| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 57th | Fair |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3859 Sherbourne Dr, Oceanside, CA, 92056, US |
| Region / Metro | Oceanside |
| Year of Construction | 1975 |
| Units | 72 |
| Transaction Date | 2019-08-22 |
| Transaction Price | $66,250,000 |
| Buyer | RTH SUNTERRA LLC |
| Seller | OCEANSIDE OWNER LLC |
3859 Sherbourne Dr Oceanside Multifamily Investment
Neighborhood occupancy has remained tight, supporting leasing stability and rent collections, according to WDSuite’s CRE market data. This Oceanside inner-suburban location offers depth of renter demand relative to the metro, with room for value-add strategy at the asset level.
Located in the San Diego–Chula Vista–Carlsbad metro, the surrounding neighborhood is rated B and sits at rank 235 out of 621 metro neighborhoods. Occupancy in the neighborhood is strong (rank 122 of 621), placing it in the top quartile among San Diego metro neighborhoods and in the upper tier nationally, a positive backdrop for minimizing downtime between turns.
Daily-needs access is a relative strength: grocery presence and parks index high versus national peers (both above the 85th percentile), and restaurants are plentiful (around the 91st percentile). Cafes and pharmacies are less dense locally, which may modestly limit walkable convenience for some residents. School ratings average about mid-pack nationally, suggesting competitive—but not top-tier—education options.
Tenure patterns indicate a solid renter base: the share of housing units that are renter-occupied ranks in the upper national percentiles, implying depth of tenant demand and potential for steady leasing. Neighborhood home values sit in the low 90th percentile nationally, signaling a high-cost ownership market that can reinforce reliance on multifamily rentals and support pricing power, while the rent-to-income ratio trends lower than many U.S. neighborhoods—helpful for lease retention and collections management.
Within a 3-mile radius, demographics point to a growing renter pool: population and households have increased over the past five years, with additional household growth forecast alongside smaller average household sizes. Rising median and mean incomes in this radius expand the qualified tenant base and support rent levels, which have also trended upward. Together, these dynamics align with sustained demand and occupancy stability for well-managed assets.
Safety trends are mixed in context. The neighborhood’s crime rank is 87 out of 621 metro neighborhoods, indicating it performs below the metro median on this measure, while its national safety positioning is roughly middle-of-the-pack. Property offense rates have shown notable year-over-year improvement (stronger than most neighborhoods nationwide), which is a constructive trend to monitor for long-term stability.
Investors should evaluate property-level security, lighting, and resident experience as part of operational planning, and compare recent incident trends to nearby submarkets to gauge relative risk and mitigation needs.
Proximity to diversified employers supports renter demand and commute convenience, including biotech, energy, telecom, and food distribution offices noted below.
- Gilead Sciences — biotech (0.76 miles)
- Nrg Energy — energy services (5.04 miles)
- Qualcomm — telecom & wireless (21.42 miles) — HQ
- Celgene Corporation — biotech (22.02 miles)
- Sysco — food distribution (22.75 miles)
3859 Sherbourne Dr is a 72-unit asset in an inner-suburban Oceanside neighborhood where occupancy runs in the top quartile among San Diego metro neighborhoods, supporting stable tenancy and reduced downtime risk. Median home values are elevated relative to national norms, reinforcing renter reliance on multifamily housing and enabling measured pricing power when paired with a comparatively modest rent-to-income profile. Based on CRE market data from WDSuite, neighborhood NOI per unit sits in a higher national band, consistent with solid operating fundamentals for well-run properties.
Built in 1975—older than the neighborhood’s average vintage—this property presents classic value-add potential through interior upgrades, system modernization, and amenity refreshes to compete against newer stock. Within a 3-mile radius, rising incomes and expanding household counts point to a larger tenant base over time, which can support occupancy stability and rent growth for renovated units.
- Tight neighborhood occupancy supports leasing stability and limits downtime.
- High-cost ownership market reinforces multifamily demand and pricing power.
- 1975 vintage offers clear value-add and system upgrade opportunities versus newer stock.
- 3-mile income growth and household expansion expand the qualified renter pool.
- Risks: older asset capital planning, mixed local safety metrics, and uneven amenity depth (cafe/pharmacy) warrant proactive operations.