| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 27th | Poor |
| Amenities | 16th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1068 N Broadway, Escondido, CA, 92026, US |
| Region / Metro | Escondido |
| Year of Construction | 1987 |
| Units | 44 |
| Transaction Date | 2008-10-23 |
| Transaction Price | $3,075,000 |
| Buyer | ARCADIA PINES PROPERTIES LLC |
| Seller | RIOS GLORIA O |
1068 N Broadway Escondido Multifamily Investment
This 44-unit property built in 1987 sits in a neighborhood with strong occupancy at 94.9% and high rental concentration at 68.8%, indicating stable tenant demand according to CRE market data from WDSuite.
Located in Escondido's urban core, this neighborhood demonstrates strong fundamentals for multifamily investors with occupancy rates at 94.9% and a dominant rental market comprising 68.8% of housing units - ranking in the 97th percentile nationally. The property's 1987 construction year aligns with the neighborhood average of 1983, indicating consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements.
The area benefits from exceptional grocery access with 8.24 stores per square mile, ranking 32nd among 621 San Diego metro neighborhoods. However, the neighborhood shows limited amenities in other categories, with minimal restaurant, cafe, and park density. Demographics within a 3-mile radius reveal a stable renter base of 132,150 residents, though population declined 0.5% over five years.
Rental affordability presents mixed signals for lease management, with median contract rents at $1,888 and a rent-to-income ratio of 0.33 ranking in the bottom quartile nationally. This suggests potential retention challenges that investors should monitor closely. Looking forward, demographic projections indicate household growth of 30.2% through 2028, which could expand the tenant pool and support occupancy stability despite current affordability pressures.
Safety metrics for this neighborhood show mixed performance compared to regional and national benchmarks. Property crime rates of 589.7 incidents per 100,000 residents rank 101st among 621 San Diego metro neighborhoods, placing it in the 34th percentile nationally. Violent crime rates at 234.8 per 100,000 residents rank 303rd in the metro area, corresponding to the 18th percentile nationally.
Recent trends indicate property crime increased 2.3% year-over-year, while violent crime rose 33.3%. Investors should consider these safety dynamics when evaluating tenant retention strategies and property management approaches, particularly given the neighborhood's high rental concentration and urban core location.
The property benefits from proximity to major corporate employers that support workforce housing demand, including biotechnology, energy, and technology companies within commuting distance.
- Gilead Sciences — biotechnology (13.1 miles)
- Nrg Energy — energy services (13.3 miles)
- Sysco — food distribution (13.8 miles)
- Qualcomm — technology — HQ (17.6 miles)
- Celgene Corporation — biotechnology (18.8 miles)
This 44-unit property presents a value-add opportunity in a stable rental market with 94.9% neighborhood occupancy and strong rental tenure at 68.8% of housing units. The 1987 construction vintage aligns with neighborhood norms and positions the asset for strategic capital improvements. Demographics within a 3-mile radius show household growth projections of 30.2% through 2028, expanding the potential tenant base despite recent population declines.
Commercial real estate analysis from WDSuite indicates the neighborhood's NOI per unit averages $8,869, ranking in the 73rd percentile nationally. However, rent-to-income ratios at 0.33 suggest affordability pressures that require careful lease management strategies. The property's location provides access to major employers including Qualcomm headquarters and biotechnology companies within reasonable commuting distance.
- Strong neighborhood occupancy at 94.9% with dominant rental market concentration
- Value-add potential with 1987 vintage allowing strategic renovations
- Projected household growth of 30.2% through 2028 supporting tenant demand
- Access to major employment centers including Qualcomm and biotech corridor
- Risk consideration: Rent-to-income ratios indicate potential affordability challenges requiring active lease management