| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 25th | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2326 Greenbrier Dr, Oceanside, CA, 92054, US |
| Region / Metro | Oceanside |
| Year of Construction | 1980 |
| Units | 25 |
| Transaction Date | 2024-05-15 |
| Transaction Price | $8,620,000 |
| Buyer | ROMNEY FAMILY RESID 15 LLC |
| Seller | PERRY FAMILY TRUST |
2326 Greenbrier Dr Oceanside Multifamily Investment
This 25-unit property benefits from strong neighborhood-level occupancy at 94.9% and exceptional rental demand, with 86.9% of housing units renter-occupied according to CRE market data from WDSuite.
Built in 1980, this property sits within an Urban Core neighborhood that ranks in the top quartile nationally for housing fundamentals and demonstrates strong rental market dynamics. The neighborhood's 86.9% renter occupancy rate ranks 9th among 621 San Diego metro neighborhoods, reflecting sustained multifamily demand in this area.
Demographics within a 3-mile radius show a stable tenant base with 73,458 residents and household income growth supporting rental affordability. Current median household income of $81,571 has increased 33.7% over five years, while contract rents remain manageable at $1,960. The area's rent-to-income dynamics provide solid tenant retention potential, though investors should monitor affordability pressure as rents continue adjusting upward.
The neighborhood offers strong amenity density with 21.6 restaurants per square mile ranking in the 97th percentile nationally, plus above-average childcare and pharmacy access supporting family-oriented renters. Home values averaging $692,023 with 25.6% appreciation over five years reinforce rental demand by keeping homeownership costs elevated relative to local incomes, sustaining the renter pool for multifamily properties.
Forward-looking demographics project 4% population growth through 2028, with household formation expected to expand the rental base by 37%. This growth, combined with the neighborhood's established rental tenure patterns, supports occupancy stability and gradual rent advancement for well-positioned properties.
Property crime rates in the neighborhood show improvement trends, with estimated rates declining 19% year-over-year according to recent data. While property crime ranks 264th among 621 San Diego metro neighborhoods, the downward trajectory suggests stabilizing conditions that support tenant retention and property operations.
Violent crime rates remain below many urban core areas, though investors should factor ongoing security considerations into property management strategies. The neighborhood's crime profile reflects typical patterns for dense rental markets, requiring standard multifamily security measures and tenant screening protocols.
The property benefits from proximity to diverse corporate employers supporting workforce housing demand, including biotechnology and energy sector offices within commuting distance.
- Gilead Sciences — biotechnology (3.6 miles)
- Nrg Energy — energy services (5.6 miles)
- Qualcomm — technology headquarters (22.8 miles) — HQ
- Celgene Corporation — pharmaceuticals (23.2 miles)
- Sempra Energy — utilities headquarters (34.9 miles) — HQ
The property's 1980 construction year positions it for potential value-add opportunities through strategic capital improvements while benefiting from an established rental market with 94.9% neighborhood occupancy. Strong demographic fundamentals include projected 4% population growth through 2028 and household expansion of 37%, supporting sustained rental demand in this Urban Core location.
Commercial real estate analysis from WDSuite indicates the neighborhood's exceptional rental tenure profile, with 86.9% of housing units renter-occupied ranking 9th among 621 metro neighborhoods. Home values averaging $692,023 maintain elevated ownership costs that reinforce multifamily demand, while income growth of 33.7% over five years supports rent advancement potential.
- Strong occupancy fundamentals with 94.9% neighborhood rate and dominant 86.9% renter tenure
- Value-add potential from 1980 vintage allowing strategic improvements and repositioning
- Demographic growth projecting 4% population increase and 37% household expansion through 2028
- Elevated home values sustaining rental demand by keeping ownership costs above local income levels
- Risk consideration: Monitor affordability pressure as rent-to-income ratios require careful lease management