| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 39th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9146 Lamar St, Spring Valley, CA, 91977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 1985 |
| Units | 50 |
| Transaction Date | 2020-12-30 |
| Transaction Price | $4,714,500 |
| Buyer | HOBAN HOLDINGS INC |
| Seller | LARNER DEVELOPMENT COMPANY LC |
9146 Lamar St 50-Unit Spring Valley Multifamily
Neighborhood occupancy trends in the mid-90s and a high-cost ownership market point to resilient renter demand, according to WDSuite’s CRE market data. Stable performance in Spring Valley supports income durability while ownership costs tilt households toward multifamily.
Situated in an inner-suburb pocket of Spring Valley, the property benefits from neighborhood occupancy around the mid-90s and rents positioned toward the upper end of regional norms, based on CRE market data from WDSuite. While the immediate area has a lean amenity base relative to the San Diego metro, the submarket’s core need is workforce housing, which helps sustain leasing.
With construction in 1985, the asset skews newer than the neighborhood’s average vintage (late 1970s). That positioning can be competitively favorable versus older stock, though investors should anticipate targeted modernization and system updates to protect rentability and reduce near-term capex variability.
The neighborhood shows a renter-occupied share slightly above half of housing units, indicating meaningful renter concentration and a deeper tenant base for multifamily operators. In a 3-mile radius, population and household counts have grown in recent years, and forecasts call for additional household growth alongside smaller average household sizes—dynamics that typically expand the renter pool and support occupancy stability.
Elevated home values relative to incomes signal a high-cost ownership market. In practice, that tends to sustain renter reliance on multifamily housing, aiding retention and pricing power when units are well-maintained and appropriately positioned.
Safety outcomes in this neighborhood track below national norms, and among 621 San Diego metro neighborhoods the area sits below the metro median for safety. Recent trends point to a modest improvement in violent incidents year over year, offset by a slight uptick in property offenses. Investors typically account for this by emphasizing security-forward operations and resident engagement.
As with any urban-adjacent location, conditions can vary block to block. A property-level focus on lighting, access control, and partnerships with local patrol resources can help support resident retention and leasing consistency over time.
Nearby employment anchors include energy infrastructure, aerospace/defense, foodservice distribution, and semiconductor headquarters, supporting commute convenience and a broad renter base tied to diversified industries: Sempra Energy, L-3 Telemetry & RF Products, Sysco, and Qualcomm.
- Sempra Energy — energy infrastructure (9.3 miles)
- Sempra Energy — energy infrastructure (9.5 miles) — HQ
- L-3 Telemetry & RF Products — aerospace & defense (9.6 miles)
- Sysco — foodservice distribution (13.9 miles)
- Qualcomm — semiconductors (15.6 miles) — HQ
This 50-unit, 1985-vintage asset offers exposure to a renter-driven pocket of Spring Valley where neighborhood occupancy has held in the mid-90s and ownership costs remain elevated versus incomes. According to CRE market data from WDSuite, the area’s renter concentration and high ownership costs have historically supported steady demand, while a newer-than-neighborhood-average vintage can compete effectively with older stock when selectively upgraded.
Investor focus should be on operational execution—unit modernization, curb appeal, and security-forward practices—to capture retention and maintain pricing power in a submarket with lean nearby amenities and below-median safety relative to the metro. Demographic trends within a 3-mile radius point to more households and smaller household sizes over time, which typically expands the renter pool and supports occupancy stability.
- Mid-90s neighborhood occupancy and solid renter concentration support income durability
- 1985 vintage competes well versus older stock with targeted modernization
- High-cost ownership market reinforces depth of the multifamily tenant base
- 3-mile household growth and smaller household sizes expand demand for rentals
- Risks: lean local amenities and below-median safety require active property management