| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 72nd | Good |
| Amenities | 16th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 190 Via Pelicano, Oceanside, CA, 92057, US |
| Region / Metro | Oceanside |
| Year of Construction | 2003 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
190 Via Pelicano Oceanside Multifamily Investment
Neighborhood-level occupancy has held in the low-to-mid 90s, pointing to income stability near the asset, based on CRE market data from WDSuite; note these occupancy metrics reflect the surrounding neighborhood, not the property itself.
Located in Oceanside within the San Diego–Chula Vista–Carlsbad metro, the neighborhood posts a B- rating and sits above the metro median overall (rank 328 of 621). Occupancy in the area is also above the metro median (rank 307 of 621), a favorable signal for collections and lease retention for nearby multifamily.
The local renter base is deep: renter-occupied housing comprises a high share of neighborhood units (rank 176 of 621; top decile nationally), supporting demand depth for a 28-unit property. Median contract rents in the neighborhood benchmark high (95th percentile nationally), while the rent-to-income ratio tracks low (9th percentile nationally) — a combination that suggests manageable affordability pressure and potential for stable renewals rather than frequent turnover.
Ownership costs are elevated in context (home values and value-to-income around the low-90s percentiles nationally), which tends to reinforce reliance on rental housing and supports pricing power for well-maintained product. The area’s housing fundamentals are competitive among metro peers (housing rank 125 of 621; top quartile nationally), and NOI per unit trends are above national averages (71st percentile), according to WDSuite’s commercial real estate analysis.
Amenity density within the immediate neighborhood is limited (restaurants, groceries, parks near the bottom of metro distributions), yet childcare access is a notable outlier strength (rank 17 of 621; 99th percentile nationally). For investors, this mix implies residents may rely on nearby corridors for retail and services, while family-oriented demand drivers remain present.
Construction vintage in the neighborhood averages 1989, while the subject property’s 2003 vintage is newer. That positioning can be competitively favorable versus older stock; investors should still budget for ongoing systems maintenance and potential common-area refreshes to sustain leasing velocity.
Within a 3-mile radius, demographics indicate modest recent population growth with a projected shift toward smaller household sizes and a notable increase in household count over the next five years. This pattern typically broadens the renter pool and supports occupancy stability for professionally managed multifamily, per WDSuite’s CRE market data.
Safety indicators for the neighborhood trend below national medians, with violent and property offense measures in lower national percentiles. Relative to the San Diego–Chula Vista–Carlsbad metro, the neighborhood’s overall crime rank is 266 out of 621, indicating investors should underwrite prudent security measures and insurance assumptions while monitoring trends over time.
Framing this at a high level helps avoid over-interpreting block-by-block variation; investors typically focus on pragmatic steps such as lighting, access control, and resident engagement to support retention and mitigate exposure as conditions evolve.
Nearby employers span biotech, energy, and technology, providing a diversified employment base that supports renter demand and commute convenience for workforce tenants; the list below reflects those with the closest presence to the property.
- Gilead Sciences — biotechnology offices (1.5 miles)
- NRG Energy — energy services (7.0 miles)
- Qualcomm — technology offices (23.7 miles) — HQ
- Celgene Corporation — biotechnology offices (24.3 miles)
- Sysco — foodservice distribution (24.9 miles)
Built in 2003, this 28-unit asset is newer than the neighborhood’s average vintage, offering a competitive edge versus older stock while still warranting routine systems maintenance and selective upgrades to sustain rentability. Neighborhood occupancy sits above the metro median and renter concentration is high, signaling a broad tenant base and potential for steady lease renewals. Elevated ownership costs in the area further support sustained reliance on multifamily housing, and rent-to-income levels indicate relatively low affordability pressure that can help with retention, according to CRE market data from WDSuite.
Within a 3-mile radius, recent modest population growth paired with a forecast increase in household count and smaller household sizes points to a larger pool of renters over time. Amenity density is limited in the immediate neighborhood, but strong childcare availability and diversified nearby employers bolster day-to-day livability and leasing fundamentals.
- Newer 2003 vintage relative to the area’s 1980s stock supports competitive positioning
- Above-metro-median neighborhood occupancy and high renter concentration underpin demand
- Elevated ownership costs reinforce reliance on rentals, aiding pricing power and retention
- 3-mile area shows growing household counts and smaller sizes, expanding the renter pool
- Risk: below-national-median safety and limited immediate retail require thoughtful operations and underwriting