| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 50th | Fair |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1845 N Broadway, Escondido, CA, 92026, US |
| Region / Metro | Escondido |
| Year of Construction | 1989 |
| Units | 64 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1845 N Broadway, Escondido Multifamily Investment
Neighborhood occupancy appears steady with a broad renter base within 3 miles, according to WDSuite’s CRE market data, supporting income durability for a 64-unit asset.
Located in Escondido’s inner suburb of the San Diego metro, the area around 1845 N Broadway shows renter demand supported by a sizable 3-mile catchment where just over half of housing units are renter-occupied. Neighborhood occupancy is above the national median (top quartile nationally), which points to stable leasing conditions at the submarket level rather than property-specific performance.
Local amenities are mixed: grocery and park access compare favorably to many U.S. neighborhoods (both in the low-80s national percentiles), while cafes and pharmacies are sparse. Restaurants are relatively plentiful versus national norms. For investors, this blend suggests day-to-day convenience for residents without paying the premium of the metro’s highest-amenity corridors.
Home values in the neighborhood sit in a high-cost ownership market (upper-80s national percentile), which tends to reinforce reliance on multifamily housing and can support pricing power and retention. Median rents in the neighborhood track in the low-80s national percentile, and a rent-to-income ratio around 0.19 indicates manageable affordability pressure relative to many coastal submarkets, aiding lease stability.
Demographics aggregated within a 3-mile radius indicate modest population growth and a notable increase in households over the last five years, pointing to smaller household sizes and a gradually expanding tenant base. Forward-looking data show continued household growth with rising incomes, which could support rent performance and occupancy, based on commercial real estate analysis from WDSuite.
Vintage context: the asset’s 1989 construction is newer than the neighborhood’s average vintage (1980). That positioning can enhance competitive standing versus older stock, though investors should budget for modernization of systems typical for late-1980s properties to sustain rentability.
Safety indicators are mixed relative to the San Diego metro and national benchmarks. Neighborhood crime measures land below national midrange (national percentiles in the 20s–40s indicate less favorable standing nationally), and ranks within the metro suggest conditions are not among the region’s safest areas. However, recent data show property offense rates improving year over year, indicating a constructive near-term trend.
Investors should underwrite with standard precautions: emphasize lighting, access control, and resident engagement, and monitor trends against metro averages over time. Interpreting safety at the neighborhood level avoids block-by-block assumptions and provides a consistent basis for risk assessment.
Proximity to diversified employers supports renter demand through commute convenience, with concentrations in life sciences, energy, food distribution, and technology that align with the area’s workforce housing profile.
- Gilead Sciences — life sciences offices (12.4 miles)
- Nrg Energy — energy services offices (13.0 miles)
- Sysco — food distribution (15.0 miles)
- Qualcomm — corporate offices (18.1 miles)
- Qualcomm — corporate offices (18.6 miles) — HQ
This 64-unit, late-1980s asset sits in an inner-suburban Escondido location where neighborhood occupancy is above the national median and the 3-mile area maintains a deep renter pool. Home values are elevated for the region, which tends to sustain multifamily reliance and supports pricing power when balanced against a rent-to-income ratio indicative of manageable affordability pressure. According to CRE market data from WDSuite, neighborhood rents benchmark in the low-80s national percentile, consistent with healthy demand in North County San Diego.
The 1989 vintage is newer than the neighborhood average and should remain competitive against older stock, while still benefiting from targeted modernization to protect rents and leasing velocity. Forward demographic indicators within 3 miles point to continued household growth and income gains, reinforcing the long-term tenant base and occupancy stability.
- Above-median neighborhood occupancy and a sizable 3-mile renter base support income durability
- Elevated local home values reinforce multifamily demand and retention potential
- 1989 construction offers competitive positioning versus older stock with value-add modernization upside
- Household and income growth within 3 miles underpin forward leasing fundamentals
- Risks: safety metrics trail national benchmarks in places; prudent security and active management recommended