| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 72nd | Good |
| Amenities | 16th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 218 Rancho Del Oro Dr, Oceanside, CA, 92057, US |
| Region / Metro | Oceanside |
| Year of Construction | 1986 |
| Units | 66 |
| Transaction Date | 2001-03-30 |
| Transaction Price | $11,325,500 |
| Buyer | EQR MISSION HILLS LLC |
| Seller | AGL INVESTMENTS #2 LTD PARTNERSHIP |
218 Rancho Del Oro Dr Oceanside Multifamily Investment
Neighborhood occupancy trends are steady and renter demand is reinforced by elevated ownership costs, according to WDSuite s CRE market data. Pricing power should be managed against retention given rents track high for the area.
This Oceanside asset sits in a B- rated neighborhood that is roughly mid-pack among 621 San Diego metro neighborhoods, offering solid fundamentals without premium pricing. Neighborhood occupancy is above the metro median, supporting income stability for well-managed properties. The area s renter-occupied share is about half of housing units, indicating a balanced tenant base and depth for multifamily demand rather than dependence on a narrow segment.
Local amenity density skews lean for retail and dining within the immediate neighborhood, while childcare access ranks among the strongest in the metro. For investors, this mix suggests convenience for families and commuters but less foot-traffic driven retail nearby; demand should be evaluated more on housing and employment access than lifestyle retail clustering.
Within a 3-mile radius, population has been broadly stable with signs of household growth ahead as average household size is projected to edge lower. That combination typically expands the renter pool and supports occupancy durability for appropriately positioned units. Median household incomes are comparatively strong for the region, and a rent-to-income ratio near 0.27 implies manageable affordability pressure locally, which can aid lease retention and reduce turnover risk.
Home values sit high relative to national norms while neighborhood asking rents are also elevated. In practice, the high-cost ownership market can sustain reliance on multifamily housing, supporting demand even as operators should calibrate renewals and concessions to maintain retention amid premium rent levels.
Safety indicators for the neighborhood are below national averages (around the 33rd percentile nationwide), and comparative positioning in the San Diego metro is somewhat below the middle of the pack among 621 neighborhoods. Recent data also show an uptick in property offenses year over year. Investors should underwrite with prudent security measures and tenant screening, and monitor submarket trends rather than relying on block-level assumptions.
Nearby employers span biotech/pharma, energy services, and technology, providing a diversified employment base that supports commuter convenience and renter demand for workforce housing. Specifically, Gilead Sciences, NRG Energy, Qualcomm, Celgene, and Sysco represent notable demand drivers within a feasible commute.
- Gilead Sciences biotechnology (1.8 miles)
- NRG Energy energy services (6.8 miles)
- Qualcomm technology (23.7 miles) HQ
- Celgene Corporation biotechnology (24.2 miles)
- Sysco foodservice distribution (25.2 miles)
Built in 1986, this 66-unit asset offers scale with value-add potential through targeted modernization and system upgrades typical of late-1980s construction. Neighborhood occupancy sits above the metro median and the renter-occupied share is balanced, signaling a broad tenant base and support for lease-up and retention. Elevated home values relative to national benchmarks reinforce reliance on rentals, while a rent-to-income ratio near 0.27 points to manageable affordability pressure that can sustain renewals.
According to CRE market data from WDSuite, the immediate area is steady rather than premium, with amenity density lean but strong regional employment access. Forward-looking demographics within a 3-mile radius point to more households even as average household size moderates, which typically expands the renter pool and supports occupancy stability for well-positioned units. Underwriting should account for security measures and capital planning consistent with the property s vintage.
- Above-metro-median neighborhood occupancy supports income stability
- Balanced renter concentration indicates depth of tenant demand
- High-cost ownership environment sustains multifamily reliance and pricing power
- 1986 vintage presents value-add and capex planning opportunities
- Risks: below-average safety indicators and lean amenity density warrant prudent management