| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 45th | Fair |
| Amenities | 13th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 345 W El Norte Pkwy, Escondido, CA, 92026, US |
| Region / Metro | Escondido |
| Year of Construction | 1988 |
| Units | 64 |
| Transaction Date | 1996-08-28 |
| Transaction Price | $473,500 |
| Buyer | HOHNSTEIN PHILIP |
| Seller | RAINBOW DISPOSAL CO INC |
345 W El Norte Pkwy, Escondido Multifamily Investment
Neighborhood occupancy is high and renter concentration is deep, supporting stable leasing conditions at the submarket level according to WDSuite’s CRE market data. These are neighborhood indicators, not property performance, but they point to durable demand drivers in this part of Escondido.
Located in Escondido’s Urban Core of the San Diego metro, the area surrounding 345 W El Norte Pkwy shows strong renter demand signals. Neighborhood occupancy stands high relative to national benchmarks (top quartile nationally), and the share of housing units that are renter-occupied is elevated, indicating a broad tenant base and potential for stable absorption. These are neighborhood-level metrics rather than property-specific results.
The property’s 1988 construction is newer than the neighborhood’s average vintage (1979), suggesting relative competitiveness versus older stock while leaving room for targeted modernization to drive rent positioning and operating efficiency. Local asking rents benchmark in the upper decile nationally, reflecting San Diego demand drivers, while neighborhood housing fundamentals rank above many U.S. peers (housing in the top quintile nationally by WDSuite).
Within a 3-mile radius, demographic statistics indicate steady population levels and meaningful growth in households historically, with further household expansion expected over the next five years. A growing household base typically supports a larger tenant pool and helps sustain occupancy and renewal rates for multifamily assets.
Ownership dynamics show a high-cost ownership market relative to incomes (value-to-income metrics rank near the top nationally), which can reinforce renter reliance on multifamily housing and support lease retention. Amenity density is mixed—restaurants are reasonably represented for the metro context, while everyday retail and parks are thinner—so investors should underwrite accordingly for on-site convenience features and resident services.
Safety conditions should be evaluated with care. The neighborhood’s safety profile trends below national averages (crime measures score in the lower national percentiles), placing it below the metro median among 621 San Diego neighborhoods. That said, property offenses have shown a recent year-over-year decline, which is a constructive directional signal. Use these as neighborhood-level indicators rather than block-specific guarantees, and incorporate appropriate security, lighting, and site management in underwriting.
Regional employers within commuting distance—Gilead Sciences, NRG Energy, Sysco, Qualcomm, and Celgene—support a diversified employment base that can bolster renter demand and retention for workforce and professional tenants.
- Gilead Sciences — biotech (12.5 miles)
- NRG Energy — energy services (12.8 miles)
- Sysco — foodservice distribution (14.3 miles)
- Qualcomm — technology R&D (17.8 miles) — HQ
- Celgene Corporation — biotech (18.9 miles)
This 64-unit, 1988-vintage asset sits in a neighborhood with high occupancy and a sizable renter-occupied housing base, pointing to depth of demand and potential leasing stability. According to CRE market data from WDSuite, neighborhood rents benchmark above national medians, and ownership costs relative to income skew high, which can sustain reliance on rental housing. The vintage provides an avenue for targeted value-add—modernizing interiors and common areas to compete effectively against older stock.
Within a 3-mile radius, steady population and expanding household counts indicate a growing tenant base over the medium term, supporting renewal capture and lease-up velocity. Proximity to diversified employers across biotech, technology, energy, and distribution further anchors renter demand, though underwriting should account for affordability pressures and a safety profile that trails national averages.
- High neighborhood occupancy and strong renter concentration support leasing stability (neighborhood metrics, not property results).
- 1988 vintage offers value-add potential through targeted renovations versus older local stock.
- Household growth within 3 miles expands the tenant base, aiding retention and absorption.
- Regional employers in biotech, tech, energy, and distribution provide diversified demand drivers.
- Risks: elevated rent-to-income dynamics and below-average safety require disciplined lease and property management.