PLAZA DEL REY APARTMENTSFOR SALE | 15 MULTIFAMILY UNITS | NATIONAL CITY, SAN DIEGO, CA
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kidder Mathews and should not be made available to any other person or entity without the written consent of Kidder Mathews.
This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kidder Mathews has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the information and bears all risk for any inaccuracies.
01INVESTMENT SUMMARY
02PROPERTY DESCRIPTION
03FINANCIALS
04COMPARABLES
05MARKET OVERVIEW
KIDDER.COM
JIM NEIL
[email protected] N° 01352736
EXCLUSIVELY LISTED BY
ERIC COMER
858.369.3084eric.comer @kidder.comLIC N° 00842230
MERRICK MATRICARDI
[email protected] N° 01348986
TABLE OF CONTENTS
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5PLAZA DEL REY OFFERING MEMORANDUM KIDDER MATHEWS
01INVESTMENT
SUMMARYTHE OFFERING
INVESTMENT HIGHLIGHTS
LOCATION OVERVIEW
6 KIDDER MATHEWS OFFERING MEMORANDUM PLAZA DEL REY
7PLAZA DEL REY OFFERING MEMORANDUM KIDDER MATHEWS
Kidder Mathews is pleased to present Plaza Del Rey Apartments for sale in National City’s transforming downtown neighborhood.
THE OFFERING
Completed in the Spring of 2019, Plaza Del Rey Apartments is a new construction complex situated in the growing National City rental market with walkable proximity to schools, shopping and community amenities. The property benefits from easy access to transportation and employment centers including the South Bay Military bases.
Plaza Del Rey is fully leased and consists of nine 2-bedroom/2-bath and six 3-bedroom/2-bath floorplans with in-unit washer and dryers.
INVESTMENT SUMMARY
Interior amenities include granite countertops, stainless steel appliances, faux hardwood floors, large private balconies and central air and heating.
National City is experiencing unprecedented growth and will continue to transform in coming years with Chula Vista's Bay Front redevelopment, new multifamily & hospitality development, improving retail and enticing new restaurants.
The well-designed, high quality architecture, large floors plans and walkable location makes this a prime investment opportunity.
PROPERTY OVERVIEW
Address 900 E. 12th Street, National City, CA 91950
No. of Units 15
NRSF ±14,478
Site Area 16,120 SF / 0.37 AC
Year Built 2019
Price $5,750,000
Price / Unit $383,333
Price / SF $397
Cap Rate 4.12%
Market Cap Rate 4.42%
GRM 15.9
Market GRM 15.2
Beautifully constructed apartment homes, walking distance to retail, restaurants and services
8 KIDDER MATHEWS OFFERING MEMORANDUM PLAZA DEL REY
NEW CONSTRUCTION Brand new, turn-key building delivered in April 2019
FULLY LEASED stabilized apartment building
LARGE FLOOR PLANS two and three-bedroom floorplans average 965 square feet
WALK SCORE of 84, considered very walkable
ABUNDANT RETAIL Walmart, Smart & Final, 99 cent store, Big Lots & Joann Fabrics are walking distance
CONVENIENT TO RESTAURANTS walkable to Panda Express, Chuck E Cheese's, 85C Bakery Cafe, IHOP, McDonald's, El Pollo Loco among others
GREAT FREEWAY ACCESS located just east of the 5 freeway and west of the 805 freeway
TRANSPORTATION ACCESS located approximately 1-mile from the 8th Street Trolley station, served by the Blue Line and connecting to downtown San Diego
NO RENT CONTROL Since the property is newer than 15-years old, it is not subject to AB 1482, the new California rent control law
FAMILY FRIENDLY location near Public Library and Kimball Park with arts center, amphitheater , baseball fields, tennis and basketball courts and skate park.
