| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 42nd | Poor |
| Amenities | 87th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 525 Alturas Rd, Fallbrook, CA, 92028, US |
| Region / Metro | Fallbrook |
| Year of Construction | 1979 |
| Units | 53 |
| Transaction Date | 2015-09-10 |
| Transaction Price | $6,250,000 |
| Buyer | SUNSET MEADOWS APARTMENTS LLC |
| Seller | B & C PROPERTIES INC |
525 Alturas Rd, Fallbrook CA Multifamily Investment
Neighborhood occupancy is strong and renter demand is supported by a high renter-occupied share, according to WDSuite’s CRE market data, positioning this asset for stable performance within North San Diego County.
Fallbrook’s inner-suburban setting combines daily-needs access with multifamily depth. Neighborhood amenity access ranks in the top quartile nationally, with strong availability of groceries, cafes, childcare, and pharmacies, supporting resident convenience and lease retention. School quality is above the metro median and competitive among San Diego neighborhoods, which can help reinforce family-oriented tenancy.
Occupancy in the neighborhood is top quartile among 621 metro neighborhoods and above national norms, contributing to leasing stability. Median rents track above national levels, while the area’s renter-occupied share of housing units is 58.2%, indicating a sizable tenant base for multifamily owners. Elevated neighborhood NOI per unit (top decile nationally) further underscores income performance potential at the area level.
Within a 3-mile radius, population growth and rising household incomes point to a larger tenant base over the medium term, with projections indicating additional renter pool expansion. Household sizes have been trending larger locally, which can support demand for two- and three-bedroom configurations near community amenities. These dynamics, based on CRE market data from WDSuite, align with steady renter turnover and support for occupancy.
Ownership remains a high-cost proposition in this part of San Diego County, with home values well above national benchmarks. That ownership landscape tends to reinforce reliance on rental housing, supporting pricing power and lease retention for well-managed assets. Built in 1978, the property is slightly newer than the local average vintage, offering relative competitiveness versus older stock while still warranting targeted system updates and modernization to capture value-add upside.
Safety indicators for the neighborhood trend below national norms, with crime metrics ranking weaker relative to many San Diego neighborhoods (ranked closer to the lower end among 621). National percentiles are also low, suggesting safety is a consideration compared with areas that score in higher percentiles.
Investors typically mitigate this with active on-site management, lighting and access controls, and resident engagement. Monitoring trend direction and comparing submarket benchmarks using WDSuite’s CRE market data can help underwrite security-related operating assumptions and capital planning.
Major employers within commuting distance include life sciences, energy, consumer goods, homebuilding, and technology offices, supporting workforce housing demand and commute convenience for renters. The list below reflects nearby anchors relevant to tenant employment and retention.
- Gilead Sciences — life sciences (11.9 miles)
- NRG Energy — energy (17.7 miles)
- General Mills — consumer goods (32.4 miles)
- Lennar Homes — homebuilding (33.0 miles)
- Qualcomm — technology (33.3 miles) — HQ
This 53-unit, 1978-vintage asset benefits from a neighborhood with top-quartile occupancy in the San Diego metro and strong daily-needs access, supporting retention and steady leasing. Elevated home values in the area sustain rental reliance, while a sizable renter-occupied share points to depth in the tenant base. According to CRE market data from WDSuite, neighborhood income performance and rent levels exceed national benchmarks, reinforcing the case for durable cash flow with disciplined operations.
The 1978 construction is slightly newer than the local average, offering relative competitiveness versus older stock, yet still presenting value-add opportunity through targeted common-area, unit, and systems modernization. Demographic trends within a 3-mile radius — including population growth and rising incomes — support ongoing renter pool expansion, though investors should underwrite conservatively given safety metrics that trail stronger San Diego submarkets.
- Top-quartile neighborhood occupancy in the metro supports leasing stability
- High-cost ownership market reinforces reliance on rental housing and pricing power
- 1978 vintage offers value-add potential via modernization and system upgrades
- Nearby employment in life sciences and technology supports workforce demand
- Risk: Safety metrics lag higher-ranked San Diego neighborhoods; plan for active management