| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 23rd | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 417 N Citrus Ave, Escondido, CA, 92027, US |
| Region / Metro | Escondido |
| Year of Construction | 1984 |
| Units | 29 |
| Transaction Date | --- |
| Transaction Price | $1,100,000 |
| Buyer | OWNERSHIP NAME INFORMATION |
| Seller | --- |
417 N Citrus Ave Escondido Multifamily Investment Thesis
Neighborhood occupancy remains steady with a deep renter base, pointing to durable leasing fundamentals according to WDSuite’s CRE market data. Proximity to everyday retail supports resident convenience, while mid-1980s vintage suggests potential value-add through targeted modernization.
Escondido’s Urban Core setting provides daily convenience for renters, with grocery access ranking competitive among San Diego-Chula Vista-Carlsbad neighborhoods and in the top quartile nationally; restaurants and childcare density also score in the top quartile nationwide. By contrast, cafes, parks, and pharmacies are limited locally, so resident lifestyle appeal leans more toward practical amenities than recreation.
The neighborhood’s renter-occupied share is high (ranked competitive in the metro and well above national medians), which supports depth of tenant demand and leasing velocity. Neighborhood occupancy is above national medians, indicating generally stable rent rolls; paired with an above-average NOI per unit (top quintile nationally), the submarket has demonstrated operating resilience. For a 1984 asset, investors can underwrite selective systems upgrades and unit renovations to improve competitive positioning versus older nearby stock.
Within a 3-mile radius, recent population change has been modest while household counts have increased, implying smaller household sizes and a broader renter pool. Looking forward, WDSuite’s commercial real estate analysis indicates continued growth in households alongside rising incomes, which can reinforce multifamily demand and support occupancy stability and pricing power.
Ownership remains a high-cost option relative to local incomes (value-to-income ratios are elevated), which tends to sustain reliance on rental housing. School ratings in the area are below national medians, so family-oriented leasing may require positioning on space, convenience to services, and value relative to single-family alternatives.
Safety outcomes here trail national medians, and the neighborhood ranks in the lower half among 621 San Diego-Chula Vista-Carlsbad neighborhoods. Even so, WDSuite data shows property offenses declining year over year, indicating some improvement in recent trends.
For underwriting, investors typically account for appropriate lighting, access control, and resident engagement to support retention and mitigate risk, while monitoring local trendlines rather than block-level variation.
Nearby corporate nodes offer employment across food distribution, life sciences, energy, and technology, supporting commuter convenience and a stable renter base. The bullets reflect key employers within a commutable radius that can underpin leasing demand.
- Sysco — food distribution (14.1 miles)
- Gilead Sciences — life sciences (15.1 miles)
- NRG Energy — energy (15.6 miles)
- Qualcomm — technology (18.9 miles) — HQ
- Celgene Corporation — life sciences (20.2 miles)
417 N Citrus Ave offers investors exposure to a renter-heavy pocket of Escondido where neighborhood occupancy trends sit above national medians and everyday retail access is a local strength. Based on CRE market data from WDSuite, household growth within a 3-mile radius and elevated ownership costs support a durable tenant base, while limited parks and cafes suggest positioning around convenience and value.
The 1984 vintage creates a practical value-add path: targeted unit and systems updates can lift competitiveness against older nearby stock without the replacement cost of new construction. Monitoring safety and school perceptions is prudent, but proximity to diverse employment centers and solid operating benchmarks provide a credible long-term thesis for stable cash flow with incremental upside from renovations and lease management.
- Renter-heavy area with occupancy above national medians supports consistent leasing
- Everyday retail density (groceries, restaurants, childcare) enhances resident convenience and retention
- 1984 vintage provides value-add potential via targeted renovations and systems upgrades
- Risks: below-median safety and school ratings, limited parks/cafes, and affordability pressure require active asset and lease management