| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 14th | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 508 E Mission Ave, Escondido, CA, 92025, US |
| Region / Metro | Escondido |
| Year of Construction | 1978 |
| Units | 61 |
| Transaction Date | 1997-02-07 |
| Transaction Price | $2,100,000 |
| Buyer | ESCONDIDO GARDENS LP |
| Seller | GLENDALE FEDERAL BANK FSB |
508 E Mission Ave, Escondido Multifamily Investment
Neighborhood-level occupancy has trended firm and renter demand is deep, according to WDSuite’s CRE market data, supporting steady operations for a 61-unit asset in Escondido. These metrics reflect the surrounding neighborhood, not the property, and suggest durable leasing fundamentals with room for value-add execution.
Located in Escondido’s Urban Core, the property sits in a neighborhood that is above metro median on overall housing fundamentals and shows strong renter orientation. The share of housing units that are renter-occupied is high at the neighborhood level, indicating a deep tenant base that can support multifamily demand and leasing stability. Neighborhood occupancy is competitive nationally and has edged up over the past five years, reinforcing a baseline of operating consistency.
Daily needs access is a relative strength: grocery and pharmacy density rank in the top tier nationally, and restaurants are also abundant. By contrast, cafe and childcare density is limited in the immediate neighborhood. This mix typically favors workforce and convenience-driven renters, supporting retention even as consumer preferences evolve.
School ratings in the neighborhood track below national norms, which investors may factor into family-oriented leasing strategies. Home values are elevated for the area and, paired with a high value-to-income environment, signal a high-cost ownership market that tends to sustain reliance on multifamily rentals—helpful for demand depth and pricing power, but requiring attentive lease management where rent-to-income ratios run higher.
Within a 3-mile radius, demographics point to a stable-to-expanding renter pool: the number of households has increased even as average household size has declined, and forecasts indicate further growth in households alongside rising incomes. That combination typically broadens the tenant base and supports occupancy while creating potential for quality upgrades to capture demand at varied price points.
Relative to the San Diego-Chula Vista-Carlsbad metro, the neighborhood ranks below the metro median on safety (crime rank 392 among 621 neighborhoods), and national comparisons place it below average on safety metrics. Property and violent offense rates track in lower national percentiles, indicating a higher-crime profile versus U.S. neighborhoods overall.
Recent trend indicators show year-over-year increases in both violent and property offenses at the neighborhood level. For investors, this typically translates into practical considerations around lighting, access control, and resident engagement, as well as underwriting for security measures and insurance. Monitoring ongoing trends and operator practices in the immediate area is prudent.
Proximity to regional employers in life sciences, technology, energy, and logistics supports a broad commuter tenant base and can aid retention through commute convenience. Nearby anchors include Gilead Sciences, Sysco, NRG Energy, Qualcomm, and Celgene.
- Gilead Sciences — biopharma (13.5 miles)
- Sysco — food distribution (13.6 miles)
- NRG Energy — power & energy (13.6 miles)
- Qualcomm — semiconductor & wireless (17.6 miles) — HQ
- Celgene Corporation — biotech (18.8 miles)
Built in 1978 with 61 units, the property offers a classic value-add profile: competitive neighborhood occupancy and a strong renter-occupied housing base provide demand stability, while vintage suggests room for targeted renovations and capital planning to enhance positioning versus newer stock. Elevated ownership costs in the area tend to reinforce rental reliance, supporting depth of the tenant pool and potential pricing power over cycles.
Household growth within 3 miles has expanded alongside rising incomes, and forecasts point to additional household gains and higher rent levels—factors that generally support occupancy stability and measured rent growth, based on CRE market data from WDSuite. Investors should balance these positives against affordability pressure (high rent-to-income at the neighborhood level), below-average school ratings, and safety metrics that may necessitate operational investments.
- Renter-heavy neighborhood supports deep tenant base and steady leasing
- Competitive neighborhood occupancy with five-year improvement trend
- 1978 vintage offers value-add and systems modernization potential
- High-cost ownership market underpins multifamily demand and retention
- Risks: affordability pressure, lower school ratings, and safety requiring active management