| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 50th | Fair |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1815 N Broadway, Escondido, CA, 92026, US |
| Region / Metro | Escondido |
| Year of Construction | 1987 |
| Units | 104 |
| Transaction Date | 1993-12-23 |
| Transaction Price | $3,252,000 |
| Buyer | STELLRECHT ROBERT L |
| Seller | FIRST NATIONWIDE BANK |
1815 N Broadway, Escondido CA Multifamily Investment
Neighborhood-level occupancy is stable and renter demand is supported by a deep 3-mile tenant base, according to WDSuite’s CRE market data. With 1980s vintage and proximity to San Diego job nodes, the asset’s positioning favors steady leasing with selective modernization potential.
This C+ rated Inner Suburb within the San Diego–Chula Vista–Carlsbad metro shows balanced fundamentals for multifamily investors. Neighborhood occupancy is strong relative to national trends, supporting day-to-day leasing stability, while the immediate area’s inventory skews slightly older than this 1987 asset, which can help competitive positioning versus nearby 1970s–early 1980s stock.
Amenities are mixed: grocery, restaurants, and parks index above national norms (each in the low–mid 80th percentiles nationally), which helps everyday livability and retention. However, local cafe density and pharmacies are limited within the neighborhood, signaling that some residents will rely on nearby corridors for those services.
Within a 3-mile radius, the renter-occupied share is about 53%, indicating a sizable renter household base that supports multifamily absorption and renewal activity. Household counts have increased over the past five years and are projected to continue rising alongside a gradual decrease in average household size, which typically expands the pool of prospective renters and can support occupancy stability.
Home values in the neighborhood are elevated compared with many U.S. areas, reinforcing reliance on rental options and supporting pricing power when paired with prudent lease management. Neighborhood-level contract rents sit well above the national median, yet rent-to-income metrics remain manageable locally, which can aid retention and reduce turnover risk in steady conditions, based on commercial real estate analysis from WDSuite.
Vintage matters: built in 1987, the property is newer than the neighborhood average year built. That positioning can offer a competitive edge on layouts and systems versus older assets, while still leaving room for targeted upgrades to common areas, energy systems, and finishes to enhance NOI.
Safety indicators are mixed when viewed against broader comparisons. The neighborhood’s crime profile trends below the national median for safety (around the 37th percentile nationally), suggesting comparatively higher incident levels than many U.S. neighborhoods. Within the San Diego metro context, the area ranks 191 out of 621 neighborhoods, indicating it experiences more crime than many parts of the region.
Recent momentum is nuanced: estimated property offenses have declined year over year, while estimated violent offenses increased over the same period. Investors should weigh these trends alongside on-site security practices, lighting and visibility, and proximity to well-trafficked retail corridors.
The location draws on a diversified North County and greater San Diego employment base that supports renter demand and commute convenience, including biotechnology, energy, distribution, and semiconductor employers listed below.
- Gilead Sciences — biotechnology (12.4 miles)
- NRG Energy — energy (13.0 miles)
- Sysco — foodservice distribution (15.0 miles)
- Qualcomm — semiconductors (18.5 miles) — HQ
- Celgene Corporation — biotechnology (19.6 miles)
Positioned in North Inland San Diego, the 104-unit, circa-1987 property benefits from neighborhood occupancy that trends above national norms and a sizable 3-mile renter base. The asset is newer than the neighborhood’s average vintage, offering relative competitiveness versus older stock while retaining clear opportunities for targeted upgrades to drive rent premiums and NOI. Elevated local home values help sustain reliance on rentals, and, according to CRE market data from WDSuite, neighborhood-level contract rents and rent-to-income conditions suggest room for disciplined, operations-led growth rather than outsized concessions.
Demand drivers are supported by steady population levels, growth in household counts within a 3-mile radius, and access to diversified employment nodes across biotech, energy, distribution, and technology. Key watch items include mixed safety readings and uneven access to certain amenities within the immediate neighborhood, which can be mitigated through on-site improvements and emphasis on resident experience.
- Occupancy stability at the neighborhood level supports consistent leasing and renewals.
- 1987 vintage is newer than nearby stock, with value-add upside via targeted renovations.
- Elevated ownership costs locally reinforce rental demand and pricing power with careful lease management.
- Diverse regional employers underpin renter pool depth and retention potential.
- Risks: below-national-median safety indicators and limited immediate amenities in select categories.