CLOSE TO NAVY BASE US Naval Reservation Fleet & Industrial Supply Center, commonly referred to as 32nd Street are just 2 miles from the property
INVESTMENT HIGHLIGHTS
PLAZA DEL REY OFFERING MEMORANDUM KIDDER MATHEWS 9
10 KIDDER MATHEWS OFFERING MEMORANDUM PLAZA DEL REY
SUBJECT PROPERTY
PLAZA BLVD
KIMBALL PARK & REC
LIBRARY
HIG
HLA
ND
AV
E
John A Otis Elementary School
National City Middle School
Southwestern Community College
11PLAZA DEL REY OFFERING MEMORANDUM KIDDER MATHEWS
#2 RATED AS AMERICA'S MOST PLAYFUL CITIES
1 out of 10 CARS IMPORTED TO THE U.S. PASS THROUGH THE PORT IN NATIONAL CITY
LARGEST U.S. NAVAL BASE ON TH WEST COAST IS LOCATED IN NATIONAL CITY
1ST AUTO MALLS IN THE WORLD, "NATIONAL CITY MILE OF CARS" LOCATED IN NATIONAL CITY
2ND OLDEST CITY IN SAN DIEGO COUNTY
QUICK NATIONAL CITY FACTS
LOCATION OVERVIEW
National City, San Diego County’s second oldest city, is truly “in the center of it all,” and is a thriving bi-national region of 5 million consumers.
The City’s competitive edge is its central location, transportation network, and business industry.
National City is 10 minutes from everywhere and positioned for prosperity, with proximity to the San Diego Bay, US-Mexico border, downtown San Diego, international airport, rail, San Diego State University, and other colleges and universities
EXCELLENT ACCESS TO TRANSPORTATION
National City is circled by interstates 5 and 805, and highways 54 and 15. The San Diego Trolley and the Metropolitan Transit System (MTS) serves National City 7 days a week. These transportation resources conveniently connect the City to the region.
THRIVING BUSINESS CLIMATE
National City is home to over 3,000 businesses – a remarkable number for a city with a population of 61,115. As one of the healthiest business climates in Southern California, National City businesses come from various industries and sectors. Business types range from small family – owned operations to multi-million dollar corporations. National City also boasts the highest sales tax per capita in the County.
PORT CITY
The National City Marine Terminal, part of the Unified Port of San Diego is the most advanced vehicle import and export facility on the West Coast, processing more than 270,000 vehicles annually. Lumber is also imported from the Pacific Northwest for construction use throughout the region.
National City’s port area extends three miles along San Diego Bay and is part of the largest U.S. Navy installation on the West Coast.
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13PLAZA DEL REY OFFERING MEMORANDUM KIDDER MATHEWS
02PROPERTY
DESCRIPTIONPROPERTY SUMMARY
AMENITIES
FLOOR PLANS
MAPS & AERIALS
14 KIDDER MATHEWS OFFERING MEMORANDUM PLAZA DEL REY
15PLAZA DEL REY OFFERING MEMORANDUM KIDDER MATHEWS
PROPERTY SUMMARY
Address 900 E. 12th StreetNational City, CA 91950
No. of Units 15
NRSF ±14,478 SF
Year Built 2019
Site Area 16,120 SF / 0.37 AC
Zoning MXC-2
Parcel No. 561-011-06 & 07
Parking 30 Total Spaces; Including 10 Tuck-Under Spaces
Parking Ratio 2.0 Per Unit
CONSTRUCTION SPECIFICATIONS
No. of Buildings 1
