| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Poor |
| Demographics | 41st | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1440 N Broadway, Escondido, CA, 92026, US |
| Region / Metro | Escondido |
| Year of Construction | 1978 |
| Units | 40 |
| Transaction Date | 2007-03-02 |
| Transaction Price | $4,465,000 |
| Buyer | ROSS APARTMENT COMPANY VI LP |
| Seller | MOORE TERRY W |
1440 N Broadway, Escondido Multifamily Investment
Neighborhood occupancy has held in the mid‑90s in recent years, supporting income stability for well‑run assets, according to WDSuite’s CRE market data. Elevated ownership costs in North County San Diego further sustain renter demand at the neighborhood level.
Located in Escondido’s inner‑suburban fabric of the San Diego metro, the property sits in a renter-supported pocket where neighborhood occupancy is above the national median and has remained resilient over multiple cycles. While the neighborhood carries a D rating and ranks near the bottom of the metro overall (604 out of 621 neighborhoods), stabilized occupancy conditions indicate tenants continue to lease in the area even as options across the metro broaden.
Local amenities within the immediate neighborhood are limited, with few cafes, grocery stores, parks, or pharmacies per square mile compared with both metro and national norms. For investors, this typically favors properties that provide on‑site conveniences, parking, and efficient access to arterial roads, as off‑site walkable options are thinner than in denser San Diego submarkets.
Ownership costs remain elevated relative to incomes (high national percentile for home values and value‑to‑income), which tends to reinforce reliance on multifamily housing and supports lease retention. Rents in the neighborhood have also trended upward over the past five years, outpacing many U.S. areas, a backdrop that can support revenue growth where unit quality and management execution are competitive.
Demographic statistics aggregated within a 3‑mile radius point to a large and diverse tenant base: households have increased meaningfully in recent years and are projected to expand further over the next five years, implying a larger renter pool and support for occupancy. The 3‑mile area shows a majority share of renter‑occupied housing units, which deepens demand for mid‑scale, professionally managed apartments.
Safety signals are mixed but improving in several categories. Overall crime levels track around the national middle (national percentile near the 50s), indicating conditions that are broadly comparable to many U.S. neighborhoods. Property offenses have declined sharply year over year, placing the area in the top quartile nationally for improvement, according to WDSuite’s data. Violent‑crime metrics sit below the national middle, a factor investors should underwrite via security, lighting, and resident‑experience measures.
Within the San Diego metro context, the neighborhood’s crime profile is neither among the safest nor the highest‑risk areas and should be evaluated alongside asset‑level controls, unit mix, and on‑site management practices to support retention and minimize loss to lease.
The employment base within commuting reach features life sciences, energy, food distribution, and technology anchors, which supports workforce housing demand and leasing stability. Nearby employers include Gilead Sciences, NRG Energy, Sysco, Qualcomm, and Celgene.
- Gilead Sciences — pharmaceuticals/biotech (12.8 miles)
- NRG Energy — energy (13.2 miles)
- Sysco — food distribution (14.4 miles)
- Qualcomm — wireless & semiconductors (18.0 miles) — HQ
- Celgene Corporation — biotechnology (19.2 miles)
This 40‑unit Escondido asset offers scale for professional operations and unit layouts averaging roughly 900+ square feet, positioning it to capture family and roommate demand. Neighborhood occupancy has remained in the mid‑90s, and, based on CRE market data from WDSuite, rents and home values sit at high national percentiles, indicating a high‑cost ownership market that sustains multifamily reliance and supports pricing power for well‑maintained product.
Demographic statistics within a 3‑mile radius show recent growth in households with further expansion projected, implying a larger tenant base and support for occupancy stability. While immediate walkable amenities are limited, proximity to regional job centers across North County and greater San Diego underpins leasing, provided the asset competes on maintenance, parking, and resident experience. Investors should also underwrite for operational measures addressing safety perception and for selective upgrades to maintain competitiveness versus newer stock across the metro.
- Stabilized neighborhood occupancy supports income consistency for professionally managed assets.
- High ownership costs in the metro reinforce renter reliance, aiding retention and pricing power.
- 3‑mile household growth and a majority renter share deepen the tenant base and support leasing.
- Limited immediate amenities and mixed safety signals warrant enhanced on‑site services and thoughtful security.