| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Poor |
| Demographics | 58th | Fair |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1505 Alvarado St, Oceanside, CA, 92054, US |
| Region / Metro | Oceanside |
| Year of Construction | 1987 |
| Units | 24 |
| Transaction Date | 1997-04-24 |
| Transaction Price | $286,500 |
| Buyer | HOWELLS MORGAN E |
| Seller | MCBRIDE LAURENCE E |
1505 Alvarado St Oceanside Multifamily with Stable Demand
Neighborhood fundamentals point to steady renter demand near the San Diego coast, with occupancy trends sitting around metro norms according to WDSuite’s CRE market data.
Located in Oceanside within the San Diego–Chula Vista–Carlsbad metro, the neighborhood rates A- (ranked 138 of 621), signaling solid livability for renters and long-term leasing potential. Amenities are competitive among San Diego neighborhoods (amenity rank 76 of 621), with strong access to parks, pharmacies, and everyday retail. Restaurant density tests in the top quartile nationally, while cafes are thinner, suggesting convenience for daily needs and dining with fewer third-place options.
Renter demand is supported by a high renter-occupied share within a 3-mile radius (about 60% of housing units), creating a broad tenant base and depth for lease-up and renewals. Neighborhood rents benchmark high versus national peers (near the 98th percentile), indicating pricing power relative to many markets; lease management should balance this with local income profiles to sustain retention. Occupancy is near the metro average, which generally supports durable cash flows when paired with the area’s service and leisure employment base.
Within a 3-mile radius, the population has been relatively stable recently but is projected to grow by roughly 7% by 2028, with households projected to expand by around 40%. This points to a larger tenant base and potential renter pool expansion over the medium term, even as average household size trends smaller. Incomes in the area have risen and are expected to continue climbing, which can support rent levels and reduce turnover risk for well-positioned assets.
Home values are elevated versus national benchmarks (near the upper deciles), a typical dynamic in coastal Southern California. A high-cost ownership market tends to sustain multifamily demand and can support pricing power and lease retention. Local school ratings test below the national median, which may temper appeal for some family renters but can keep demand resilient among young professionals and service workers who prioritize proximity and amenities.
Safety indicators are mixed and should be evaluated at the neighborhood and submarket level rather than the block. The neighborhood’s crime rank (64 of 621 San Diego metro neighborhoods) indicates higher crime relative to many metro peers, and its national standing trends slightly below average for safety. At the same time, recent data show year-over-year declines in both property and violent offenses, placing these improvements above many neighborhoods nationally. For investors, this suggests monitoring trends and security line items, while recognizing that the recent direction has been favorable.
Nearby employers span biotech, energy, and technology, supporting a diversified renter base and commute convenience for workforce and professional tenants. Key nodes include Gilead Sciences, NRG Energy, Qualcomm offices and headquarters, and Celgene.
- Gilead Sciences — biotech (4.5 miles)
- NRG Energy — energy (4.7 miles)
- Qualcomm — wireless & semiconductors offices (21.5 miles)
- Qualcomm — wireless & semiconductors (21.8 miles) — HQ
- Celgene Corporation — biotech (22.2 miles)
This 24-unit asset sits in an Oceanside neighborhood with competitive amenities and a renter-heavy 3-mile trade area, supporting steady leasing and renewal prospects. Elevated home values relative to national benchmarks reinforce reliance on multifamily, while neighborhood rent positioning suggests pricing power for well-managed properties. According to CRE market data from WDSuite, occupancy trends are near metro norms, and recent safety metrics show directionally improving offenses—factors that underpin operational stability when paired with prudent expense control.
Forward-looking demand signals are constructive: households in the 3-mile radius are projected to expand meaningfully, incomes are trending higher, and the local employment base includes biotech, energy, and technology nodes within commutable range. Execution focus should include resident retention in a high-rent context, selective upgrades to drive rent-quality alignment, and continued monitoring of school perception and neighborhood safety trends.
- Renter-centric 3-mile trade area supports depth of tenant demand and lease-up velocity
- Elevated ownership costs bolster rental reliance and potential pricing power
- Household and income growth forecasts point to a larger, higher-earning renter pool
- Proximity to biotech, energy, and tech employers supports occupancy and retention
- Risks: below-median school ratings and a relatively higher-crime rank require ongoing monitoring and smart on-site management