| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 45th | Fair |
| Amenities | 13th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1301 Morning View Dr, Escondido, CA, 92026, US |
| Region / Metro | Escondido |
| Year of Construction | 1996 |
| Units | 95 |
| Transaction Date | 2012-12-06 |
| Transaction Price | $23,400,000 |
| Buyer | AVANATH ESCONDIDO LP |
| Seller | ESCONDIDO TERRACES LP |
1301 Morning View Dr Escondido Multifamily Investment
This 95-unit property benefits from exceptional neighborhood occupancy rates at 98.6%, ranking in the top 10% nationally among metro neighborhoods and supporting stable rental income generation.
Built in 1996, this property offers moderate capital expenditure planning relative to newer construction while positioning investors for potential value-add opportunities through strategic improvements. The neighborhood demonstrates robust rental market fundamentals, with occupancy rates at 98.6% ranking 104th among 621 San Diego metro neighborhoods and placing in the 92nd national percentile.
Demographics within a 3-mile radius show a balanced tenant base with 119,007 residents and median household income of $78,726. The area maintains a 52.2% renter-occupied housing share, providing a substantial rental pool. Projected household growth of 30.9% over the next five years supports expanding renter demand, while median rent increases from $1,363 to a forecasted $2,409 indicate strong pricing power potential.
The neighborhood's median contract rent of $1,835 reflects competitive positioning within the San Diego market, though rent-to-income ratios warrant careful lease management consideration. Limited amenity density requires evaluation of tenant retention strategies, as grocery stores, cafes, and childcare facilities show minimal presence within the immediate area.
Property crime rates in the neighborhood show an estimated 1,256 incidents per 100,000 residents annually, placing it in the lower third among San Diego metro neighborhoods. However, recent trends indicate a 10% decrease in property crime year-over-year, suggesting improving conditions that may support tenant retention and leasing velocity.
Violent crime rates of 289.7 per 100,000 residents rank 359th among 621 metro neighborhoods, though a 7.6% increase over the past year requires monitoring for potential impacts on resident satisfaction and renewal rates.
The property benefits from proximity to major corporate employers across biotechnology, energy, and technology sectors, providing workforce housing opportunities for professional tenants within reasonable commuting distance.
- Gilead Sciences — biotechnology (12.4 miles)
- Nrg Energy — energy services (12.6 miles)
- Sysco — food distribution (14.2 miles)
- Qualcomm — technology — HQ (17.6 miles)
- Celgene Corporation — biotechnology (18.7 miles)
The property's 1996 construction year positions it for strategic value-add opportunities while avoiding the extensive capital requirements of significantly older assets. According to CRE market data from WDSuite, the neighborhood's 98.6% occupancy rate substantially exceeds typical market performance, ranking in the 92nd national percentile and indicating strong rental demand fundamentals.
Demographic projections within the 3-mile radius show household growth of 30.9% over five years, expanding the potential tenant base while median income growth of 34.9% supports rent escalation potential. The area's 52.2% renter-occupied housing share provides depth in the rental market, though limited local amenities may require proactive tenant retention strategies.
- Exceptional occupancy rates at 98.6% rank in top 10% nationally among metro neighborhoods
- Projected 30.9% household growth over five years expands renter pool
- 1996 vintage offers value-add potential with moderate capital planning requirements
- Proximity to major employers including Qualcomm headquarters supports workforce housing demand
- Risk consideration: Limited local amenities may impact tenant retention and require enhanced property management