No. of Floors 3
Structure Wood Frame
Roof Pitched, composition shingle
Siding Stucco
Access Two Stairwells with Exterior Breezeways to units
PROPERTY DESCRIPTION
16 KIDDER MATHEWS OFFERING MEMORANDUM PLAZA DEL REY
COMMUNITY AMENITIESMODERN architecture
SECURED entry at stairwells to unit access
ATTRACTIVE, low-maintenance landscaping
WIDE exterior breezeways provide additional views
TUCK-UNDER parking
HANDICAPPED accessible units
ELEVATOR lift for wheelchairs to first floor units
LOW MAINTENANCE/HIGH VALUE SPECIFICATIONSNO ON-SITE MANAGEMENT REQUIREMENT
UTILITIES
• Water– submeteredMinimal house meter
• Gas/Electric – Individual metersMinimal house meter (elevator lift, select exterior lightsTankless water heaters in 2-bedroom unitsIndividual hot water heaters in 3-bedroom units
EXTERIOR
• Alumawood Trellises• Vinyl Railings + Fencing• Galvanized Handrails• Stucco Exterior• Foam Shutters• Minimal Landscape maintenance• Class A Asphalt shingles with two layers of 30LB felt
underlaymentINTERIOR
• No Carpet• Gypcrete, LVP with Soundmat throughout• Solid-surface countertops• Fibercare fiberglass tub/showers• Interior paint – Eggshell (no flat paint)• Water-Saving / Low-Flow Plumbing Fixtures• Stainless Steel Appliances• Single-Basin Stainless Steel Kitchen Sinks• LED Lighting
PLAZA DEL REY OFFERING MEMORANDUM KIDDER MATHEWS 17
18 KIDDER MATHEWS OFFERING MEMORANDUM PLAZA DEL REY
FLOOR PLANS
2 BR / 2 BA
Unit TypeNo. of Units SF
Pro Forma Rent
Pro Forma Rent / SF
2 Bedroom/ 2 Bathroom 9 900 $1,945 $2.16
Total 8,100 $17,505
3 BR / 2 BA
Unit TypeNo. of Units SF
Pro Forma Rent
Pro Forma Rent / SF
2 Bedroom/ 2 Bathroom 6 1,063 $2,345 $2.21
Total 6,378 $14,070
19PLAZA DEL REY OFFERING MEMORANDUM KIDDER MATHEWS
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UPLighted Exit SIGNAGEper Electrical Plan
UP
4" Standpipe per FireSprinkler Plan
- 2X4 Exterior Stud Wall w/ 7/8" Stucco (Both Sides)
- 2X4 Exterior Stud Wall w/ 7/8" Stucco
- 2X4 Interior Stud Wall w/ 1/2" Gyp-Board
- 2X6 Interior Stud Wall w/ 1/2" Gyp-Board
- "1 Hour Rated" 2X6 Interior Stud Wall w/ 5/8" Type X Gyp-Board (Both Sides)
- "1 Hour Rated" 2X4 Interior Stud Wall w/ 5/8" Type X Gyp-Board (Both Sides)
- 42" High Exterior Vinyl Deck Railing
- 6' High Vinyl Privacy Fence
- 6X6 Post w/ 7/8" Stucco
WWaallll LLeeggeenndd
- 8" CMU Block Wall w/ Stucco Exterior
- 2X4 Exterior Stud Wall w/ Cement Lap Siding Exterior & 7/8" Stucco Interior
- 2X4 Exterior Stud Wall w/ Cement Lap Siding
1'-6"
2'-0
"
1'-6"
L
PROVIDE A MINIMUM CLEARANCE OF24" IN FRONT OF THE TOILET.
PROVIDE MINIMUM TOILETCLEARANCE OF 15" FROM THECENTERLINE ON BOTH SIDES OF THETOILET.
(PROVIDE LARGER CLEARANCES ALLLOCATIONS AS SHOWN ON PLANS.)
TYP MINIMUM TOILET CLEARANCES
- 12" Drop Soffit - See 5AD-2
5AD-2
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FFLLOOOORR PPLLAANN NNOOTTEESS
1. ALL DIMENSIONS TO FACE OF STUD (F.O.S.) U.N.O.
2. WRITTEN DIMENSIONS TO PREVAIL OVER SCALING OR DRAWINGS. SUBCONTRACTOR TO VERIFY ALL DIMENSIONS PRIOR TOCONSTRUCTION AND IMMEDIATELY NOTIFY DEVELOPER OR ARCHITECT OF ANY INCONSISTENCIES.
