| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 72nd | Good |
| Amenities | 16th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 304 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 |
304 Rancho Del Oro Dr Oceanside Multifamily Investment
Neighborhood occupancy is solid and renter demand is supported by a balanced renter-occupied housing base, according to WDSuite’s CRE market data, positioning this asset for steady leasing performance in North San Diego County.
Set within Oceanside’s Urban Core, the neighborhood carries a B- rating and sits mid-pack within the San Diego metro. For investors, this points to dependable fundamentals rather than an emerging outlier, with conditions conducive to stable operations rather than outsized volatility.
The property’s 1986 vintage is slightly older than the neighborhood’s average construction year (late 1980s), which suggests clear value-add and modernization pathways. Select interior upgrades and systems refreshes can improve competitive positioning versus nearby late-1980s stock while supporting rent premiums where feasible.
Renter concentration in the neighborhood is just under half of housing units being renter-occupied, indicating a sizable tenant base and demand depth for a 66-unit asset. Neighborhood occupancy is strong, and median contract rents track high for the metro, aligning with above-average household incomes. Elevated home values relative to income at the neighborhood level reinforce reliance on multifamily housing, which can aid lease retention and pricing power.
Within a 3-mile radius, recent population trends have been broadly stable while incomes have risen, and forecasts point to an increase in households alongside slightly smaller household sizes. This combination typically expands the renter pool and supports occupancy stability for professionally managed communities. Local amenity density within the immediate neighborhood core is limited, so residents are likely to draw on nearby corridors for daily needs; from an investor perspective, this places emphasis on on-site features and convenience.
Safety metrics for the neighborhood are below the national median, placing the area outside top-quartile comparables nationwide. Within the San Diego metro, it aligns more with middle-tier safety profiles than top performers. Investors should underwrite with prudent assumptions for security, lighting, and access control to support resident satisfaction and retention.
Year-over-year estimates indicate a modest increase in violent offenses and a more pronounced uptick in property offenses at the neighborhood level. While these figures remain one factor among many, ongoing monitoring and standard multifamily risk-mitigation practices are advisable.
The employment base features nearby biopharma, energy, and technology offices that broaden the renter pool and support commute convenience for residents. Notable employers include Gilead Sciences, NRG Energy, Qualcomm, Celgene, and Sysco.
- Gilead Sciences — biopharma offices (1.7 miles)
- NRG Energy — energy (6.6 miles)
- Qualcomm — semiconductors & wireless (23.5 miles) — HQ
- Celgene Corporation — biopharma offices (24.0 miles)
- Sysco — foodservice distribution (25.0 miles)
304 Rancho Del Oro Dr is a 66-unit community built in 1986 with larger-than-typical unit sizes for workforce renters. The neighborhood shows solid occupancy and a balanced share of renter-occupied housing units, while elevated home values point to sustained reliance on multifamily. Based on CRE market data from WDSuite, neighborhood rents and incomes are above national medians, supporting steady absorption and lease retention for well-managed assets.
The 1986 vintage presents actionable value-add potential through interior refreshes and common-area improvements to compete effectively with late-1980s peers. Within a 3-mile radius, population has held steady and forecasts show rising household counts alongside higher incomes, which typically expands the tenant base even if population growth is modest—supporting occupancy stability and measured rent growth over the holding period.
- Stabilized neighborhood occupancy and balanced renter concentration support consistent leasing
- 1986 vintage offers clear value-add levers to enhance revenue and competitiveness
- Elevated neighborhood home values reinforce renter reliance on multifamily housing and retention
- Risk: safety metrics track below national median; plan for standard security and access-control investments
- Risk: limited immediate amenity density places more weight on on-site offerings and management