| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 23rd | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 151 Gayland St, Escondido, CA, 92027, US |
| Region / Metro | Escondido |
| Year of Construction | 1974 |
| Units | 119 |
| Transaction Date | 2021-08-26 |
| Transaction Price | $28,737,500 |
| Buyer | 151 GAYLAND CA LP |
| Seller | 648 PARK TERRACE LLC |
151 Gayland St, Escondido CA — Multifamily Value‑Add Opportunity
According to WDSuite’s CRE market data, the surrounding neighborhood shows solid occupancy and a deep renter base, supporting steady leasing fundamentals while leaving room for operational upside.
This Urban Core neighborhood in Escondido carries a C rating and performs above national averages on occupancy, with the neighborhood’s multifamily occupancy measured at the neighborhood level, not this property. Renter-occupied housing is high (top quartile among 621 San Diego metro neighborhoods), indicating a deep tenant pool and generally steady demand for mid-size assets like this 119‑unit property.
Amenity access is mixed: grocery options are abundant (ranked 28 out of 621 metro neighborhoods and 99th percentile nationally), and restaurants are dense (96th percentile nationally), while cafes, parks, and pharmacies are limited within the immediate neighborhood footprint. For family renters, average school ratings trend toward the lower end (about the 15th percentile nationally), which may influence unit mix strategy and leasing positioning.
Ownership remains comparatively expensive relative to incomes (value‑to‑income near the upper quartile nationally), which tends to reinforce reliance on rental housing and can support pricing power for professionally managed properties. Median contract rents in the neighborhood have outperformed over the last five years, and the rent‑to‑income ratio sits on the higher side, suggesting some affordability pressure that calls for careful lease management and renewal planning.
Within a 3‑mile radius, demographics point to a stable renter base: total population dipped modestly in the last five years, but household counts increased and are projected to expand further through 2028, implying smaller household sizes and continued renter pool expansion. Income growth has been strong in this radius, and forecasts indicate additional gains, which can underpin rent growth and occupancy stability, based on CRE market data from WDSuite.
Safety indicators for the neighborhood are below both metro and national norms. The area’s crime rank sits in the less favorable cohort (247 out of 621 San Diego metro neighborhoods), and national safety percentiles are on the lower side (around the mid‑30s), indicating comparatively higher reported incidents than many U.S. neighborhoods.
Recent trends offer a mixed picture: estimated property offenses declined year over year (improvement consistent with a mid‑pack trend among 621 metro neighborhoods), while estimated violent‑offense measures remain below national safety percentiles. Investors should underwrite with conservative security and loss assumptions while noting the recent directional improvement.
Regional employment is anchored by distribution, energy, life sciences, and technology, which supports renter demand through diverse job bases and reasonable commute sheds to Escondido. The employers below represent nearby nodes likely to influence leasing stability.
- Sysco — foodservice distribution (13.6 miles)
- Gilead Sciences — biopharma (14.9 miles)
- NRG Energy — energy services (15.2 miles)
- Qualcomm — wireless & semiconductors (17.9 miles)
- Qualcomm — wireless & semiconductors (18.3 miles) — HQ
Built in 1974, the asset is slightly older than the neighborhood’s average vintage, creating clear value‑add pathways through targeted renovations and systems upgrades to enhance competitiveness against newer stock. Neighborhood fundamentals show above‑average occupancy and a top‑quartile renter concentration within the San Diego metro, which supports depth of demand and potential retention. According to CRE market data from WDSuite, ownership costs are elevated relative to incomes locally, reinforcing reliance on multifamily housing and supporting rent durability when paired with disciplined leasing and renewal strategies.
Investor underwriting should also account for operational considerations: neighborhood safety metrics trail metro and national benchmarks, and rent‑to‑income levels indicate some affordability pressure. That said, within a 3‑mile radius, households have grown and are projected to expand further alongside rising incomes, which can support occupancy stability and selective rent growth for well‑managed properties.
- Renter depth: top‑quartile renter‑occupied share among 621 San Diego metro neighborhoods supports steady tenant demand.
- Value‑add angle: 1974 construction offers renovation and systems‑upgrade upside versus newer competing stock.
- Demand drivers: abundant groceries and strong restaurant density nearby aid day‑to‑day livability and leasing.
- Long‑run support: within 3 miles, household growth and income gains bolster occupancy stability.
- Risks to underwrite: below‑average safety metrics and higher rent‑to‑income call for conservative loss and renewal assumptions.