| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 32nd | Poor |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 821 Old Stage Rd, Fallbrook, CA, 92028, US |
| Region / Metro | Fallbrook |
| Year of Construction | 1989 |
| Units | 25 |
| Transaction Date | 2000-06-12 |
| Transaction Price | $1,730,000 |
| Buyer | DOAN GEORGE L |
| Seller | JESSEL PROPERTIES LLC |
821 Old Stage Rd, Fallbrook CA Multifamily Investment
Neighborhood occupancy has held in a stable range with roughly half of units renter-occupied, supporting durable tenant demand according to WDSuite’s CRE market data.
Located in Fallbrook within the San Diego–Chula Vista–Carlsbad metro, 821 Old Stage Rd benefits from neighborhood dynamics that are competitive among 621 metro neighborhoods. Restaurant and grocery access test well above national averages, while pharmacies are particularly dense for the area. Park and cafe density is thinner, so on-site amenities and outdoor space can help differentiate.
For investors, the renter-occupied share is around half of housing units, indicating a sizable tenant base and depth for multifamily leasing. Neighborhood occupancy is in the low-to-mid 90s, which has supported steady cash flow historically, though operators should still manage turnover and renewal timing carefully.
Within a 3-mile radius, population has grown over the past five years and is projected to be broadly stable ahead, with household counts expected to increase. This points to a larger tenant base over time and supports occupancy stability, especially for family-oriented layouts.
Ownership costs in the neighborhood are elevated relative to national norms, which tends to reinforce reliance on rentals and can sustain pricing power. Median asking rents also sit above national medians, but rent-to-income levels remain manageable by regional standards, suggesting room for disciplined revenue growth without outsized retention risk.
The property’s 1989 vintage is newer than the neighborhood’s average stock from the late 1970s, offering relative competitiveness versus older buildings. However, investors should plan for ongoing modernization of systems and common areas to maintain positioning against renovated comparables.
Safety performance for the neighborhood trends below metro averages, with a crime rank in the lower tier among 621 San Diego–area neighborhoods. Compared with neighborhoods nationwide, indicators align with a lower national percentile, signaling elevated incident rates relative to the U.S. baseline.
For underwriting and operations, investors may consider measures such as exterior lighting, access control, and community engagement to support retention and reduce non-recoverable costs. Always assess recent, property-level incident reports and trends rather than relying solely on neighborhood aggregates.
Proximity to regional employers supports commuter demand and leasing stability, particularly for workforce households tied to life sciences, energy, food distribution, and technology. Notable nearby employers include Gilead Sciences, NRG Energy, Sysco, General Mills, and Qualcomm.
- Gilead Sciences — biopharma offices (11.9 miles)
- NRG Energy — energy services (17.6 miles)
- Sysco — food distribution (32.3 miles)
- General Mills — consumer foods (32.5 miles)
- Qualcomm — technology offices (32.7 miles)
This 25‑unit multifamily asset at 821 Old Stage Rd features larger-than-typical average unit sizes, appealing to family and roommate demand segments. Neighborhood occupancy has remained resilient and the renter base is substantial, supporting leasing durability. Elevated ownership costs in the area bolster reliance on rentals, while regional rent-to-income levels suggest balanced affordability and potential for disciplined rent growth. According to CRE market data from WDSuite, the surrounding neighborhood ranks above the metro median on retail conveniences like groceries and pharmacies, helpful for retention.
Constructed in 1989, the property offers relative competitiveness versus older local stock from the late 1970s, with scope to enhance through targeted system upgrades and cosmetic renovations to capture value-add upside. Nearby employers across biopharma, energy, food distribution, and technology help diversify the renter pool, reinforcing long-run occupancy stability.
- Larger average unit size supports family-oriented demand and longer tenures
- Stable neighborhood occupancy and sizable renter base underpin cash flow
- Elevated ownership costs sustain rental reliance and pricing power potential
- 1989 vintage offers competitive positioning with targeted renovation upside
- Risk: Safety metrics trend below metro averages, warranting proactive security and OM cost planning