| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 27th | Poor |
| Amenities | 16th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 215 E El Norte Pkwy, Escondido, CA, 92026, US |
| Region / Metro | Escondido |
| Year of Construction | 2013 |
| Units | 36 |
| Transaction Date | 2005-07-07 |
| Transaction Price | $700,000 |
| Buyer | EL NORTE HOUSING ASSOCIATES LP |
| Seller | COMMUNITY HOUSING WORKS |
215 E El Norte Pkwy Escondido Multifamily Investment
2013 vintage in a renter-centric pocket with steady neighborhood occupancy and strong grocery access, according to WDSuite’s CRE market data. Newer construction versus nearby stock positions the asset competitively while tapping a deep local renter base.
Positioned in Escondido’s Urban Core, the property benefits from a renter-driven neighborhood and a local retail mix that leans heavily toward daily-needs shopping. Grocery access is a relative strength, with the neighborhood scoring in a high national percentile for grocery density, while sit-down restaurants, cafes, parks, and pharmacies are thinner locally. For investors, this mix supports everyday convenience for residents but suggests fewer destination amenities within immediate proximity.
The asset’s 2013 construction is newer than the neighborhood’s average 1983 vintage. That recency can translate into fewer near-term capital items and stronger curb appeal versus older comparables, though planning for system updates and selective modernization over the hold remains prudent.
Neighborhood occupancy is 94.9% (neighborhood metric, not property), placing it above national medians and indicative of stable tenant demand. Renter concentration is also elevated: the neighborhood’s share of renter-occupied housing sits in the top national percentiles, signaling depth in the tenant pool and supporting leasing resilience through cycles.
Within a 3-mile radius, households have grown in recent years and are projected to increase further by 2028, pointing to a larger tenant base over time. Rising incomes in the same radius add support for rent levels, while a high value-to-income landscape and elevated home values in the neighborhood context reinforce reliance on multifamily rentals rather than ownership, a constructive backdrop for occupancy stability and pricing power.
Safety conditions are mixed when viewed against broader benchmarks. The neighborhood’s crime position trends below the national median (national percentiles for overall, property, and violent offenses are lower, indicating comparatively higher crime than many U.S. neighborhoods). Recent year-over-year estimates show modest increases in property offenses and a sharper uptick in violent offenses. These are neighborhood-level indicators, not property-specific, and investors typically account for them through onsite security practices, resident screening, and insurance planning.
Relative to the San Diego-Chula Vista-Carlsbad metro’s 621 neighborhoods, the area does not rank among the safer cohorts, underscoring the importance of targeted operational measures and community engagement to support resident retention.
Regional employment anchors within commuting range support renter demand, particularly for workforce and professional households. Notable nearby employers include Gilead Sciences, NRG Energy, Sysco, Qualcomm, and Celgene Corporation.
- Gilead Sciences — biopharma (12.9 miles)
- NRG Energy — energy services (13.2 miles)
- Sysco — foodservice distribution (14.1 miles)
- Qualcomm — wireless & semiconductors (17.8 miles) — HQ
- Celgene Corporation — biopharma (19.0 miles)
This 36-unit, 2013-built asset offers competitive positioning versus older neighborhood stock and taps into a renter-heavy area with above-median neighborhood occupancy. According to CRE market data from WDSuite, neighborhood renter concentration ranks among the highest nationally, and grocery-oriented convenience supports day-to-day livability even as destination amenities are sparser nearby. A high ownership cost environment bolsters reliance on rentals, reinforcing demand durability.
Within a 3-mile radius, growing household counts and rising incomes point to a larger, more qualified tenant base ahead, supporting occupancy stability and potential rent growth management. Key underwriting considerations include affordability pressure (elevated rent-to-income signals) and neighborhood safety metrics below national medians, which call for focused operations, resident services, and security planning.
- 2013 construction offers competitive appeal versus older 1980s-era neighborhood stock with potential for selective modernization.
- Renter-heavy neighborhood and above-median occupancy support leasing stability through cycles.
- High ownership costs in the area reinforce multifamily demand and retention potential.
- 3-mile radius shows household growth and rising incomes, expanding the tenant base.
- Risks: affordability pressure and below-median safety metrics warrant proactive management and security measures.