| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 39th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9151 Kenwood Dr, Spring Valley, CA, 91977, US |
| Region / Metro | Spring Valley |
| Year of Construction | 1986 |
| Units | 24 |
| Transaction Date | 2000-10-31 |
| Transaction Price | $421,500 |
| Buyer | MF PANDA NR OWNER CA LP |
| Seller | 631 RANCHO LAS PALMAS LLC |
9151 Kenwood Dr, Spring Valley Multifamily Investment
Renter demand is supported by an inner-suburb location and a high-cost ownership market, according to WDSuite’s CRE market data. Occupancy in the surrounding neighborhood trends above national norms, reinforcing income stability potential for a well-managed asset.
Located in Spring Valley within the San Diego-Chula Vista-Carlsbad metro, the property sits in an inner-suburban neighborhood where multifamily fundamentals are steady. Neighborhood occupancy is strong relative to national benchmarks and has edged higher over the past five years, signaling consistent lease-up and retention drivers at the sub-5% vacancy level noted for the neighborhood, based on WDSuite’s CRE market data.
With a renter-occupied share of housing units at the neighborhood level just over half, the area offers a sizable tenant base that can support demand across a range of unit types. Within a 3-mile radius, household counts have increased and are projected to continue rising alongside income gains, expanding the pool of qualified renters and supporting rent growth and occupancy stability.
Ownership costs are elevated locally—home values track in the upper tier nationally—creating a high-cost ownership market that tends to sustain reliance on rental housing. This backdrop can bolster lease retention and pricing power for competitively positioned Class B assets.
Amenity density measured within the neighborhood boundaries is limited, with few cafes, groceries, or parks per square mile. For investors, this suggests positioning the asset on convenience, access to broader metro job centers, and on-site features, rather than walkable retail.
The asset’s 1986 construction is modestly newer than the neighborhood’s average vintage (1979). That relative youth can help competitiveness versus older stock, while investors should still plan for modernization of aging systems and common areas to capture value-add upside.
Safety indicators for the neighborhood trend below national percentiles overall, and the area ranks 352 out of 621 San Diego metro neighborhoods—indicative of below-metro-average safety conditions. Within the trend data, estimated violent offenses show a year-over-year improvement, while property offenses ticked up modestly. Investors typically account for this with enhanced property security, lighting, and resident engagement, and by emphasizing professional management.
Proximity to established regional employers supports workforce housing demand and commute convenience, which can aid leasing velocity and retention. Nearby employment nodes include energy utilities, defense/aerospace, foodservice distribution, and wireless technology—consistent with broad-based demand drivers referenced below.
- Sempra Energy — energy utility offices (9.45 miles)
- L-3 Telemetry & RF Products — defense & aerospace (9.52 miles)
- Sempra Energy — energy utility offices (9.65 miles) — HQ
- Sysco — foodservice distribution (13.61 miles)
- Qualcomm — wireless technology (15.49 miles) — HQ
This 24-unit, 1986 vintage asset offers a pragmatic value-add opportunity in an inner-suburban San Diego submarket where neighborhood occupancy trends above national norms and the renter base is sizable. The high-cost ownership landscape reinforces sustained reliance on multifamily, while 3-mile demographics point to population and household growth with rising incomes—constructive for rent durability and tenant quality.
According to CRE market data from WDSuite, rents in the broader area sit high on a national basis and neighborhood occupancy has improved over the past five years, supporting income stability with professional management. The 1986 vintage provides competitive positioning versus older local stock, though investors should underwrite capital for systems updates and common-area improvements to capture renovation upside.
- Neighborhood occupancy above national norms supports stable leasing
- High-cost ownership market sustains renter reliance and pricing power
- 3-mile population and household growth expands the qualified renter pool
- 1986 vintage enables value-add via modernization and amenity upgrades
- Risks: below-metro-average safety and limited walkable amenities may require security, on-site features, and targeted leasing