| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Poor |
| Demographics | 41st | Poor |
| Amenities | 39th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1420 Alturas Rd, Fallbrook, CA, 92028, US |
| Region / Metro | Fallbrook |
| Year of Construction | 1981 |
| Units | 60 |
| Transaction Date | 2006-11-20 |
| Transaction Price | $6,000,000 |
| Buyer | SUNSET VIEWS APARTMENTS LLC |
| Seller | B & C PROPERTIES INC |
1420 Alturas Rd Fallbrook Multifamily Investment Outlook
Neighborhood indicators point to steady renter demand supported by a high-cost ownership market and balanced renter concentration, according to WDSuite s CRE market data. Occupancy is measured at the neighborhood level, trending around metro norms rather than at the property.
Fallbrook sits within the San Diego Chula Vista Carlsbad metro an inner-suburb location that offers suburban convenience with access to regional employment nodes. Neighborhood livability skews practical rather than urban: pharmacies are comparatively accessible (top quartile among 621 metro neighborhoods) and parks are competitive among San Diego neighborhoods, while everyday cafes and grocery options are thinner locally. For investors, this mix suggests a residential base that relies on regional retail corridors and drives for amenities rather than dense, walkable clusters.
At the neighborhood level, rents track above national norms and occupancy is near the national midpoint, indicating stable leasing conditions without overheated competition. Median home values rank in the upper national percentiles, reflecting a high-cost ownership market that tends to reinforce reliance on multifamily housing and support lease retention. Value-to-income ratios are also elevated relative to national benchmarks, which generally sustains renter demand depth in this part of North County.
Tenure patterns show a meaningful renter-occupied share of housing units in the neighborhood compared with national averages, signaling a sufficiently deep tenant pool for mid-scale properties. Within a 3-mile radius, demographics indicate recent population growth and a broadly diversified age profile, with WDSuite data pointing to a modestly expanding renter pool through income gains and gradual household changes. Projections suggest relatively steady population levels but more households by the next planning period, reflecting demographic shifts that can underpin ongoing demand for rental housing.
For positioning, investors should note the property s suburban context and commuting orientation. The area s restaurant density is serviceable but not urban, and amenity ranks trend below national averages overall. That backdrop typically favors renters prioritizing space and value relative to coastal submarkets, with pricing power linked more to regional job access and property quality than to immediate walkability.
Safety indicators for the neighborhood are mixed when viewed against national and metro benchmarks. Compared with neighborhoods nationwide, the area sits below the national average for safety, while its metro rank places it closer to the middle of the San Diego pack (424 out of 621 metro neighborhoods). This suggests conditions that are neither among the metro s strongest nor its weakest from a safety standpoint.
Recent trends show year-over-year increases in both violent and property offense estimates. Investors typically underwrite this by emphasizing prevention measures, resident screening, and lighting/security upgrades as part of standard operations, and by benchmarking performance to peer assets across similar inner-suburban locations.
Regional job access is anchored by life sciences, energy, logistics, and technology employers within a commutable radius, supporting workforce and professional renter demand. The following nodes are representative of the employment base served from Fallbrook.
- Gilead Sciences biotechnology offices (11.2 miles)
- Nrg Energy energy services (17.0 miles)
- Sysco food distribution (31.9 miles)
- Qualcomm technology & engineering (32.6 miles) HQ
- General Mills consumer foods (33.1 miles)
The investment case centers on durable renter demand in a high-cost ownership submarket and occupancy that tracks near broader metro norms. Elevated home values and value-to-income ratios relative to national benchmarks tend to sustain reliance on rental housing, while neighborhood-level rents remain competitive versus coastal San Diego. Based on CRE market data from WDSuite, the local renter-occupied presence and median rent positioning support stable leasing with room for targeted operational improvements.
Within a 3-mile radius, WDSuite indicates recent population growth and higher household incomes, with projections calling for steady population levels and more households over the next period a setup that typically expands the tenant base for mid-scale multifamily. Amenity access is uneven locally, so properties that deliver on-site convenience and well-maintained common areas can capture demand from commuting households accessing regional employers.
- High-cost ownership market reinforces renter reliance and supports retention
- Neighborhood occupancy around metro norms indicates stable leasing conditions
- 3-mile demographics show rising household incomes and a larger household base, supporting demand
- Proximity to regional life sciences, logistics, and tech employers underpins commuting renter demand
- Risks: amenity gaps and below-average national safety metrics require prudent operations and underwriting