| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 71st | Good |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3902 Mesa Dr, Oceanside, CA, 92056, US |
| Region / Metro | Oceanside |
| Year of Construction | 1989 |
| Units | 96 |
| Transaction Date | --- |
| Transaction Price | $19,000,000 |
| Buyer | OWNERSHIP NAME INFORMATION |
| Seller | --- |
3902 Mesa Dr Oceanside Multifamily Investment Opportunity
Positioned in a competitive suburban pocket of North County San Diego, the asset benefits from steady renter demand and an occupancy backdrop that trends above national midpoints, according to WDSuite’s CRE market data.
The property sits within a suburban neighborhood that ranks 95 out of 621 across the San Diego–Chula Vista–Carlsbad metro, indicating performance that is competitive among San Diego–Chula Vista–Carlsbad, CA neighborhoods. Neighborhood ratings and income fundamentals are supportive of multifamily operations, with NOI per unit metrics and achieved rents benchmarking well versus national peers, based on CRE market data from WDSuite.
Local livability indicators are favorable for renters: restaurants and cafes track in the upper national percentiles (around the mid-to-high 70s), and park access trends near the 80th percentile nationwide. Average school ratings sit near the 75th percentile nationally, offering a family-friendly draw. One practical consideration is limited pharmacy density relative to other neighborhoods, which may modestly affect daily convenience.
Tenure dynamics suggest a balanced renter base. Within the neighborhood, the share of housing units that are renter-occupied is roughly one-third, which can support stable demand while still facing some competition from ownership options. At the 3-mile radius, renter-occupied units account for 44.1% of housing, expanding the tenant pool for larger assets and supporting leasing continuity.
Demographic trends within a 3-mile radius point to population growth in recent years and a projected increase in households, which can translate into a larger tenant base and support occupancy stability. Elevated home values relative to national norms reinforce reliance on multifamily rentals for many households, while rent-to-income levels in this area suggest manageable affordability pressure that can aid lease retention.
Vintage considerations matter for competitive positioning: the asset’s 1989 construction is older than the area’s newer-average building stock (with many deliveries post-2010), signaling potential value-add and capital planning opportunities to meet current renter preferences and sustain pricing power against younger inventory.
Safety indicators for the neighborhood track below national averages, with both violent and property offense rates positioned in lower national percentiles. However, year-over-year trends show improvement, including a notable decline in property offenses and a modest reduction in violent incidents, according to WDSuite’s data.
Within the San Diego–Chula Vista–Carlsbad metro (621 neighborhoods), the area’s crime profile remains a consideration for underwriting. Comparative improvement is encouraging, but prudent measures—such as lighting, access control, and resident engagement—can help support resident experience and retention.
Nearby employers span biotech, energy, and logistics/technology, supporting a diversified renter base and commute convenience for workforce housing tied to Gilead Sciences, NRG Energy, Qualcomm (HQ), Celgene, and Sysco.
- Gilead Sciences — biotech (1.3 miles)
- NRG Energy — energy (6.2 miles)
- Qualcomm — semiconductors & technology (23.0 miles) — HQ
- Celgene Corporation — biotech (23.6 miles)
- Sysco — foodservice distribution (24.5 miles)
3902 Mesa Dr is a 96-unit, 1989-vintage asset in a suburban Oceanside location where neighborhood-level rents and NOI benchmarks compare favorably to national peers, and occupancy trends sit above national midpoints. Elevated ownership costs in the area sustain reliance on multifamily housing, while rent-to-income levels indicate manageable affordability pressure that can support retention and reduce turnover risk.
Demand drivers extend beyond the immediate block: within a 3-mile radius, recent population growth and a projected increase in households suggest a larger renter pool ahead, aiding leasing stability. Given the asset’s older vintage relative to newer local inventory, a targeted value-add program and capital planning could enhance competitiveness against post-2010 product, according to CRE market data from WDSuite.
- Competitive suburban location with occupancy trends above national midpoints
- Elevated local home values reinforce rental demand and pricing resilience
- 3-mile radius shows recent growth and projected household gains supporting tenant base
- 1989 vintage presents value-add and CapEx opportunities versus newer area stock
- Risk: safety indicators below national averages; active property management and security planning recommended