| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 14th | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 505 N Grape St, Escondido, CA, 92025, US |
| Region / Metro | Escondido |
| Year of Construction | 1973 |
| Units | 23 |
| Transaction Date | 2007-04-27 |
| Transaction Price | $1,775,000 |
| Buyer | CHRISMAN NORMAN D |
| Seller | POHLEN PATRICK J |
505 N Grape St, Escondido CA Multifamily Investment
Positioned in Escondido’s urban core, this 23-unit, 1973 vintage asset benefits from a renter-driven neighborhood and stable occupancy, according to WDSuite’s CRE market data. The investment case centers on durable tenant demand and potential value-add upside relative to nearby older stock.
Livability supports renter retention: the neighborhood scores strong on daily needs with grocery and pharmacy density in the top decile nationally, while parks and restaurants are also comparatively abundant. Café and childcare density are thinner, so convenience is weighted toward essentials rather than lifestyle venues.
For investors screening stability, the neighborhood s occupancy is competitive among San Diego-Chula Vista-Carlsbad, CA neighborhoods (ranked 241 of 621) and sits around the top quintile nationally. The share of housing units that are renter-occupied is very high (top percentile nationally), pointing to a deep tenant base and consistent leasing velocity for multifamily assets.
Home values are elevated relative to income levels (value-to-income near the top of national ranges), which tends to sustain reliance on rental housing and can support pricing power. At the same time, rent-to-income is high in this neighborhood, signaling affordability pressure; operators should emphasize renewal strategies and thoughtful lease management to support retention.
Demographic statistics within a 3-mile radius show households have expanded over the past five years and are projected to increase further by roughly 30% by 2028, even as average household size trends lower. This combination generally broadens the renter pool and supports occupancy stability for well-positioned properties, based on CRE market data from WDSuite.
The property s 1973 construction is older than the neighborhood s average vintage (late 1970s), suggesting potential value-add through unit modernization, common-area updates, or system upgrades to enhance competitiveness against newer supply.
Safety trends should be contextualized at the neighborhood level. Relative to other U.S. neighborhoods, the area benchmarks below national averages for safety, and within the San Diego-Chula Vista-Carlsbad, CA metro it ranks 392 out of 621 neighborhoods. Recent data indicates a one-year uptick in violent incidents alongside a modest rise in property offenses. Investors typically account for this by prioritizing lighting, access control, and community standards as part of operating plans.
Nearby employment centers include foodservice distribution, biopharma, energy, and wireless/semiconductor offices, supporting a broad commuter tenant base and leasing durability at workforce price points. The list below focuses on notable corporate offices within commuting distance.
- Sysco foodservice distribution (13.3 miles)
- Gilead Sciences biopharma (13.8 miles)
- NRG Energy energy (13.8 miles)
- Qualcomm wireless/semiconductors (17.4 miles) HQ
- Celgene Corporation biopharma (18.5 miles)
This 23-unit property offers exposure to a renter-heavy Escondido submarket with neighborhood occupancy competitive within the metro and near top-quintile nationally. Elevated ownership costs reinforce reliance on rental housing, while a very high renter-occupied share indicates depth of demand. With a 1973 vintage, a targeted renovation program can reposition units and systems to compete more effectively with newer product.
Within a 3-mile radius, households have grown and are projected to rise by roughly 30% by 2028, pointing to a larger tenant base and supportive leasing conditions. According to CRE market data from WDSuite, rents in the area have trended upward and are forecast to continue rising, though high rent-to-income ratios in the immediate neighborhood warrant careful renewal and pricing strategies.
- Renter-driven location with neighborhood occupancy competitive among 621 metro neighborhoods and strong national standing
- Elevated ownership costs support sustained multifamily demand and pricing power
- 1973 vintage presents clear value-add potential through modernization and system upgrades
- 3-mile household growth outlook expands the renter pool and supports occupancy stability
- Risks: high rent-to-income ratios, below-average safety benchmarks, and school ratings that may influence certain renter segments