3. REFER TO BUILDING SECTIONS, STAIR SECTIONS AND/OR INTERIOR ELEVATIONS FOR CLARIFICATION AND DIMENSIONS OF SOFFITEDAREAS AND POTSHELVES.
4. ALL WINDOWS TO HAVE VINYL FRAMES. SEE EXTERIOR ELEVATIONS FOR DIRECTION OF OPERATION AND LOCATION OF MUNTIN BARS (ALLOPERABLE WINDOWS TO HAVE SCREENS).
5. ALL GLASS IN DOORS AND SLIDING GLASS DOORS TO BE TEMBERED. PROVIDE TEMPERED GLASS WHERE BOTTOM EDGE IS LESS THAN 60"FROM WALKING SURFACE AT 1) STAIRWAYS, 2) SHOWERS AND TUBS, AND 3) WITHIN A 24" ARC OF A DOOR IN CLOSED POSITION (CBC).
6. REFER TO INTERIOR ELEVATIONS DESIGNATED BY THIS SYMBOL
7. PROVIDE SOUND INSULATION AND CAULKING UNDER PLATES IN SHOWER / TUB WALLS ADJACENT TO LIVING AREAS AND BETWEENLAUNDRY / LIVING WALLS.
- SUFFICIENT MANUVERING SPACE: ACCESSIBILITY CLEARANCES PER CBC, (FOR DOORS; PROVIDE FLOOR AND LANDINGS REQUIRED ONEACH SIDE; MAXIMUM LANDING SLOPE 2% AWAY FROM THRESHOLD; MINIMUM LANDING LENGTH SHALL BE 36" IN DIRECTION OF TRAVEL;MAXIMUM THRESHOLD 0.5" ALL OTHER DOORS.)
- EMERGENCY EGRESS WINDOW WITH MIN. CLEAR OPENABLE AREA OF 5.7 S.F. CLEAR OPENABLE WIDTH OF 20" AND CLEAR OPENABLEHEIGHT OF 24" PER WINDOW MANUFACTURER LITRATURE AND BOTTOM OF THE CLEAR OPENING NOT GREATER THAN 44" FROM FLOOR
- SILL: PLASTER FINISH, U.N.O. SLOPE 1/2" / FOOT MINIMUM
June 6th, 2017
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SCALE:
N0. REVISIONS DATE
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Portable Fire Extinguishers will be installed inthe building in accordance with Section 906.
