| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 45th | Fair |
| Amenities | 13th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1245 Morning View Dr, Escondido, CA, 92026, US |
| Region / Metro | Escondido |
| Year of Construction | 2000 |
| Units | 102 |
| Transaction Date | 2014-08-01 |
| Transaction Price | $23,800,000 |
| Buyer | SRGMF Morning View Escondido, |
| Seller | Bouwfonds Alta Vista, LP |
1245 Morning View Dr, Escondido CA Multifamily Investment
Neighborhood occupancy trends rank in the top quartile of the San Diego metro and top decile nationally, supporting steady leasing, according to CRE market data from WDSuite. A high renter-occupied share further points to durable multifamily demand at the neighborhood level.
Located in Escondido within the San Diego-Chula Vista-Carlsbad metro, the neighborhood shows strong renter fundamentals for multifamily. Neighborhood occupancy ranks 104 out of 621 metro neighborhoods (top quartile) and sits in the top decile nationally, suggesting resilient leasing dynamics. The share of housing units that are renter-occupied is very high compared with neighborhoods nationwide, indicating a deep tenant base and potential support for retention through cycles, based on WDSuite’s CRE market data.
The property’s 2000 vintage is newer than the neighborhood’s average construction year. That positioning can be competitively favorable versus older local stock, while still warranting targeted capital planning over the hold for systems modernization or selective value-add.
Within a 3-mile radius, households have grown over the past five years even as population has been roughly flat, pointing to smaller household sizes and a broader leasing audience. Forecasts indicate additional household growth through 2028, which would expand the renter pool and support occupancy stability. Median contract rents in the neighborhood are above national norms, and neighborhood NOI per unit performance ranks well nationally, reinforcing income durability for comparable assets. At the same time, elevated rent-to-income ratios imply affordability pressure, making measured rent strategies and proactive lease management important for retention.
Local amenities skew toward restaurants (competitive nationally), while cafes, parks, groceries, and childcare appear limited within the immediate neighborhood footprint. Residents likely rely on nearby commercial corridors for daily needs, a typical pattern for parts of Escondido’s Urban Core. For investors, this supports a workforce-oriented renter profile with emphasis on commute access and value-focused amenities in operations and marketing, informed by multifamily property research from WDSuite.
Safety indicators for the neighborhood track around the metro median but below national averages. Property offense estimates have improved year over year, a constructive directional signal. Violent offense measures remain weaker versus national benchmarks, and recent year-over-year movement has been slightly higher, underscoring the need for standard risk controls and visibility measures common to urban San Diego submarkets.
Proximity to regional employers anchors renter demand, with coverage across biotech, energy, food distribution, and wireless. The following corporate offices within commuting range can support leasing depth and retention.
- Gilead Sciences — biotech R&D (12.6 miles)
- NRG Energy — energy services (12.7 miles)
- Sysco — foodservice distribution (13.9 miles)
- Qualcomm — wireless & semiconductors (17.4 miles) — HQ
- Celgene Corporation — biopharma (18.6 miles)
This 102-unit asset (built 2000) benefits from neighborhood-level occupancy that ranks in the top quartile of the San Diego metro and top decile nationally, pointing to stable leasing conditions relative to peer submarkets. A very high share of renter-occupied housing in the neighborhood deepens the tenant base, while neighborhood NOI per unit performance compares favorably on a national basis. Elevated home values relative to incomes in the area help sustain reliance on rental housing, supporting demand for well-managed multifamily communities.
According to commercial real estate analysis from WDSuite, median neighborhood rents sit above national norms, which can support revenue, while higher rent-to-income ratios call for disciplined renewals and resident retention strategies. With a vintage newer than the local average, the property can compete effectively against older stock, and targeted upgrades can enhance positioning without overcapitalizing.
- Top-quartile neighborhood occupancy and deep renter base support leasing stability
- 2000 construction offers competitive edge vs. older nearby stock with selective value-add potential
- Above-national rent levels and solid neighborhood NOI per unit underpin income performance
- Household growth within 3 miles expands the renter pool and supports demand over the hold
- Risk: Elevated rent-to-income ratios and below-national safety benchmarks warrant active lease and property management