| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 31st | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 324 Parallel Gln, Escondido, CA, 92025, US |
| Region / Metro | Escondido |
| Year of Construction | 2012 |
| Units | 31 |
| Transaction Date | 2015-03-27 |
| Transaction Price | $36,855,000 |
| Buyer | LATITUDE DEL LLC |
| Seller | ESCONDIDO PARAMOUNT LLC |
324 Parallel Gln, Escondido CA Multifamily Investment
2012-vintage units in an Urban Core location with stable neighborhood occupancy and deep daily-needs access, according to WDSuite’s CRE market data. Strength in groceries, restaurants, and services supports renter demand and day-to-day convenience for residents.
The property sits in Escondido’s Urban Core, where neighborhood amenities score competitively among San Diego-Chula Vista-Carlsbad neighborhoods (ranked 61 out of 621). Daily-needs density is a standout: grocery and restaurant counts benchmark in the top tier nationally, while parks and pharmacies also rate strongly. This concentration of services typically supports leasing velocity and day-to-day livability for renters.
Neighborhood occupancy is in the mid-90s and above many U.S. areas, based on CRE market data from WDSuite. For investors, that translates into a backdrop supportive of occupancy stability, with the caveat that competitive positioning still matters at renewal given broader metro supply cycles.
Within a 3-mile radius, data show households increased over the past five years and are projected to expand further through 2028, indicating a larger tenant base ahead. The renter-occupied share is about 53% of housing units in this radius, reinforcing depth of demand for multifamily. Median rents in the radius have trended upward and are forecast to continue growing, suggesting ongoing pricing power for well-positioned assets.
Home values in the neighborhood sit at higher levels relative to many U.S. areas, which denotes a high-cost ownership market. For multifamily owners, elevated ownership costs generally sustain reliance on rentals and can support retention, though rent-to-income pressures warrant active lease management.
Relative to the area’s older housing stock (average vintage early 1970s), a 2012 construction year provides competitive positioning against older comparables. Investors can lean on this newer baseline while still planning for normal system updates and selective modernization to drive rent appeal.
Safety metrics for this neighborhood track below national averages, with ranks in the lower tiers among San Diego-Chula Vista-Carlsbad neighborhoods (crime rank 529 out of 621). Recent trends are mixed: violent offense rates show slight year-over-year improvement, while property offense estimates rose. Investors typically account for this by underwriting enhanced lighting, access controls, and property management presence to support resident experience and retention.
Regional employers within commuting range help underpin renter demand. The list below highlights nearby corporate offices relevant to the local workforce.
- Sysco — corporate offices (13.1 miles)
- Nrg Energy — corporate offices (13.2 miles)
- Gilead Sciences — corporate offices (13.3 miles)
- Qualcomm — corporate offices (16.8 miles) — HQ
- Sempra Energy — corporate offices (28.2 miles) — HQ
324 Parallel Gln offers a 2012-vintage, mid-size multifamily asset in an Urban Core pocket with strong daily-needs coverage and competitive neighborhood amenity positioning. Neighborhood occupancy remains solid, and within a 3-mile radius the renter-occupied share and rising household counts point to durable tenant depth. Elevated neighborhood home values reinforce reliance on rental housing, while rent growth trends support revenue durability for quality product.
The newer vintage versus much of the area’s older stock improves competitive standing and may limit near-term capital needs, though investors should still plan for normal system aging and targeted updates to sustain leasing performance. Based on commercial real estate analysis from WDSuite, these fundamentals suggest potential for steady occupancy with room for operational value capture, balanced by affordability pressures and localized safety considerations that warrant active management.
- Urban Core location with top-tier daily-needs access supporting leasing and retention
- 2012 construction provides competitive positioning versus older neighborhood stock
- Renter depth and projected household growth within 3 miles support demand stability
- High-cost ownership market reinforces rental reliance and potential pricing power
- Risks: rent-to-income pressures and below-average safety metrics require proactive management