| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 35th | Poor |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 528 De Luz Rd, Fallbrook, CA, 92028, US |
| Region / Metro | Fallbrook |
| Year of Construction | 2000 |
| Units | 32 |
| Transaction Date | 2013-08-21 |
| Transaction Price | $2,880,000 |
| Buyer | CORTEZ PRESERVATION LIMITED PARTNERSHIP |
| Seller | CASA DE CORTEZ APARTMENTS LLC |
528 De Luz Rd Fallbrook Multifamily Investment
Neighborhood occupancy is stable and above the national median, supporting steady tenancy, according to WDSuite’s CRE market data. Elevated ownership costs in the area further reinforce renter reliance on multifamily housing.
This suburban pocket of Fallbrook sits within the San Diego metro and shows steady renter demand alongside generally tight occupancy at the neighborhood level. The area skews more owner-occupied than renter-heavy, but renter concentration remains meaningful for a 32‑unit asset, supporting a viable tenant base and day‑to‑day leasing stability.
Local amenity density is limited for cafés, groceries, parks, and pharmacies, while restaurant options are comparatively stronger than many suburban peers. Investors should underwrite modest on-site conveniences and resident retention driven more by housing fundamentals than walkable retail. School rating data are not available in this dataset.
Home values are elevated relative to national norms, which tends to sustain rental demand as buying requires higher incomes. With rent-to-income levels in the neighborhood closer to manageable territory, operators may see healthier lease retention and fewer abrupt payment issues, though pricing should still be calibrated to value and unit finishes.
Within a 3‑mile radius, demographics indicate recent population growth with households projected to expand further, pointing to a larger tenant base over time. Incomes have been trending higher and median contract rents have risen, aligning with the region’s broader economic pull; these patterns, based on multifamily property research from WDSuite, support the case for demand resilience while warranting thoughtful rent management.
Vintage positioning: Built in 2000 versus an older neighborhood average stock, the property is newer than much of the local inventory. That typically improves competitive positioning against older product, though investors should still plan for mid‑life systems updates and targeted renovations to capture rent premiums.
Safety indicators for the neighborhood track below the national median, suggesting investors should maintain prudent security and resident‑experience practices. Recent trend signals are mixed: estimated property offenses have eased year over year, while estimated violent offenses show a recent uptick. Position this as an operating consideration rather than a thesis driver, and benchmark performance against comparable San Diego metro neighborhoods during underwriting.
Nearby corporate employers provide a diversified white‑collar and industrial employment base that supports leasing demand and commute convenience for residents, including roles in biopharma, energy, consumer goods, homebuilding, and technology.
- Gilead Sciences — biopharma offices (12.5 miles)
- NRG Energy — energy services (18.3 miles)
- General Mills — consumer goods offices (31.8 miles)
- Lennar Homes — homebuilding offices (33.0 miles)
- Qualcomm — technology R&D (33.8 miles) — HQ
528 De Luz Rd offers a 32‑unit, 2000‑vintage asset positioned against an older local stock base, supporting competitive appeal with room for targeted modernization. Neighborhood occupancy trends are firm relative to national norms, while high home values in the area tend to reinforce sustained reliance on rentals and underpin day‑to‑day leasing.
Within a 3‑mile radius, population has expanded recently and households are projected to grow further, indicating a larger tenant pool over time. Incomes have been moving higher alongside rising rents, which can support rent growth if paired with value‑add execution; at the same time, operators should calibrate increases to maintain retention where rent‑to‑income remains balanced. Based on commercial real estate analysis from WDSuite, the location’s fundamentals point to steady demand with operational focus on amenities and resident experience.
- Newer‑than‑area stock (2000) supports competitive positioning versus older comparables.
- Neighborhood occupancy sits above national median, aiding baseline stability.
- Elevated ownership costs in the area bolster rental demand and retention potential.
- 3‑mile demographics point to renter pool expansion and income growth supporting value‑add upside.
- Risks: thinner walkable amenities and below‑median safety metrics require active management and prudent underwriting.