| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 31st | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 463 Theta Gln, Escondido, CA, 92025, US |
| Region / Metro | Escondido |
| Year of Construction | 2012 |
| Units | 30 |
| Transaction Date | 2015-03-27 |
| Transaction Price | $36,855,000 |
| Buyer | LATITUDE DEL LLC |
| Seller | ESCONDIDO PARAMOUNT LLC |
463 Theta Gln Escondido 30-Unit Multifamily
2012 construction with larger floor plans positions this asset competitively versus older neighborhood stock, supporting renter demand according to WDSuite’s CRE market data. High-cost ownership dynamics locally help sustain multifamily reliance and potential pricing power.
Located in Escondido within the San Diego metro, the neighborhood carries a B+ rating and ranks 225 out of 621 metro neighborhoods—competitive among San Diego-Chula Vista-Carlsbad neighborhoods and above the metro median. Restaurant and grocery access are standouts, with densities among the highest nationally, which bolsters day-to-day convenience and leasing appeal.
For investors, the rental backdrop is constructive: neighborhood occupancy is in the mid-90s, and renter demand is supported by a high-cost ownership market relative to incomes. Within a 3-mile radius, just over half of housing units are renter-occupied, indicating a sizable tenant base for 30-unit assets. Median home values in the immediate neighborhood are elevated versus national norms, which tends to sustain reliance on rental housing and can aid retention.
Vintage matters: this property’s 2012 construction is newer than the neighborhood average vintage (1970s era), providing relative competitiveness versus older stock. While the building is modern by local standards, investors should still plan for periodic systems upgrades and light repositioning to align with current renter expectations.
Demographics aggregated within a 3-mile radius indicate households have increased in recent years with smaller average household sizes, and forecasts point to further household growth by the mid-term. That combination typically translates to a larger tenant base and supports occupancy stability. Based on multifamily property research from WDSuite, neighborhood rents sit above national norms, reinforcing the importance of active lease management to balance demand with affordability.
Safety conditions in the immediate neighborhood track below national norms, with crime metrics ranking in the lower tiers of San Diego’s 621 neighborhoods. Recent trends are mixed—violent incidents show slight improvement year over year, while property-related offenses have increased—so prudent risk controls (lighting, access management, and resident engagement) are advisable.
For investors, this context argues for underwriting appropriate security measures and insurance costs while recognizing that strong amenity access and employment reach can still support leasing performance despite comparatively weaker safety readings.
Regional employment access includes food distribution, energy, life sciences, and technology—sectors reflected below that support a diverse renter base and commuting convenience for residents.
- Sysco — food distribution (13.1 miles)
- NRG Energy — energy (13.2 miles)
- Gilead Sciences — life sciences (13.3 miles)
- Qualcomm — technology (16.9 miles) — HQ
- Celgene Corporation — biopharma (18.0 miles)
The property’s 2012 vintage and larger unit sizes create a competitive position versus predominantly 1970s-era neighborhood stock, supporting renter appeal and potential retention. Neighborhood occupancy sits in the mid-90s, and elevated ownership costs relative to incomes reinforce reliance on multifamily housing—factors that can underpin steady leasing, according to CRE market data from WDSuite.
Within a 3-mile radius, household counts have grown with smaller household sizes, and forecasts point to additional household growth and higher incomes through the mid-term—signals consistent with a larger tenant base and support for rent levels. Investors should balance these strengths against affordability pressures in the immediate neighborhood and plan for ongoing capital to keep 2012 systems current and finishes competitive.
- Newer 2012 construction offers competitive positioning versus older neighborhood inventory
- Mid-90s neighborhood occupancy and strong daily amenities support leasing stability
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: affordability pressure in the immediate area and the need for ongoing capex and security measures