| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 27th | Poor |
| Amenities | 16th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1132 N Broadway, Escondido, CA, 92026, US |
| Region / Metro | Escondido |
| Year of Construction | 1998 |
| Units | 24 |
| Transaction Date | 2006-01-12 |
| Transaction Price | $4,850,000 |
| Buyer | PALMAS DEL SOL LP |
| Seller | COLE WILLIAM E |
1132 N Broadway, Escondido Multifamily Investment
Neighborhood occupancy is resilient and renter demand is supported by a high renter-occupied share, according to WDSuite’s CRE market data. Focus is on stable leasing conditions rather than outsized growth assumptions.
Situated in Escondido within the San Diego metro, the property benefits from a renter-driven neighborhood. Renter-occupied housing accounts for a large share of units (high nationally), which supports a deeper tenant base and can aid leasing stability during normal cycles. Neighborhood occupancy trends are above the national median, signaling steady absorption, even if not leading the metro.
Daily needs are well served by strong grocery access — this area ranks competitively within the metro (32 of 621 neighborhoods), placing it in the top quartile nationally for grocery availability. By contrast, the density of cafes, restaurants, parks, and pharmacies is limited, so the amenity mix skews toward essentials rather than lifestyle options.
Within a 3-mile radius, households have expanded over the past five years and are projected to grow further through the next cycle, pointing to a larger tenant base over time. Population is roughly stable while household sizes are edging lower, which typically supports continued demand for multifamily units and helps underpin occupancy.
Ownership remains a high-cost option in this pocket of North County (home values are elevated versus incomes by national standards), reinforcing reliance on rentals and supporting retention. At the same time, rent-to-income levels indicate some affordability pressure for renters; prudent lease management and amenity positioning may be important to sustain pricing power.
The community’s average construction year skews older than the subject’s 1998 vintage, suggesting this asset can compete well against older stock. Investors should still plan for targeted modernization as systems age to maintain positioning versus both older and newer comparables.
Safety indicators are mixed to below average relative to national benchmarks, with the neighborhood falling below the national median for safety. Within the San Diego metro (621 neighborhoods), the area ranks on the less-safe side of the spectrum, indicating investors should underwrite conservative security and operational practices.
Recent trends show property and violent offense estimates that warrant attention rather than alarm. Framing this comparatively, the neighborhood does not sit in the top quartile nationally for safety; operators often respond with lighting, access controls, and resident engagement to support retention and mitigate turnover risk.
The renter base is supported by access to major regional employers across biotech, energy, food distribution, and wireless technology, providing diversified job drivers that can aid leasing stability.
- Gilead Sciences — biotech/pharma (13.0 miles)
- NRG Energy — energy (13.3 miles)
- Sysco — food distribution (13.9 miles)
- Qualcomm — wireless technology (17.3 miles)
- Qualcomm — wireless technology (17.7 miles) — HQ
This 24-unit, 1998-vintage asset sits in a renter-heavy pocket of Escondido where neighborhood occupancy trends run above the national median and grocery access is strong. Elevated ownership costs in the area help support renter reliance on multifamily, while household growth within a 3-mile radius points to a gradually expanding tenant base. According to CRE market data from WDSuite, the neighborhood’s rent-to-income profile suggests some affordability pressure, so disciplined renewals and amenity strategy are important to sustain retention.
Relative to an older neighborhood stock, the property’s vintage offers competitive positioning, with potential to capture demand from residents prioritizing larger unit sizes and practical access to regional job centers. Targeted modernization and active management can further differentiate the asset without assuming outsized rent growth.
- Renter-heavy neighborhood with above-national-median occupancy supports stable leasing
- Elevated for-sale housing costs reinforce depth of rental demand and retention
- 1998 vintage competes well versus older local stock; value-add via selective upgrades
- Diversified regional employers (biotech, energy, logistics, wireless) underpin tenant base
- Risks: below-average safety metrics and renter affordability pressure require disciplined operations