| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 31st | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 460 E Washington Ave, Escondido, CA, 92025, US |
| Region / Metro | Escondido |
| Year of Construction | 1975 |
| Units | 91 |
| Transaction Date | 2015-07-11 |
| Transaction Price | $9,110,000 |
| Buyer | SUMMIT ROSE APARTMENTS LP |
| Seller | SOUTHWEST SUMMIT ROSE LP |
460 E Washington Ave Escondido Multifamily Investment
This 91-unit property built in 1975 positions in a renter-dominated neighborhood with 89.7% rental occupancy. Commercial real estate analysis shows strong NOI performance at $9,474 per unit, ranking in the top 22% of San Diego metro neighborhoods.
Located in Escondido's Urban Core, this neighborhood demonstrates strong rental fundamentals with an exceptional 89.7% rental occupancy share ranking 4th among 621 San Diego metro neighborhoods. The area maintains 94.6% occupancy rates with median rents at $1,612, supported by a dense renter population that reinforces multifamily demand.
The 1975 construction year aligns with the neighborhood average of 1973, suggesting potential value-add opportunities through strategic renovations and unit improvements. Demographics within a 3-mile radius show a stable tenant base with household growth of 12.9% over five years, while projected household income increases of 40.6% through 2028 support rent growth potential.
Amenity access strengthens tenant retention with exceptional grocery density ranking 2nd metro-wide at 25.14 stores per square mile, plus strong restaurant and pharmacy access. The area's $600,000 median home values create affordability barriers that sustain rental demand, though investors should monitor the 8.4 value-to-income ratio which ranks in the 96th percentile nationally and could influence long-term rental competition.
Crime metrics present challenges that require careful tenant management and security considerations. Property offense rates of 4,525 per 100,000 residents rank 566th among 621 metro neighborhoods, placing this area in the bottom quartile locally with a 3rd percentile national ranking.
Violent crime rates of 976 per 100,000 residents similarly rank 572nd metro-wide, though recent trends show a modest 2% decline year-over-year. Investors should factor enhanced security measures and tenant screening into operational planning while monitoring neighborhood improvement initiatives.
Major corporate employers within commuting distance support workforce housing demand, anchored by technology and healthcare sectors.
- Sysco — food distribution services (13.4 miles)
- Gilead Sciences — biotechnology (13.6 miles)
- NRG Energy — energy services (13.7 miles)
- Qualcomm — telecommunications technology (17.4 miles) — HQ
- Celgene Corporation — pharmaceutical research (18.5 miles)
This 91-unit property leverages exceptional rental market fundamentals in a neighborhood where nearly 90% of housing units are renter-occupied, creating deep tenant demand. According to CRE market data from WDSuite, the area generates above-average NOI at $9,474 per unit while maintaining 94.6% occupancy rates. The 1975 vintage presents value-add opportunities through unit renovations and common area improvements.
Demographic projections within the 3-mile radius show household income growth of 40.6% through 2028, supporting rent advancement potential. High home values at $600,000 median reinforce rental demand by limiting ownership transitions, while dense amenity access including top-tier grocery and restaurant availability enhances tenant retention.
- Strong rental fundamentals with 89.7% neighborhood rental occupancy ranking 4th metro-wide
- Above-average NOI performance at $9,474 per unit in top quartile of metro neighborhoods
- Value-add potential through strategic renovations of 1975-vintage units
- Projected 40.6% household income growth supports rent advancement through 2028
- Crime metrics rank in bottom quartile metro-wide, requiring enhanced security planning