| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 25th | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 567 Canyon Dr, Oceanside, CA, 92054, US |
| Region / Metro | Oceanside |
| Year of Construction | 1976 |
| Units | 70 |
| Transaction Date | --- |
| Transaction Price | $6,126,000 |
| Buyer | OWNERSHIP NAME INFORMATION |
| Seller | --- |
567 Canyon Dr, Oceanside CA — 70-Unit Value-Add Multifamily
Neighborhood multifamily occupancy trends sit in the mid-90s, supporting stable leasing fundamentals according to WDSuite s CRE market data. With Oceanside s high-cost ownership market, the asset s renter demand profile is supported by a broad tenant base.
Positioned in Oceanside s Urban Core within the San Diego metro, the property benefits from neighborhood-level occupancy that is above the national median, indicating demand depth for stabilized multifamily. Neighborhood NOI per unit ranks in the top decile nationally, suggesting revenue strength relative to typical operating expenses in comparable submarkets, based on CRE market data from WDSuite.
Livability is underpinned by everyday amenities: grocery and pharmacy access track well above national medians, and restaurant density is a local strength. Park access and caf e9 density are more limited, which may modestly lessen lifestyle appeal versus premier coastal corridors, but core convenience remains intact for a workforce renter profile.
The building s 1976 vintage is older than the area s average 1980s stock, which points to planning opportunities for value-add upgrades and systems modernization to reinforce competitive positioning against newer inventory. Such work can target interior finishes and efficiency improvements to support rentability while managing capital exposure.
Within a 3-mile radius, a majority of housing units are renter-occupied, indicating a sizable tenant base for multifamily operators. Recent years show softer population trends, but forecasts indicate population growth and a notable increase in household counts alongside smaller average household sizes factors that typically expand the renter pool and can support occupancy stability and leasing velocity.
Ownership costs in the neighborhood are elevated relative to incomes, with home values in the upper national percentiles. This high-cost ownership market generally sustains reliance on rental housing and can support pricing power, though active lease management remains important to balance affordability pressure and retention.
Safety indicators for the neighborhood are mixed. Compared with neighborhoods nationwide, the area sits below the national safety median, while within the San Diego metro it trends around the middle of the pack among 621 neighborhoods. Recent data show property crime easing year over year, while violent incidents have shown some variability, according to WDSuite s CRE market data.
For investors, this suggests standard risk management considerations: on-site lighting, access control, and coordination with local community policing can help support resident retention and asset performance. Monitor trends rather than single-year readings, as neighborhood crime can shift with broader regional dynamics.
Proximity to a diversified employment base supports renter demand and commute convenience, led by biotech, energy, technology, and distribution employers. The following nearby employers anchor the area s workforce draw and can aid leasing stability:
- Gilead Sciences biotechnology (3.6 miles)
- NRG Energy power & energy (5.5 miles)
- Qualcomm wireless technology (22.8 miles) HQ
- Celgene Corporation biotechnology (23.2 miles)
- Sysco foodservice distribution (25.2 miles)
567 Canyon Dr offers scale at 70 units with a 1976 vintage that lends itself to a clear value-add program. Neighborhood occupancy trends are healthy and above national medians, while elevated ownership costs reinforce reliance on rental housing. According to CRE market data from WDSuite, the neighborhood sits in a strong national tier for NOI per unit, underscoring revenue potential relative to typical expenses.
Within a 3-mile radius, the majority renter-occupied housing mix and a projected increase in households point to a larger tenant base over time. Operators should balance pricing power with retention, as rent-to-income levels indicate some affordability pressure. Amenities favor daily needs (grocery, pharmacy, restaurants), supporting day-to-day livability for a workforce renter profile.
- Scale and value-add: 70 units with 1976 vintage enabling targeted renovations and systems updates
- Demand depth: neighborhood occupancy above national medians and strong NOI-per-unit positioning
- Renter base: majority renter-occupied housing and forecast household growth within 3 miles support leasing
- Location fundamentals: strong access to daily needs and proximity to major employers underpin tenant retention
- Risks: below-national safety medians and affordability pressure require active asset and lease management