| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 39th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9121 Kenwood Dr, Spring Valley, CA, 91977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 1978 |
| Units | 52 |
| Transaction Date | 2021-08-26 |
| Transaction Price | $12,332,500 |
| Buyer | 9121 KENWOOD CA LP |
| Seller | 644 KENWOOD LLC |
9121 Kenwood Dr, Spring Valley Multifamily Investment
Neighborhood occupancy has remained firm with a sizable renter base, supporting stable leasing dynamics according to WDSuite’s CRE market data. Positioning in San Diego County provides durable renter demand with room for operational optimization.
Spring Valley’s inner-suburban setting offers access to the San Diego employment base, while local retail density inside the neighborhood is limited. For multifamily investors, that combination can attract residents seeking relative value within the metro, even if daily conveniences cluster in nearby commercial corridors rather than immediately within the block group cluster.
Neighborhood occupancy is above the national median (73rd percentile nationwide), signaling demand resilience at the neighborhood level rather than at the property level. Median contract rents in the neighborhood benchmark high versus national peers (upper percentiles), yet the rent-to-income ratio sits below national norms, a mix that can aid lease retention and reduce turnover volatility for well-managed assets.
Renter-occupied housing accounts for a majority share of units in the neighborhood, indicating a deep tenant base and consistent multifamily demand. Home values score in the higher national percentiles, reflecting a high-cost ownership market in San Diego; this typically supports renter reliance on multifamily housing and can sustain pricing power for competitive product.
Within a 3-mile radius, population and household counts have expanded over the past five years and are projected to continue growing, which enlarges the potential renter pool and supports occupancy stability. Median incomes within this 3-mile area have trended higher as well, aligning with the area’s ability to support mid-market rents without overextending resident budgets.
Safety indicators for the neighborhood track below national averages, with overall crime measures in lower national percentiles. Interpreting rank and percentile together suggests conditions that are less favorable than many U.S. neighborhoods, even as trends can vary by offense type and over time.
Relative to the San Diego-Chula Vista-Carlsbad metro’s 621 neighborhoods, crime ranks place this area on the weaker side of the spectrum, while nationally the neighborhood sits in lower safety percentiles. Notably, recent data shows a year-over-year improvement in violent-offense estimates, which is a constructive directional signal, though investors should still underwrite prudent security and insurance assumptions.
Proximity to established employers supports workforce housing demand and commute convenience, particularly to defense & aerospace, energy utilities, food distribution, wireless technology, and biopharma offices noted below.
- L-3 Telemetry & RF Products — defense & aerospace offices (9.5 miles)
- Sempra Energy — energy utility (9.6 miles) — HQ
- Sysco — foodservice distribution (13.6 miles)
- Qualcomm — wireless technology (15.5 miles) — HQ
- Celgene Corporation — biopharma (15.7 miles)
This 52-unit asset in Spring Valley benefits from neighborhood occupancy that sits above the national median and a majority share of renter-occupied housing units, pointing to a durable tenant base and steady leasing. Elevated home values across the neighborhood relative to national peers indicate a high-cost ownership market, which tends to reinforce reliance on rental housing and can support pricing power for competitive, well-managed product.
Within a 3-mile radius, population and household growth expand the prospective renter pool, while rising incomes provide support for rent levels and retention. According to CRE market data from WDSuite, neighborhood rent benchmarks are high versus national norms even as rent-to-income levels remain comparatively manageable, suggesting room for disciplined revenue management. Principal underwriting considerations include modest local retail density and safety metrics that trail national averages, both of which warrant operational focus.
- Stable neighborhood occupancy and sizable renter concentration support demand
- High-cost ownership market underpins renter reliance and pricing power
- 3-mile population and household growth expand the tenant base
- Data-backed rent positioning with comparatively manageable rent-to-income ratios
- Risks: limited nearby retail density and below-average safety indicators