| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 40th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3964 Waring Rd, Oceanside, CA, 92056, US |
| Region / Metro | Oceanside |
| Year of Construction | 1980 |
| Units | 62 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3964 Waring Rd Oceanside Multifamily Investment Thesis
Neighborhood occupancy is tight and renter demand appears durable, according to WDSuite’s CRE market data, suggesting stable income potential for a 62-unit asset near daily needs and employment. Focus should be on operational execution and retention rather than lease-up risk.
The property sits in an Urban Core neighborhood of Oceanside rated A and positioned competitively among 621 San Diego metro neighborhoods. Local livability is a strength: grocery and pharmacy access rank in the top quartile among metro neighborhoods and in the highest national percentiles, which supports everyday convenience for residents and helps reduce turnover risk.
Renter-occupied housing accounts for a high share of neighborhood units (top-quartile renter concentration among 621 metro neighborhoods), indicating a deep tenant base and consistent multifamily demand. Neighborhood occupancy is also in the top quartile metro-wide, a backdrop that typically supports rent collections and minimizes prolonged vacancy in comparable assets.
Amenities are robust: grocery density ranks competitively among 621 metro neighborhoods and is near the 100th national percentile; cafes, parks, and childcare are also high relative to national benchmarks. Average school ratings are solid (around 4 out of 5), providing a family-friendly draw that can stabilize longer tenancies.
Within a 3‑mile radius, WDSuite’s multifamily property research indicates steady population growth alongside a rising household count, pointing to a larger renter pool over the next few years. Median rents in the broader radius have trended higher, while elevated ownership costs in the neighborhood (high national percentile for home values and value‑to‑income ratio) tend to reinforce reliance on multifamily housing and support pricing power, balanced with prudent lease management.
Safety metrics are mixed. The neighborhood ranks competitively among 621 San Diego metro neighborhoods, yet compares below the national median on several indicators. According to WDSuite, violent and property offense rates sit in lower national percentiles, but recent year-over-year declines suggest improving trends. Investors should underwrite with conservative loss assumptions while recognizing the trajectory.
Nearby employers span biopharma, energy, technology, and distribution, supporting a diverse workforce and commute convenience that can bolster leasing and retention for workforce-oriented units. The list below highlights key drivers of demand within practical commuting distance: Gilead Sciences, NRG Energy, Qualcomm, Celgene, and Sysco.
- Gilead Sciences — biopharma (1.4 miles)
- NRG Energy — energy services (4.6 miles)
- Qualcomm — semiconductors & telecom (20.8 miles) — HQ
- Celgene Corporation — biopharma (21.4 miles)
- Sysco — food distribution (22.0 miles)
3964 Waring Rd benefits from strong neighborhood fundamentals: renter-occupied housing is high relative to other San Diego neighborhoods, occupancy is in the metro’s top quartile, and daily-needs amenities are abundant. Elevated home values and a high value-to-income ratio in the neighborhood reinforce renter reliance on multifamily housing, which can support rent growth and lease stability when paired with disciplined renewal strategies. According to CRE market data from WDSuite, the surrounding 3‑mile area shows population growth and an increase in households, expanding the tenant base and supporting ongoing demand.
Investors should balance pricing power with affordability stewardship. Neighborhood rent-to-income levels indicate some pressure in parts of the renter pool, and safety metrics trail national medians despite recent improvements. Underwriting that prioritizes retention, unit-turn efficiency, and targeted renovations can position the asset to capture durable cash flow in line with broader San Diego multifamily trends.
- Top-quartile neighborhood occupancy and strong renter concentration support income stability
- High-cost ownership market sustains demand for rental housing and pricing power
- 3‑mile radius shows population and household growth, expanding the renter pool
- Dense retail, schools, and services support resident convenience and retention
- Risks: below-national-median safety metrics and affordability pressure require careful lease management