| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 35th | Poor |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 624 De Luz Rd, Fallbrook, CA, 92028, US |
| Region / Metro | Fallbrook |
| Year of Construction | 1990 |
| Units | 82 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
624 De Luz Rd Fallbrook Multifamily Investment
This 82-unit property built in 1990 offers value-add potential in a suburban San Diego market where neighborhood occupancy reaches 94.2% according to CRE market data from WDSuite.
This suburban Fallbrook neighborhood ranks in the middle tier among 621 San Diego metro neighborhoods, with a C- rating reflecting mixed fundamentals. The area demonstrates solid occupancy at 94.2%, outpacing many markets nationally at the 66th percentile. With 39% of housing units renter-occupied, the neighborhood maintains a substantial rental base that supports multifamily demand.
Demographics within a 3-mile radius show steady population growth of 6.6% over five years, with household income averaging $101,273. The median contract rent of $1,701 has increased 41% over five years, though affordability ratios remain manageable at 0.25 rent-to-income. Projected household growth of 27.4% through 2028 suggests an expanding renter pool, supporting longer-term occupancy fundamentals.
The neighborhood's amenity profile presents challenges, ranking in the bottom quartile nationally for cafes, grocery stores, and parks. However, restaurant density reaches 2.2 per square mile, placing it at the 68th percentile nationally. The 1990 construction year aligns with the neighborhood average vintage of 1970, indicating potential for strategic capital improvements and rent optimization across the building stock.
Home values averaging $606,149 with 30% five-year appreciation create elevated ownership costs that reinforce rental demand. The rent-to-income ratio of 0.25 suggests reasonable affordability for tenants, though investors should monitor renewal rates as income growth trails rent increases in recent years.
Safety metrics for this Fallbrook neighborhood show mixed performance relative to the San Diego metro area. Property crime rates of 747 incidents per 100,000 residents rank in the lower half among 621 metro neighborhoods, though recent trends show a 5.3% decline year-over-year. Violent crime rates of 243 per 100,000 residents place the area at the 17th percentile nationally, indicating higher incidents compared to most neighborhoods nationwide.
The neighborhood's overall crime ranking places it at 311 out of 621 San Diego area neighborhoods, positioning it near the metro median. While these metrics warrant attention in tenant screening and property management protocols, the declining property crime trend suggests improving conditions that may support tenant retention over time.
The Fallbrook area benefits from proximity to major corporate employers in the broader San Diego region, providing workforce housing opportunities for commuting professionals.
- Gilead Sciences — biotechnology (12.6 miles)
- Nrg Energy — energy services (18.4 miles)
- General Mills — consumer goods (31.8 miles)
- Qualcomm — technology — HQ (33.9 miles)
- Western Digital — technology — HQ (39.1 miles)
This 82-unit Fallbrook property presents a value-add opportunity in a stable suburban market with 94.2% neighborhood occupancy and growing household formation. Built in 1990, the property aligns with area vintage averages while offering potential for strategic capital improvements to capture rent growth in a market where contract rents have increased 41% over five years. Population growth of 6.6% within the 3-mile radius, combined with projected household expansion of 27.4% through 2028, supports fundamental rental demand.
The investment case centers on affordable workforce housing in the San Diego metro, where elevated home values of $606,149 reinforce rental demand among middle-income households. While the neighborhood ranks in the middle tier among 621 metro areas, solid occupancy rates and manageable rent-to-income ratios of 0.25 provide operational stability for value-add execution.
- Strong occupancy fundamentals at 94.2% neighborhood rate, 66th percentile nationally
- Value-add potential through 1990 vintage property improvements
- Growing household base with 27.4% projected expansion through 2028
- Risk consideration: Limited amenity density may impact tenant appeal and retention