1Plan CheckCorrections 10/10/17
Plan CheckCorrections2 2/1/18
N
SITE PLAN
3 BR/ 2 BA 2 BR/ 2 BA 3 BR/ 2 BA2 BR/ 2 BA 2 BR/ 2 BA
First Floor Plan - 3 stories of 5 units
20 KIDDER MATHEWS OFFERING MEMORANDUM PLAZA DEL REY
E 12TH STREET
SUBJECT PROPERTY
HIG
HLA
ND
AV
E
E 13TH STREET
E PLAZA BLVD
S N
AM
ES
TR
AS
SE
RO
AD
N
SAN DIEGO BAY
HARBOR DR
NATIONALCITY
GREENWOODMEMORIAL PARK
SUBJECT PROPERTY
SAN DIEGO
LOGANHEIGHTS
CORONADO
GRANTHILL
GASLAMPQUARTER
SOUTHCREST
28
TH
ST
32
ND
ST
DIVISION ST
E 8TH ST
HIG
HLA
ND
AV
E
NA
TIO
NA
L CIT
Y B
LVD
E PLAZA BLVD
OCEAN VIEW BLVD
PLAZA DEL REY OFFERING MEMORANDUM KIDDER MATHEWS 21
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23PLAZA DEL REY OFFERING MEMORANDUM KIDDER MATHEWS
03FINANCIALS
Fully stabilized new construction building with below market rents
24 KIDDER MATHEWS OFFERING MEMORANDUM PLAZA DEL REY
25PLAZA DEL REY OFFERING MEMORANDUM KIDDER MATHEWS
FINANCIALS
INVESTMENT SUMMARY
Purchase Price $5,750,000
Price / Unit $383,333
Price / SF $397
Down Payment $2,250,000
% Down 39.1%
Cap Rate 4.12%
GRM 15.9
Market Cap 4.42%
GRM 15.2
INCOME SUMMARY
# Units Unit Type Sq. Ft. Total Sq.Ft.In Place$ Rent $/Sq.Ft.
Total In Place Rent
Turnover$ Rent
Turnover$ Rent
9 2BR/ 2BA 900 8,100 $1,845 $2.05 $16,605 $1,945 $17,5056 3 BR/ 2BA 1,063 6,378 $2,245 $2.11 $13,470 $2,345 $14,070
15 Total/Avg 965 14,478 $2,005 $2.08 $30,075 $2,105 $31,575
ANNUALIZED GROSS INCOME $360,900 $378,900
Vacancy/Collection Loss 3.00% ($10,827) ($11,367)
ADJUSTED GROSS INCOME $350,073 $367,533
Utility Bill Back (RUBS) Income $4,500 $4,500Parking and Pet Rent $900 $900Late Charges, Security Deposits, Credit Check $3,501 $3,675
EFFECTIVE GROSS INCOME $358,974 $376,608
Property Expenses: $/Unit ProformaProp taxes 1.13120% $4,336 $65,044Fixed Assessment $28 $420Insurance $390 $5,855
Controllable ExpensesAdministration $250 $3,750Payroll & Burden $0 $0Repairs, Maint & Turnover $1,000 $15,000Utilities (G&E, Water, Phone, Cable) $776 $11,640Landscaping, Pest, Alarm $172 $2,580Professional Management (5%) $1,197 $17,949
Total Expenses $122,238 ($122,238) ($122,238)Exp./unit: $8,149
Exp/psf: $8.44
Exp. % of SGI: 34.1%
NET OPERATING INCOME $236,736 $254,371Amortization 30Rate 3.86%Debt Service $3,500,000 @ $198,979 $198,979CASH FLOW $37,757 $55,392
Return on Down Payment 1.68% 2.46%DCR 1.19 1.28
JURISDICTION OF TAXES:
Millage rate: 1.13120%
Fixed assessments: $420
Fiscal year 2019-2020
* Property taxes are reassessed at property sale
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27PLAZA DEL REY OFFERING MEMORANDUM KIDDER MATHEWS
04COMPARABLES
RENT COMPARABLES
SALE COMPARABLES
28 KIDDER MATHEWS OFFERING MEMORANDUM PLAZA DEL REY
RENT COMPARABLES
01 01
SUBJECT Plaza Del Rey
01 The Kimball
02 Plaza 1640
03 12th St Lofts
04 Harborview
05 Del Oro on Broadway
06 Sereno
Address 900 E. 12th Street 1110 E 8th St 1640 E Plaza Blvd 45 E 12th Street 819 D Avenue 986 Broadway 944 3rd Ave
City National City National City National City National City National City Chula Vista Chula Vista
# of Units 15 47 77 61 81 79 115
Built 2019 2019 2019 2012 2010 2017 2018
1 BR/ 1 BA Rent $1,795 - $1,995 $1,745 - $1995 $1,895 $1,795 $2,095 $1,899
