| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 49th | Fair |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3634 College Blvd, Oceanside, CA, 92056, US |
| Region / Metro | Oceanside |
| Year of Construction | 1988 |
| Units | 114 |
| Transaction Date | 2016-03-09 |
| Transaction Price | $26,500,000 |
| Buyer | Milano Apartment Homes LP |
| Seller | VPM Village View LP |
3634 College Blvd Oceanside Multifamily Investment
This 114-unit property benefits from strong neighborhood occupancy at 93.9% and median rents of $2,195, supported by limited rental supply growth according to CRE market data from WDSuite.
This Oceanside neighborhood demonstrates solid fundamentals for multifamily investment, with occupancy at 93.9% and median contract rents of $2,195. The area ranks in the top quartile nationally for net operating income per unit at $10,948, reflecting healthy rental demand dynamics. Demographics within a 3-mile radius show a median household income of $102,280, with 38.1% of housing units occupied by renters, providing a stable tenant base.
The property's 1988 construction year aligns closely with the neighborhood average of 1981, indicating consistent building stock that may present value-add renovation opportunities for investors seeking to modernize units and capture rent premiums. Projected demographic trends through 2028 show household growth of 31% and median rent increases to $3,220, suggesting continued rental demand expansion.
Amenity density supports tenant retention with 7.13 grocery stores per square mile ranking in the 98th percentile nationally, and restaurant density at 19.60 per square mile in the 96th percentile. However, investors should note limited park access and cafe density, which may impact tenant appeal compared to more amenity-rich submarkets. The area's Inner Suburb classification and B- neighborhood rating reflect competitive positioning within the San Diego metro's 621 neighborhoods.
Property crime rates in this neighborhood rank 456th among 621 San Diego metro neighborhoods, placing it in the lower half for safety metrics with an estimated rate of 2,296 incidents per 100,000 residents. However, both property and violent crime trends show improvement, with property crime declining 6.2% and violent crime down 6.3% over the past year, indicating positive momentum in public safety conditions.
The violent crime rate of 322 incidents per 100,000 residents ranks 388th metro-wide, corresponding to the 14th percentile nationally. While these metrics suggest heightened security considerations for property management, the declining crime trends and the neighborhood's Inner Suburb classification may support gradual improvement in resident perception and retention rates.
The area benefits from proximity to major corporate employers, with biotechnology and technology firms providing workforce housing demand within commuting distance.
- Gilead Sciences — biotechnology (2.1 miles)
- Nrg Energy — energy services (3.8 miles)
- Qualcomm — technology (19.8 miles)
- Qualcomm — technology HQ (20.2 miles)
- Celgene Corporation — biotechnology (20.7 miles)
This 114-unit property offers stable cash flow potential with neighborhood occupancy at 93.9% and strong NOI per unit performance in the top quartile nationally. The 1988 construction vintage presents value-add opportunities through strategic renovations, while the area's 38.1% renter-occupied housing units and projected 31% household growth through 2028 support long-term rental demand. Commercial real estate analysis indicates the submarket benefits from limited new supply and proximity to major biotechnology employers.
Demographic trends show median household income growth of 34.4% over five years, reaching $102,280, which supports rent growth potential as projected rents increase to $3,220 by 2028. The neighborhood's Inner Suburb location provides access to employment centers while maintaining relative affordability compared to coastal San Diego markets. However, investors should monitor crime trends and assess capital expenditure requirements given the property's age.
- Strong occupancy fundamentals at 93.9% with top quartile NOI performance
- Value-add potential through renovations of 1988 vintage units
- Projected 31% household growth supporting rental demand expansion
- Proximity to biotechnology and technology employment centers
- Risk: Below-average safety metrics requiring enhanced security considerations