| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 31st | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 360 E Washington Ave, Escondido, CA, 92025, US |
| Region / Metro | Escondido |
| Year of Construction | 1980 |
| Units | 44 |
| Transaction Date | 2000-10-03 |
| Transaction Price | $3,500,000 |
| Buyer | COBBLESTONE APARTMENTS L P |
| Seller | ESCONDIDO HOUSING PARTNERS L P |
360 E Washington Ave Escondido Multifamily Investment
This 44-unit property from 1979 sits in a predominantly rental neighborhood with 89.7% renter-occupied housing units, according to CRE market data from WDSuite, supporting stable tenant demand in the San Diego metro.
This Escondido neighborhood ranks in the top quartile nationally for rental housing concentration, with nearly 90% of housing units occupied by renters. The area demonstrates strong amenity access, ranking 61st among 621 San Diego metro neighborhoods for overall amenities and achieving the 100th percentile nationally for grocery store density with 25.14 stores per square mile.
Demographics within a 3-mile radius show a mature renter base with median household income of $79,357 and stable household formation. Population projections indicate modest growth to 134,422 residents by 2028, supporting continued rental demand. The forecast shows household count expansion of 29.7% over the next five years, suggesting a larger tenant pool entering the market.
The 1979 construction year aligns with the neighborhood average of 1973, indicating potential value-add opportunities through selective capital improvements. Median contract rents of $1,612 in the immediate neighborhood provide context for rental positioning, while the broader 3-mile area commands $1,878 median rents. Neighborhood-level occupancy remains stable at 94.6%, though this reflects a slight decline from prior years.
Home values averaging $600,000 in the neighborhood create elevated ownership costs that can sustain rental demand, particularly given the 8.4 value-to-income ratio ranking in the 96th percentile nationally. However, rent-to-income ratios of 0.51 suggest affordability pressures that warrant careful lease management and renewal rate monitoring.
Crime metrics indicate challenges that require investor attention. The neighborhood ranks 529th among 621 San Diego metro neighborhoods for overall crime, placing it in the 21st percentile nationally. Property offense rates of 4,525 incidents per 100,000 residents rank in the bottom quartile regionally and 3rd percentile nationally.
Violent crime rates of 976 incidents per 100,000 residents rank 572nd of 621 metro neighborhoods, though recent trends show a 2% decline year-over-year. These safety considerations may impact tenant retention and require enhanced security measures or property management strategies to maintain competitive positioning.
The greater San Diego employment corridor provides access to major corporate anchors within commuting distance, supporting workforce housing demand for the property's tenant base.
- Sysco — food service distribution (13.3 miles)
- Gilead Sciences — biotechnology (13.6 miles)
- NRG Energy — energy services (13.6 miles)
- Qualcomm — telecommunications technology (17.3 miles) — HQ
- Celgene Corporation — pharmaceutical (18.5 miles)
This 44-unit property benefits from Escondido's highly concentrated rental market, where 89.7% of housing units are renter-occupied, ranking in the top percentile nationally. The 1979 construction vintage presents value-add potential through strategic capital improvements, while demographic projections show household expansion of nearly 30% over five years within the 3-mile radius. However, commercial real estate analysis reveals safety challenges that require active management consideration.
The neighborhood's amenity density, particularly grocery access ranking in the 100th percentile nationally, supports tenant retention and leasing velocity. Elevated home values creating an 8.4 value-to-income ratio reinforce rental demand by maintaining ownership barriers. Proximity to major San Diego employers including Qualcomm headquarters provides workforce housing appeal, though crime metrics warrant enhanced security planning.
- Highly concentrated rental market with 89.7% renter occupancy
- Value-add potential from 1979 vintage allowing strategic improvements
- Strong household formation projections supporting tenant demand
- Exceptional amenity access with top-percentile grocery density
- Crime challenges require enhanced security measures and active management