SF 580-821 657-800 879 727 725 690
Rent/SF $2.82 $2.59 $2.16 $2.47 $2.89 $2.75
2 BR/ 2 BA Rent $1,845 $2,300-$2,725 $2,095 - $2,695 $2,395 $2,195 -$2,425 $2,395 $2,199
Avg SF 900 885 - 1,206 900 - 1140 993 964-1,251 1,085 972
Rent/SF $2.05 $2.47 $2.34 $2.41 $1.94 - $2.28 $2.21 $2.26
3 BR/ 2 BA Rent $2,245 $2,695 - $3,295 $2,500 $2,745 $2,649
Avg SF 1,063 1,256-1,283 1,521 1,788 1,227
Rent/SF $2.11 $2.29 $1.64 $1.54 $2.16
Community Amenities
Secured Access
Swimming Pool, Spa, BBQ Area, Fitness Center, Study Room, Sun Deck
Courtyard, Fire pit, BBQ Area
Fitness Center, Gated Community, TV Lounge
Fitness Center, Gated Community, BBQ Area, Sun Deck
Swimming Pool, Spa, Fitness Center, BBQ Area, Dog Park, Resident Lounge
Swimming Pool, Spa, Fitness Center, Clubhouse with kitchen, TV/video room
LaundryIn-Unit Washer/Dryer In-Unit Washer/Dryer In-Unit Washer/Dryer In-Unit Washer/Dryer In-Unit Washer/Dryer
Stackable Full Size Washer/Dryer
In-Unit Washer/Dryer
Parking
Tuck-Under and Surface Parking
Gated Parking Garage & Surface Spaces
Surface ParkingGated Underground Parking Garage
Gated Underground Parking Garage
Secured Parking Garage
1-car garages
Notes
95% leased
25% leased Offering $100 off for 6,9 or 12 month lease plus $500 gift card
Recently completed. In lease-up. Offering 1.5 month concession
01
SAN
DIEG
O
BAY
MOSS ST
NATIONALCITY
Greenwood Memorial Park
02
03
SUBJECT PROPERTY
0401
05
06
CHULAVISTA
SKYLINE
BONITA
PARADISEHILLS
BAY \TERRACES
LINCOLNPARK
San Diego Bay
National WildlifeRefuge
E J ST
E PALOMAR ST
BR
OA
DW
AY
2N
D A
VE
DIVISION ST
NA
TT
ION
AL C
ITY
BLV
D
E 18TH ST
LOGAN AVES 4
3R
D S
T
S 4
0T
H S
T
EU
CLID
AV
ELEGEND
1 The Kimball
2 Plaza 1640
3 12th Street Lofts
4 Harborview
5 Del Oro on Broadway
6 Sereno
01
SAN
DIEG
O
BAY
MOSS ST
NATIONALCITY
Greenwood Memorial Park
02
03
SUBJECT PROPERTY
0401
05
06
CHULAVISTA
SKYLINE
BONITA
PARADISEHILLS
BAY \TERRACES
LINCOLNPARK
San Diego Bay
National WildlifeRefuge
E J ST
E PALOMAR ST
BR
OA
DW
AY
2N
D A
VE
DIVISION ST
NA
TT
ION
AL C
ITY
BLV
D
E 18TH ST
LOGAN AVES 4
3R
D S
T
S 4
0T
H S
T
EU
CLID
AV
ELEGEND
1 The Kimball
2 Plaza 1640
3 12th Street Lofts
4 Harborview
5 Del Oro on Broadway
6 Sereno
PLAZA DEL REY OFFERING MEMORANDUM KIDDER MATHEWS 29
30 KIDDER MATHEWS OFFERING MEMORANDUM PLAZA DEL REY
SALE COMPARABLES
01 01
01 01
SUBJECT Plaza Del Rey
01 Shane Park Plaza
02 4263-4269 35th St
03 502 Camden Yards
04 Lakeshore Apartments
05 Lincoln Rock Apartments
AddressNeighborhood
900 E. 12th Street
National City
240-260 S Rancho Santa Fe
San Marcos
4263-4269 35th St
City Heigths
502 Camden Yards Way
El Cajon
12330 Lakeshore Drive
Lakeside
917 W Lincoln Road
Escondido
# of Units 15 23 6 11 6 9
Rentable SF 14,478 15,882 5,100 20,811 5,000 11,934
Year Built 2019 2018 2019 2016 2018 2019
Sale Date FOR SALE 9/4/2019 7/13/2019 10/31/2018 10/1/2019 FOR SALE
Sale Price $5,750,000 $6,601,148 $2,250,000 $5,400,00 $1,635,000 $5,350,000
Price / Unit $383,333 $287,006 $375,000 $490,909 $272,500 $594,444
Price / SF $397 $416 $441 $259 $327 $448
Unit Mix9 - 2BR/2BA 6 - 3BR/2BA
23 - 1BR/1BA2 - 1BR/1.5BA + Den 4 - 2BR/1.5BA
