| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Poor |
| Demographics | 30th | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 323 W 15th Ave, Escondido, CA, 92025, US |
| Region / Metro | Escondido |
| Year of Construction | 1987 |
| Units | 21 |
| Transaction Date | --- |
| Transaction Price | $1,020,000 |
| Buyer | OWNERSHIP NAME INFORMATION |
| Seller | --- |
323 W 15th Ave Escondido Multifamily Investment
Neighborhood occupancy is steady with a deep renter base, supporting demand durability for a 1987-vintage, small-scale asset, according to WDSuite’s CRE market data.
Located in Escondido’s Urban Core, the property sits in a renter-driven neighborhood where approximately two-thirds of housing units are renter-occupied. For investors, that renter concentration points to a broad tenant pool and supports leasing stability at the neighborhood level rather than the property specifically.
Neighborhood occupancy is 95.6% and ranks above the metro median among 621 San Diego–area neighborhoods, indicating stable performance through cycles. Median contract rents are elevated relative to many U.S. neighborhoods, while the neighborhood’s rent-to-income profile suggests some affordability pressure—more a lease management consideration than a structural demand issue.
Daily needs are well covered: restaurants and grocery access benchmark in the mid-90s percentiles nationally, with parks and pharmacies also testing in the 80s. Cafe density is limited, but overall amenity access compares favorably to national peers, which helps with retention and leasing velocity.
Within a 3-mile radius, households increased over the past five years and are projected to continue rising, even as average household size trends lower—expanding the renter pool and supporting occupancy stability. Median and mean household incomes have strengthened, and forecast income growth further underpins rent collections and renewal potential. Elevated home values in the neighborhood (and a high value-to-income ratio) point to a high-cost ownership market that tends to sustain reliance on multifamily rentals, reinforcing pricing power when supported by product quality.
The asset’s 1987 construction is newer than the neighborhood’s average vintage (late 1970s). That positioning can be competitive versus older stock locally, though investors should anticipate targeted modernization and systems updates to capture premiums and mitigate CapEx surprises.
School ratings in the neighborhood are lower relative to national benchmarks, which may matter for some family renters; however, the area’s amenity access and renter depth help balance this consideration for workforce-oriented demand.
Safety metrics for the neighborhood sit below national percentiles, signaling higher reported incident rates than many U.S. areas; however, year-over-year trends show improvement with reported violent and property offenses both declining. This directional improvement, coupled with steady occupancy, suggests conditions that investors can underwrite with appropriate risk adjustments and operational focus.
Within the San Diego–Chula Vista–Carlsbad metro (621 neighborhoods), the area does not rank among the top quartile for safety, but recent declines in incident rates indicate a positive trajectory. Asset-level measures (lighting, access control, resident engagement) and partnership with local resources can further support retention and collections.
Proximity to regional employers supports workforce housing demand and commute convenience, including food distribution, energy, biopharma, and technology—drivers that can aid leasing stability and renewals.
- Sysco — foodservice distribution (11.8 miles)
- NRG Energy — energy (13.96 miles)
- Gilead Sciences — biopharma (14.5 miles)
- Qualcomm — semiconductors (16.05 miles) — HQ
- Celgene Corporation — biotech (17.26 miles)
This 21-unit, 1987-vintage property benefits from a renter-heavy neighborhood with above-median metro occupancy and strong amenity access, supporting durable leasing and renewal prospects. Elevated ownership costs locally reinforce reliance on rentals, while household growth within a 3-mile radius expands the tenant base and supports occupancy stability. According to CRE market data from WDSuite, neighborhood occupancy outperforms metro medians and rents benchmark above many U.S. areas, suggesting pricing power for well-maintained product.
Vintage positioning offers relative competitiveness versus older local stock, with a practical path for value-add through targeted interior upgrades and systems modernization. Investors should account for affordability pressure in rent-to-income ratios and monitor neighborhood safety trends, which are improving but still below national percentiles.
- Renter-heavy neighborhood and above-median metro occupancy support stable demand
- Elevated ownership costs sustain renter reliance and pricing power for quality assets
- 1987 vintage offers value-add potential via targeted renovations and system updates
- Strong amenity access aids retention and leasing velocity
- Monitor affordability and safety metrics as underwriting and operations risks