| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 23rd | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 485 N Citrus Ave, Escondido, CA, 92027, US |
| Region / Metro | Escondido |
| Year of Construction | 1989 |
| Units | 88 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
485 N Citrus Ave Escondido Multifamily Investment
Neighborhood occupancy is steady and renter demand is durable for this 88-unit asset, according to WDSuite’s CRE market data. Newer-than-area vintage and proximity to everyday amenities support competitive positioning with room for operational improvement.
Situated in Escondido’s Urban Core, the neighborhood shows competitive amenity access within the San Diego metro (amenity rank 243 of 621 neighborhoods), led by strong daily-needs coverage. Grocery density sits in the top percentile nationally, and restaurants are also strong relative to U.S. peers, which can aid leasing velocity and day-to-day resident convenience. Cafes, parks, and pharmacies are limited locally, so on-site programming and transportation access may play a larger role in resident satisfaction.
Neighborhood occupancy is above national norms and has been broadly stable over the past five years, supporting income durability at the submarket level. The area has a high renter concentration, with about two-thirds of housing units renter-occupied, indicating a deep tenant base for multifamily assets rather than a focus on for-sale housing.
Within a 3-mile radius, households have expanded over the last five years and are projected to grow further, even as average household size trends lower. This points to a larger tenant base and steady demand for rental units over the medium term. Median incomes and asking rents have risen and are expected to continue growing, which supports pricing power but calls for attentive lease management to maintain retention where affordability pressure is present.
Home values in the neighborhood are elevated relative to incomes (above most U.S. neighborhoods), creating a high-cost ownership market that tends to reinforce reliance on multifamily rentals and sustain renter demand. Average school ratings are weaker than national peers, which may modestly narrow the resident profile, but strong daily-needs retail and childcare density (top decile nationally) help underpin livability for working households.
The asset’s 1989 construction is newer than the neighborhood’s average vintage (1980). For investors, this typically means relatively stronger competitive positioning versus older stock, while still planning for system updates and targeted renovations to capture value-add upside.
Safety indicators trail national averages, with the neighborhood ranking 247 out of 621 within the San Diego metro. That places it below the metro median and suggests investors should underwrite prudent security and operating practices. Nationally, the neighborhood sits in lower safety percentiles, indicating comparatively higher reported incidents than many U.S. areas.
Recent momentum is mixed: estimated property offense rates declined over the past year, while estimated violent offense rates increased, according to WDSuite’s data. For underwriting, this supports a conservative approach to loss assumptions and a focus on lighting, access control, and resident engagement to support retention.
Regional employers within commuting distance underpin renter demand and help support retention, particularly among households prioritizing proximity to logistics, life sciences, and technology roles. Notable nearby employers include Sysco, Gilead Sciences, NRG Energy, Qualcomm, and Celgene.
- Sysco — food distribution (14.3 miles)
- Gilead Sciences — biopharmaceuticals (15.1 miles)
- NRG Energy — energy services (15.6 miles)
- Qualcomm — wireless technology (19.1 miles) — HQ
- Celgene Corporation — biotechnology (20.3 miles)
This 88-unit property benefits from a renter-heavy neighborhood with occupancy above national norms and steady recent performance. Daily-needs amenities are strong by national standards, supporting convenience and leasing, while rising incomes and rents in the 3-mile trade area point to continued demand and potential pricing power. According to commercial real estate analysis from WDSuite, the area’s NOI per unit ranks among stronger U.S. neighborhoods, reinforcing income potential at the neighborhood level.
Built in 1989, the asset is newer than the local average vintage. That positioning should remain competitive versus older stock, with targeted modernization and common-area refreshes likely to drive value-add upside. Elevated ownership costs relative to incomes bolster the renter pool, though investors should plan for affordability-sensitive lease management, given higher rent-to-income dynamics and mixed safety and school metrics.
- Renter-occupied share is high locally, supporting a deep tenant base and occupancy stability.
- Strong daily-needs amenity access (notably groceries and restaurants) aids resident convenience and leasing.
- 1989 vintage offers competitive positioning with value-add potential via selective system and interior updates.
- Income and rent growth in the 3-mile radius support long-run demand and potential pricing power.
- Risks: below-metro-average safety and lower school ratings; manage with conservative underwriting and resident retention strategies.