| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 31st | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 215 E Washington Ave, Escondido, CA, 92025, US |
| Region / Metro | Escondido |
| Year of Construction | 2010 |
| Units | 61 |
| Transaction Date | 2005-08-25 |
| Transaction Price | $2,600,000 |
| Buyer | ESCONDIDO SENIOR HOUSING PARTNERS LP |
| Seller | THE SERAFIN |
215 E Washington Ave Escondido Multifamily Investment
This 61-unit property built in 2010 positions investors in an urban core neighborhood with strong rental demand, where 90% of housing units are renter-occupied. According to CRE market data from WDSuite, the area demonstrates above-average net operating income per unit relative to the broader San Diego metro.
Located in Escondido's urban core, this neighborhood ranks in the top quartile nationally for amenities and maintains exceptionally strong rental demand with 90% of housing units occupied by renters. The area demonstrates solid fundamentals for multifamily investors, with neighborhood-level occupancy at 95% and above-average net operating income per unit compared to the broader San Diego-Chula Vista-Carlsbad metro.
The property's 2010 construction year aligns with newer building stock in an area where the average construction year is 1973, positioning it competitively for tenant attraction and reducing near-term capital expenditure requirements. Demographics within a 3-mile radius show a stable renter base with 131,000 residents and household income growth of 34% over five years, supporting rental demand sustainability.
Amenity density supports tenant retention with the highest-ranking grocery store access in the metro area and strong restaurant concentration. The neighborhood maintains above-metro-average home values at $600,000 median, which reinforces rental demand by keeping homeownership costs elevated relative to renting options. Projected household growth of 30% through 2028 within the 3-mile radius indicates expanding renter pool potential.
Crime metrics for this neighborhood show property offense rates that rank in the lower quartile among San Diego metro neighborhoods, indicating higher crime levels relative to the regional average. However, violent crime trends show stabilization with a 2% decrease year-over-year, suggesting some improvement in overall safety conditions.
Investors should factor security considerations into property management strategies and tenant screening processes. The urban core location provides density and amenity access while requiring attention to safety protocols and potentially influencing insurance costs and tenant retention strategies.
The San Diego North County employment corridor provides diverse corporate anchors within commuting distance, supporting workforce housing demand for the property's renter base.
- Sysco — food service distribution (13.2 miles)
- NRG Energy — energy services (13.5 miles)
- Gilead Sciences — biotechnology (13.6 miles)
- Qualcomm — telecommunications technology (17.2 miles) — HQ
- Celgene Corporation — pharmaceutical (18.3 miles)
This Escondido property offers investors exposure to a high-density rental market with 90% renter occupancy and stable neighborhood-level metrics. The 2010 construction vintage provides competitive positioning with reduced near-term capital requirements compared to older area stock. Household income growth of 34% within the 3-mile demographic area, combined with projected 30% household growth through 2028, supports rental demand fundamentals.
Commercial real estate analysis indicates above-average net operating income potential relative to the San Diego metro, while elevated home values at $600,000 median reinforce rental demand by maintaining ownership cost barriers. However, investors should account for crime metrics that rank below regional averages and monitor rent-to-income ratios that may pressure tenant retention in economic downturns.
- Strong rental market fundamentals with 90% renter-occupied housing units
- 2010 construction reduces capital expenditure requirements
- Projected 30% household growth supports expanding tenant base
- Above-average NOI per unit relative to San Diego metro
- Risk consideration: Crime metrics require enhanced security protocols