| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 35th | Poor |
| Amenities | 87th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 521 Olympic Way, Oceanside, CA, 92058, US |
| Region / Metro | Oceanside |
| Year of Construction | 1993 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | $2,400,000 |
| Buyer | RIVERVIEW SPRINGS LTD |
| Seller | --- |
521 Olympic Way Oceanside Multifamily Investment
Neighborhood renter demand is supported by a high renter-occupied share and strong amenity access, according to WDSuite’s CRE market data. Investors should view this as steady leasing potential in Oceanside, with pricing power tempered by local rent-to-income dynamics.
The property sits in an Urban Core neighborhood in Oceanside that ranks 163 out of 621 metro neighborhoods (B+), placing it competitive among San Diego-Chula Vista-Carlsbad neighborhoods. Amenity access is a relative strength: grocery, restaurant, and pharmacy density each land in the top quartile nationally, which helps drive daily convenience and supports renter retention.
Neighborhood occupancy is measured for the neighborhood at 93% (above the national median by percentile), and renter-occupied units account for 48.9% of housing, a concentration that sits in the upper national percentiles. For investors, that mix points to a deep tenant base and durable multifamily demand, though lease management should consider a rent-to-income ratio reported for the neighborhood that signals some affordability pressure.
The average construction year in the neighborhood is 1987, while this asset’s 1993 vintage is newer than the local average. That positioning can aid competitiveness versus older stock; however, investors should still plan for selective system updates and modernization to maintain standing against renovated comparables.
Within a 3-mile radius, demographic statistics show relatively stable population counts in recent years with a projected population dip alongside a notable increase in households, indicating smaller household sizes ahead. This pattern can expand the renter pool and support occupancy stability, particularly for well-managed 1–2 bedroom product. Median incomes in the 3-mile radius have grown, and neighborhood home values are elevated relative to incomes (high-cost ownership market), which tends to reinforce reliance on rental housing rather than ownership, supporting pricing power for professionally managed communities.
Two caution flags to underwrite: the neighborhood’s average school rating sits below national norms, which may matter for family-oriented leasing, and COVID resilience metrics rank below many metro peers. Even so, NOI per unit is competitive among metro neighborhoods by percentile, suggesting operators have historically maintained solid margins where demand is strong.
Safety indicators for the neighborhood trend below national averages by percentile, with violent and property offense rates comparing weaker than many U.S. neighborhoods. Among 621 metro neighborhoods, ranks place this area below the metro median on several safety measures. For investors, this warrants routine security and lighting upgrades, active property management, and partnership with local community programs to support resident comfort and retention.
Recent year-over-year changes show mixed movement in estimated offense rates. While percent changes are not extreme by national comparison, underwriting should include ongoing monitoring and standard risk mitigations (access control, visibility, and staffed response protocols) rather than assuming improvement or deterioration.
Proximity to major employers supports a broad commuter tenant base, with biotechnology, energy, and technology anchors within a feasible drive that can aid leasing stability for workforce renters. The list below reflects nearby corporate offices most relevant to daily commute patterns.
- Gilead Sciences — biotechnology (2.9 miles)
- Nrg Energy — energy (8.1 miles)
- Qualcomm — semiconductors & telecom (25.0 miles) — HQ
- Celgene Corporation — biotechnology (25.5 miles)
- Sempra Energy — utilities (37.3 miles) — HQ
521 Olympic Way offers scale at 120 units with a 1993 vintage that is slightly newer than the neighborhood average, positioning it well against older local stock while leaving room for targeted renovations and systems modernization. Neighborhood fundamentals show strong amenity density and a high renter-occupied share, supporting demand. According to CRE market data from WDSuite, neighborhood occupancy is solid by national percentile and NOI per unit trends competitive within the metro, indicating the area has supported stable operations for well-run assets.
Investor underwriting should balance supportive drivers—commuter access to diversified employers, elevated ownership costs that sustain rental demand, and household growth within a 3-mile radius—against risks such as below-average safety metrics and weaker school ratings. Forward-looking demographics indicate more, smaller households, which can bolster absorption for well-configured units while emphasizing the importance of affordability management to maintain retention.
- 1993 vintage offers competitive positioning versus older neighborhood stock with value-add potential through selective upgrades
- High renter-occupied share and solid neighborhood occupancy support steady tenant demand and leasing stability
- Elevated home values relative to incomes in the area reinforce reliance on rental housing and pricing power
- Diverse employer base within commuting distance underpins workforce renter pool and retention
- Risks: below-average safety and school ratings require active management and prudent underwriting of concessions and security