| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 71st | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 31932 Del Cielo Este, Bonsall, CA, 92003, US |
| Region / Metro | Bonsall |
| Year of Construction | 1985 |
| Units | 40 |
| Transaction Date | 2013-03-20 |
| Transaction Price | $3,650,000 |
| Buyer | DUBLIN CONDO LLC |
| Seller | INSIGHT BONSALL LLC |
31932 Del Cielo Este Bonsall Multifamily Investment
Neighborhood multifamily occupancy trends sit around the low 90s, supporting steady leasing in a high-cost ownership market, according to WDSuite s CRE market data. The investment case centers on durable renter demand reinforced by elevated home values and household incomes in the surrounding area.
Bonsall is a suburban pocket within the San Diego Chula Vista Carlsbad metro with a C neighborhood rating (ranked 466 among 621 metro neighborhoods). While amenity density is limited locally, residents typically rely on nearby nodes for daily services, which places a premium on on-site functionality, parking, and commute access from an investor perspective.
Home values in the neighborhood sit in the high end of the national distribution (roughly top percentile tiers nationally), and median household incomes are also elevated. In practice, this high-cost ownership context helps sustain reliance on rental housing and can support pricing power and retention, particularly for well-managed units. Neighborhood rent levels are likewise above national norms, yet rent-to-income ratios indicate manageable affordability pressure, which is constructive for lease stability.
Schools test around the 70th percentile nationally, an advantage for family renters relative to many peer areas. The neighborhood s renter concentration (share of housing units that are renter-occupied) is modest compared with more urban submarkets, implying a smaller but durable tenant base; investors should expect demand to be driven by households seeking quality rentals in a predominantly owner-occupied area.
Demographics within a 3-mile radius show flat to slightly softer population trends in recent years but a projected increase in households over the next five years, suggesting a larger tenant base ahead and support for occupancy stability. Against metro peers, these indicators position the area as competitive on incomes and school quality, with demand dynamics linked more to regional employment access than to immediate walkable amenities.
Asset vintage and implications: Built in 1982, the property is slightly older than the neighborhood s average vintage. Investors should underwrite for ongoing capital planning and selective renovations to maintain competitiveness versus newer stock, with potential value-add upside through interior and common-area upgrades.
Safety indicators for the neighborhood track below national averages, and the area ranks in the lower tier among the 621 neighborhoods in the San Diego metro. This suggests investors should factor security, lighting, and property management presence into operations to support resident confidence and retention.
Recent trend data point to year-over-year increases in both property and violent offenses. While conditions can vary by block and over time, a prudent underwriting approach would incorporate current comps, insurance considerations, and resident-experience measures rather than assuming metro-wide norms.
Regional employment is anchored by life sciences, energy, food distribution, and technology offices within commuting distance, supporting workforce renter demand and lease retention for professionally managed units. The employers below reflect the most proximate drivers of daily commutes to the area.
- Gilead Sciences biotech/pharma (7.7 miles)
- NRG Energy energy (13.1 miles)
- Sysco food distribution (26.3 miles)
- Qualcomm wireless & semiconductors (27.4 miles) HQ
- Celgene Corporation biotech/pharma (28.2 miles)
This 40-unit, 1982-vintage asset in Bonsall benefits from a high-cost ownership landscape and elevated household incomes, which historically support renter reliance and steady absorption. Neighborhood multifamily occupancy trends sit near the low 90s, and, based on CRE market data from WDSuite, rent levels outperform national norms while rent-to-income ratios remain comparatively manageable a constructive setup for retention if operations and product quality are maintained.
The surrounding 3-mile area shows flat recent population but an outlook for household growth over the next five years, indicating a larger tenant base and support for leasing stability. Given the property s older vintage relative to neighborhood averages, a targeted value-add program and disciplined capital planning can enhance competitive positioning versus newer stock, particularly if upgrades focus on in-unit finishes and functional amenities that resonate with workforce and family renters.
- High-cost ownership market supports sustained rental demand and pricing power
- Occupancy trends near the low 90s underpin leasing stability in this submarket
- Value-add potential from 1982 vintage through selective renovations and capex discipline
- Household growth within 3 miles expands the tenant base over the next five years
- Risks: limited immediate amenities and below-average safety metrics warrant proactive management