| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Poor |
| Demographics | 30th | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 250 W 15th Ave, Escondido, CA, 92025, US |
| Region / Metro | Escondido |
| Year of Construction | 2008 |
| Units | 80 |
| Transaction Date | 2006-06-26 |
| Transaction Price | $3,250,000 |
| Buyer | LAS VENTANAS VILLAGE PARTNERS LP |
| Seller | MARTIN ANNETTE |
250 W 15th Ave Escondido Multifamily Investment
Neighborhood fundamentals point to steady renter demand and occupancy resilience, according to WDSuite’s CRE market data. The asset’s 2008 vintage positions it competitively versus older local stock while allowing room for targeted modernization.
Located in Escondido’s Urban Core (neighborhood rating: B), the area offers day-to-day convenience with strong access to groceries, restaurants, parks, and pharmacies — each ranking in the upper tiers nationally — though cafés are less dense. For investors, this mix supports resident retention through practical amenity coverage rather than destination retail. Neighborhood occupancy is in the mid‑90s, placing it around the upper quartile nationally, which historically underpins cash flow stability for comparable multifamily assets based on commercial real estate analysis from WDSuite.
The 2008 construction year is newer than the neighborhood’s average 1979 vintage, indicating relative competitiveness versus older properties nearby; plan for system refreshes typical of a late‑2000s build to sustain positioning. The neighborhood shows a high renter-occupied share (about two‑thirds of units), signaling depth in the tenant base and consistent leasing velocity.
Within a 3‑mile radius, demographic data show households have grown over the past five years and are projected to continue expanding, even as average household size trends modestly lower. This points to a larger renter pool and supports occupancy stability and leasing demand over the medium term.
Ownership costs are elevated relative to local incomes, and home values are high by national standards. In practice, this high‑cost ownership market tends to sustain reliance on multifamily rentals, supporting pricing power and lease retention, while a rent‑to‑income profile near 30% warrants thoughtful lease management to mitigate affordability pressure.
Safety outcomes in the neighborhood trail national norms, with both violent and property offense rates sitting in lower national percentiles; however, recent year‑over‑year trends indicate improvement with double‑digit percentage declines in estimated rates. Within the San Diego–Chula Vista–Carlsbad metro, the area’s crime position is competitive with mid‑pack neighborhoods rather than top performers among 621 neighborhoods, so investors should underwrite sensible security measures while noting the improving trajectory.
Proximity to a diversified employment base supports renter demand and commute convenience, including food distribution, energy, biotech, and wireless technology employers located within roughly 12–18 miles.
- Sysco — food distribution (11.9 miles)
- NRG Energy — energy (14.0 miles)
- Gilead Sciences — biotech/pharmaceuticals (14.5 miles)
- Qualcomm — wireless technology (16.2 miles) — HQ
- Celgene Corporation — biotechnology (17.4 miles)
This 80‑unit property built in 2008 is positioned to capture durable renter demand in Escondido’s Urban Core. Neighborhood occupancy sits in the mid‑90s and renter-occupied housing is prevalent, supporting leasing depth and cash flow consistency. Elevated home values relative to incomes indicate a high‑cost ownership market that reinforces reliance on rentals, while household growth within a 3‑mile radius expands the tenant base even as household sizes trend modestly smaller. According to CRE market data from WDSuite, the neighborhood compares above the metro median on convenience amenities that reinforce day‑to‑day livability.
The 2008 vintage is newer than the local average, offering competitive positioning versus older stock with potential value‑add from targeted interior and systems updates. Key underwriting considerations include managing affordability pressure (rent‑to‑income near 30%), addressing improving yet below‑average safety metrics, and monitoring school quality signals that may affect family‑oriented demand.
- Newer 2008 vintage versus neighborhood average, with scope for targeted modernization
- Strong neighborhood occupancy and high renter-occupied share support leasing stability
- High-cost ownership market sustains rental demand and pricing power
- Household growth within 3 miles expands the renter pool and supports retention
- Risks: below-average safety (improving), lower school ratings, and affordability pressure require active management