lower half among 621 metro neighborhoods, indicating conditions that are below the metro average. Nationally, the neighborhood sits in lower safety percentiles, so prudent asset management and security features may be relevant considerations for investor underwriting.
Recent trend data show a modest year-over-year improvement in violent offense rates, while property offenses remain comparatively elevated, according to WDSuite’s CRE market data. As always, investors should underwrite with an eye to property-level controls, lighting, access management, and resident engagement to support retention.
Proximity to diversified employers supports renter demand by shortening commutes for aerospace/defense, utilities, distribution, biotech, and technology workers included below.
- L-3 Telemetry & RF Products — defense & aerospace offices (9.5 miles)
- Sempra Energy — utilities (9.6 miles) — HQ
- Sysco — foodservice distribution (13.6 miles)
- Qualcomm — telecommunications & semiconductors (15.5 miles) — HQ
- Celgene Corporation — biotechnology (15.7 miles)
The investment case centers on durable occupancy, a sizable renter pool, and the high-cost ownership landscape that supports rental demand. Neighborhood occupancy trends test above national norms, and elevated home values in San Diego County reinforce renter reliance on multifamily housing and can aid lease retention. According to CRE market data from WDSuite, the surrounding neighborhood posts competitive housing performance and solid NOI benchmarks for comparable assets.
Built in 1984, the asset is slightly newer than the neighborhood average, suggesting manageable capital needs with potential upside from targeted value-add upgrades to interiors and common areas. Within a 3-mile radius, population and households have been increasing, with projections pointing to further household growth and income gains — a setup that can expand the tenant base and support occupancy stability over the hold.
- Steady neighborhood occupancy and renter concentration support demand depth and income stability
- High ownership costs in the area reinforce reliance on rentals, aiding pricing power and retention
- 1984 vintage offers value-add potential through selective modernization versus older local stock
- Nearby diversified employers bolster leasing from a broad commuter workforce
- Risks: lower amenity density and below-metro-average safety metrics warrant active management and underwriting discipline