| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 14th | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 624 E Mission Ave, Escondido, CA, 92025, US |
| Region / Metro | Escondido |
| Year of Construction | 1973 |
| Units | 38 |
| Transaction Date | 2013-11-15 |
| Transaction Price | $5,175,000 |
| Buyer | 3630 BAYSIDE LLC |
| Seller | ESCONDIDO MV/MB LLC |
624 E Mission Ave Escondido Multifamily Opportunity
Neighborhood metrics point to a deep renter pool and steady occupancy, according to WDSuite’s CRE market data. High renter-occupied share and above-average neighborhood occupancy support durable demand, with pricing set against a high-cost ownership backdrop.
Located in Escondido’s Urban Core, the neighborhood surrounding 624 E Mission Ave carries a C+ rating and ranks 428 out of 621 metro neighborhoods, placing it below the metro median but with several supportive demand drivers for workforce housing. Neighborhood occupancy is strong and sits in the 80th percentile nationally, signaling stable leasing conditions relative to many U.S. areas.
Retail convenience is a clear strength: grocery and pharmacy density rank near the top of the metro (each competitive among San Diego–Chula Vista–Carlsbad neighborhoods) and score in the 99th percentile nationally, while restaurants are also high relative to national peers. By contrast, cafes and childcare are sparse locally (ranks both 621 of 621), which may limit certain lifestyle conveniences. Average school ratings sit in the lower national percentiles, an important consideration for family-oriented tenant profiles.
The neighborhood’s renter concentration is high (77.8% of housing units are renter-occupied; rank 24 of 621), indicating a deep tenant base for multifamily assets. Median contract rents benchmark above national norms (85th percentile), while the local occupancy rate remains elevated, supporting income stability. Median home values track high for the U.S. (80th percentile) and the value-to-income ratio sits near the top nationally (98th percentile), creating a high-cost ownership market that tends to reinforce reliance on rental housing and support retention.
Within a 3-mile radius, households expanded over the last five years and are projected to continue rising by 2028, even as average household size trends slightly lower. This combination implies a broader household count and a potentially larger renter pool over time, which can underpin occupancy and reduce volatility through cycles. Construction vintage for the property is 1973, earlier than the neighborhood’s average year (1979; rank 341 of 621), pointing to potential value-add or systems modernization to stay competitive against newer stock.
Safety conditions merit monitoring. The neighborhood’s crime rank is 392 out of 621 within the San Diego–Chula Vista–Carlsbad metro, indicating below-metro-average safety. Nationally, the area sits in the lower percentiles for both property and violent offenses, so prudent security measures and tenant communications may be relevant for risk management.
Recent year-over-year estimates indicate an uptick in violent offenses and a modest increase in property offenses. While these are neighborhood-level trends rather than block-specific indicators, they provide useful context for underwriting assumptions and operating plans.
Proximity to regional employers supports commute convenience and helps sustain renter demand. Key employment nodes within driving distance include biotechnology, distribution, energy, and wireless corporate offices cited below.
- Gilead Sciences — biotechnology corporate offices (13.6 miles)
- Sysco — food distribution corporate offices (13.6 miles)
- NRG Energy — energy corporate offices (13.7 miles)
- Qualcomm — wireless & semiconductors corporate offices (17.6 miles) — HQ
- Celgene Corporation — biopharma corporate offices (18.8 miles)
This 38-unit property built in 1973 sits in a high-renter neighborhood with occupancy in the upper national percentiles, supporting income stability relative to many markets. Elevated home values and a high value-to-income ratio at the neighborhood level point to a high-cost ownership environment that reinforces reliance on multifamily housing. Within a 3-mile radius, household counts have risen and are projected to keep growing, expanding the tenant base even as household sizes ease lower. Older vintage suggests potential value-add through unit renovations or system upgrades to compete with newer stock.
Benchmarking against metro and national trends shows rents that outpace national norms while occupancy remains solid, according to commercial real estate analysis from WDSuite. Investor focus should include affordability pressure management, operating discipline on renewals, and capital planning to address age-related items and to capture renovation upside.
- High renter-occupied share and strong neighborhood occupancy support stable leasing
- High-cost ownership market sustains rental demand and potential retention
- 1973 vintage offers value-add and modernization opportunities
- Growing household counts within 3 miles expand the renter pool over time
- Risks: affordability pressures (rent-to-income), below-metro-average safety, and lower school ratings