9 - 3BR/3.5BA Townhome with attached 2 Car Garage
5 - 2BR/2BA 1 - 3b/2BA
9 - 3BR/2.5BA Townhome with attached 2 Car Garage
05
02
01
03
SUBJECT PROPERTY
PACIFIC OCEAN
SAN DIEGO
CHULA VISTA
Daley Ranch
04
NATIONAL CITY
ESCONDIDO
SCRIPPS RANCH
RANCHO SANTA FE
CARLSBAD
Mission Trails
Regional Park
Cleveland National
Forest
LEGEND
1 Shane Park Plaza
2 4236-4269 35th Street
3 502 Camden Yards
4 Lakeshore Drive Apts
5 Lincoln Rock
PLAZA DEL REY OFFERING MEMORANDUM KIDDER MATHEWS 31
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33PLAZA DEL REY OFFERING MEMORANDUM KIDDER MATHEWS
05MARKET
OVERVIEWNATIONAL CITY
REGIONAL OVERVIEW
34 KIDDER MATHEWS OFFERING MEMORANDUM PLAZA DEL REY
62,365TOTAL POPULATION
31MEDIAN AGE
3.81AVERAGE FAMILY SIZE
$62,969AVERAGE HOUSEHOLD INCOME
62%RENTER OCCUPIED UNITS
$544,750AVERAGE HOME VALUE
PARADISE VALLEY HOSPITAL 1,138 EMPLOYEES
NATIONAL CITY ELEMENTARY SCHOOL 462 EMPLOYEES
SWEETWATER UNION HIGH SCHOOL 400 EMPLOYEES
WALMART 400 EMPLOYEES
NMS MGMT 300 EMPLOYEES
DIXIELINE PROBUILD 295 EMPLOYEES
CITY OF NATIONAL CITY 275 EMPLOYEES
BALL AUTOMOTIVE GROUP 250 EMPLOYEES
LARGEST CIVILIAN EMPLOYERS
NATIONAL CITY DEMOGRAPHICS
COMPANIES HEADQUARTERED IN
SAN DIEGO
SAN DIEGO MARKET OVERVIEWSTRONG REGIONAL FUNDAMENTALS
Adding to the quality of life, San Diego has the third lowest average commute time in the U.S.
San Diego gained 72,000 degree holders in 2014 alone - more than any other major metro area in the country
Year-over-year, the region’s median home price continued to climb, growing by 2.6%
There are more than 25 incubators and accelerators in San Diego, lending themselves to the region’s small business ecosystem
San Diego is home to the fifth-best rated business community in the country, according to Forbes
The region’s unemployment rate was 3.5% in February, down from a revised 3.8% in January, and unchanged from the year-ago estimate of 3.5%
San Diego ranks second nationally in best return on investment in local public companies with the opportunity to compete for funding to enhance business development growth.
The largest employment gain over the year occurred in educational and healthcare services, which added 6,900 jobs
Tech footprint: Approximately 40 percent of all 2016 leasing transactions were made by tech firms
Per National Climatic Data Center, San Diego is ranked number 4 with number of sunshine hours per year
San Diego is the #1 most patent intense region in U.S., ranking third worldwide
San Diego has the highest concentration of life sciences lab space in the U.S. - more than San Francisco and Boston combined
Show me the money: In 2017, more than one-third of San Diego’s total VC investment - or $420 million - went to tech firms
Rated #1 in concentration of military/defense assets in the world
The only North American - city named among National Geographic’s “World Smart Cities” (2015)
80-plus educational and research institutes in the region
Ranked second, as America’s most playful cities according to Sperling’s
The backbone of San Diego’s economy: international trade, manufacturing, military and tourism
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