| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 42nd | Poor |
| Amenities | 87th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 435 Alturas Rd, Fallbrook, CA, 92028, US |
| Region / Metro | Fallbrook |
| Year of Construction | 2010 |
| Units | 44 |
| Transaction Date | 2006-01-03 |
| Transaction Price | $1,500,000 |
| Buyer | 435 ALTURAS LLC |
| Seller | SPRINGBROOK GROVE |
435 Alturas Rd Fallbrook Multifamily Investment
This 44-unit property built in 2010 benefits from strong neighborhood occupancy rates of 98.8% and above-average NOI per unit, according to CRE market data from WDSuite.
The Fallbrook area demonstrates strong rental market fundamentals with neighborhood-level occupancy rates of 98.8%, ranking in the top quartile among 621 metro neighborhoods. This inner suburb location features an amenity-rich environment ranking in the 88th percentile nationally, with strong grocery store density and restaurant access supporting tenant retention.
The property's 2010 construction year positions it well relative to the neighborhood average of 1972, providing a competitive advantage in terms of reduced near-term capital expenditure needs. With 58.2% of housing units renter-occupied, the area maintains solid rental demand fundamentals.
Demographics within a 3-mile radius show a stable population base of approximately 30,180 residents, with household income growth trends supporting rental affordability. The area's median contract rent of $1,682 reflects pricing power, while forecasted household growth of 27% over the next five years suggests expanding renter pool expansion to support occupancy stability.
School ratings average 3.3 out of 5, ranking in the 70th percentile nationally, which helps attract family renters. The neighborhood's housing rank places it in the 83rd percentile nationally, indicating strong overall housing market conditions that support multifamily investment fundamentals.
Crime metrics show the neighborhood ranking 585th among 621 metro neighborhoods, placing it in the 17th percentile nationally for safety. Property offense rates have increased 19.5% year-over-year, while violent crime rates have risen 40.7% over the same period.
Investors should factor these safety trends into tenant retention strategies and consider security enhancements as part of capital improvement planning. The area's crime resilience ranking of 375th among metro neighborhoods suggests monitoring local safety initiatives and community policing efforts will be important for long-term asset management.
The property benefits from proximity to major San Diego County employers, with several Fortune 500 companies providing workforce housing demand within reasonable commuting distance.
- Gilead Sciences — biotechnology (11.9 miles)
- Nrg Energy — energy services (17.7 miles)
- General Mills — consumer goods (32.3 miles)
- Qualcomm — technology & telecommunications (33.4 miles) — HQ
- Celgene Corporation — biotechnology (34.1 miles)
This 44-unit property built in 2010 offers attractive fundamentals in a market with demonstrated rental demand stability. The neighborhood's 98.8% occupancy rate ranks in the top quartile among San Diego metro neighborhoods, while NOI per unit averaging $12,388 places the area in the 89th percentile nationally. According to commercial real estate analysis from WDSuite, the property's newer vintage relative to the 1972 neighborhood average positions it competitively for reduced maintenance capital needs.
Demographic projections within a 3-mile radius show household growth of 27% forecasted through 2028, supporting expansion of the renter pool. However, investors should carefully evaluate the area's safety profile, as crime metrics rank in the lower quartiles both regionally and nationally, requiring consideration of security improvements and tenant retention strategies.
- Strong occupancy fundamentals with 98.8% neighborhood rates ranking top quartile regionally
- Above-average NOI per unit performance in 89th percentile nationally
- 2010 construction provides competitive positioning versus older neighborhood stock
- Projected 27% household growth through 2028 supports rental demand expansion
- Risk consideration: Crime metrics require attention to security and tenant retention strategies