| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 71st | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5808 Del Cielo Este, Bonsall, CA, 92003, US |
| Region / Metro | Bonsall |
| Year of Construction | 1981 |
| Units | 21 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5808 Del Cielo Este Bonsall Multifamily Investment
This 21-unit property built in 1981 is positioned in a high-income suburban neighborhood with median household income above the 79th percentile nationally, according to CRE market data from WDSuite, supporting stable rental demand despite elevated home values that sustain renter reliance on multifamily housing.
The property sits within a suburban neighborhood in the San Diego-Chula Vista-Carlsbad metro, rated C overall among 621 local neighborhoods. Demographic data aggregated within a 3-mile radius shows a median household income of approximately $129,300 in 2023, ranking in the 79th percentile nationally—a signal of strong income fundamentals that support rent-paying capacity. The renter-occupied share of housing units stands at roughly 21%, reflecting a market dominated by ownership but with a stable tenant base for existing multifamily assets. Median contract rent in the neighborhood reached approximately $2,069, placing it in the 93rd percentile nationwide, while the neighborhood occupancy rate held at 91.3%, near the metro median.
Constructed in 1981, the property is slightly older than the neighborhood average construction year of 1988. This vintage presents potential capital expenditure considerations but also positions the asset for value-add strategies—renovation and unit upgrades could capture upside in a high-rent environment. Investors should evaluate deferred maintenance and factor modernization costs into underwriting, particularly given the premium rent levels that justify reinvestment.
Median home values in the neighborhood are approximately $894,700, ranking in the 96th percentile nationally. Elevated ownership costs limit accessibility to homeownership and sustain rental demand, reinforcing reliance on multifamily housing. The rent-to-income ratio of 0.23 suggests relatively manageable affordability for the high-income tenant base, supporting lease retention and renewal rates. However, the value-to-income ratio of 8.3 underscores the gap between ownership and rental costs, which continues to channel households toward rental housing.
Amenity density is notably limited: the neighborhood ranks in the bottom percentile nationally for cafes, grocery stores, childcare centers, parks, pharmacies, and restaurants per square mile. This reflects the area's rural-suburban character and may influence tenant preferences, particularly for households prioritizing walkability or immediate access to services. Schools in the area average a 3.3 rating out of five, ranking in the 70th percentile nationally—a moderate draw for family-oriented renters. Forward-looking demographic data projects a 4.8% population increase and a 23% rise in households by 2028, with median household income forecast to grow 22% to approximately $158,200. These trends point to a larger tenant base and sustained income growth, supporting occupancy stability and potential for measured rent growth over the medium term.
Safety metrics for the neighborhood present a mixed profile that warrants careful consideration. The property crime rate is estimated at approximately 2,332 incidents per 100,000 residents annually, ranking 459th among 621 San Diego metro neighborhoods and placing it in the 9th percentile nationally—indicating elevated property crime relative to both metro and national benchmarks. Violent crime stands at an estimated 298 incidents per 100,000 residents, ranking 365th locally and in the 15th percentile nationwide, also above average. Both property and violent crime rates increased year-over-year by approximately 15% and 45% respectively, trends that place the neighborhood in the bottom third of the metro for recent crime trajectory.
These figures suggest that prospective investors should incorporate risk mitigation into property management and tenant screening protocols. While the neighborhood's income profile and rent levels indicate a stable tenant base, the crime environment may influence tenant turnover, insurance costs, and on-site security considerations. Investors are encouraged to review local policing trends, engage with property management on security enhancements, and monitor year-over-year crime data as part of ongoing due diligence.
The property benefits from proximity to a diversified base of corporate employers anchored by life sciences, technology, and industrial operations, supporting workforce housing demand and commute convenience for professional renters.
- Gilead Sciences — biopharmaceutical (7.8 miles)
- Nrg Energy — energy & utilities (13.2 miles)
- Qualcomm — technology & telecommunications (27.0 miles) — HQ
- Celgene Corporation — biopharmaceutical (28.3 miles)
- L-3 Telemetry & RF Products — defense & aerospace (32.9 miles)
This 21-unit multifamily asset presents a value-add opportunity in a high-income San Diego submarket characterized by strong demographic fundamentals and structural rental demand. Median household income of approximately $129,300 ranks in the 79th percentile nationally, supporting tenant rent-paying capacity and lease stability. With median home values near $895,000—placing the neighborhood in the 96th percentile—the affordability gap between ownership and rental housing remains substantial, channeling households toward multifamily and underpinning occupancy resilience.
The property's 1981 vintage offers renovation and modernization potential to capture upside in a market where median contract rents reach $2,069, among the highest nationally. Forward demographic projections indicate a 23% increase in households and 22% growth in median income by 2028, expanding the addressable tenant base and supporting measured rent appreciation over the investment horizon. The neighborhood's 91.3% occupancy rate aligns with metro norms, suggesting stable demand despite limited walkable amenities.
Proximity to a diversified employment base—including Gilead Sciences, Qualcomm, and other life sciences and technology employers—reinforces workforce housing demand and commute appeal for professional renters. However, investors should account for elevated crime metrics and incorporate risk mitigation strategies, including enhanced security protocols and comprehensive tenant screening, to manage turnover and insurance costs. The asset's location in a supply-constrained, high-barrier-to-entry market with limited new construction supports long-term positioning, particularly for operators capable of executing capital improvements and optimizing unit-level returns.