| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 65th | Good |
| Amenities | 38th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 610 Hidden Canyon Way, Oceanside, CA, 92054, US |
| Region / Metro | Oceanside |
| Year of Construction | 1981 |
| Units | 70 |
| Transaction Date | 2014-04-23 |
| Transaction Price | $6,645,000 |
| Buyer | Hidden Canyon Townhouses LLC |
| Seller | M.S. Browar Family Trust |
610 Hidden Canyon Way, Oceanside Multifamily Investment
Neighborhood occupancy is strong and above the metro median, supporting income stability for well-managed assets, according to WDSuite s CRE market data. Renter demand is reinforced by a high-cost ownership market in coastal North County, which typically sustains leasing velocity and retention.
Situated in Oceanside s inner-suburb fabric of the San Diego metro, the neighborhood scores a B and ranks 280 out of 621 metro neighborhoods competitive among San Diego-area options for multifamily investors. Occupancy is in the mid-90s and ranks 279 of 621 above the metro median which generally supports predictable cash flow for stabilized properties (neighborhood occupancy, not the subject asset).
Renter-occupied housing accounts for roughly the mid-50% share locally, indicating a deep tenant base and sustained demand for apartments (tenure is for the neighborhood, not the property). Median home values are elevated versus national norms, and the value-to-income ratio sits near the top of U.S. neighborhoods, which tends to reinforce reliance on rental housing and supports pricing power when units are positioned correctly.
Daily needs are adequately served: grocery access performs in the upper national percentiles, with restaurants around the national mid-to-upper range; childcare access is notably strong. Cafe, park, and pharmacy counts are thinner nearby, which puts a premium on in-property amenities or quick drives to adjacent nodes for lifestyle conveniences.
Demographic statistics within a 3-mile radius show modest population softness in recent years but a return to growth ahead, alongside a meaningful increase in households and a slight downshift in average household size. For multifamily, that combination points to a larger renter pool and diversification of household types, which can support occupancy stability and absorption for a range of unit mixes. The asset s 1981 vintage is slightly newer than the neighborhood average construction year, suggesting competitive positioning versus older stock, though investors should plan for selective system upgrades and modernization to meet current renter expectations.
Safety trends are mixed versus regional and national benchmarks. The neighborhood s crime ranking is 395 out of 621 San Diego metro neighborhoods, which is below the metro median. Nationally, the area sits in the lower percentiles for safety compared to neighborhoods across the country, indicating investors should underwrite prudent security measures and operational oversight.
Recent year-over-year estimates indicate upticks in both property and violent offenses locally. While these figures can fluctuate with reporting and small-area dynamics, a conservative approach to lighting, access control, and partnership with local community resources is advisable in the operating plan.
Proximity to life sciences, energy, technology, and distribution employers supports a diverse renter base and commute convenience for workforce and professional tenants. Nearby anchors include Gilead Sciences, NRG Energy, Qualcomm, Celgene, and Sysco.
- Gilead Sciences biotechnology offices (3.2 miles)
- Nrg Energy power & utilities offices (5.5 miles)
- Qualcomm semiconductors & wireless technology (22.7 miles) HQ
- Celgene Corporation biotechnology offices (23.2 miles)
- Sysco food distribution (25.0 miles)
This 70-unit asset combines neighborhood occupancy that ranks above the San Diego metro median with a renter-leaning housing base, supporting depth of demand and leasing durability. Elevated ownership costs in coastal North County further sustain multifamily reliance, while rents relative to incomes remain manageable enough to aid retention for appropriately positioned units. The 1981 vintage is slightly newer than the area s average and, paired with the property s generous average unit size, offers room to capture value through targeted modernization and amenity upgrades while staying competitive against older stock. Based on CRE market data from WDSuite, these dynamics align with stable operations and steady screening conditions rather than outsized volatility.
Within a 3-mile radius, forecasts point to renewed population growth and a notable increase in households alongside smaller average household sizes a setup that can expand the renter pool and support occupancy stability across unit types. Access to a diversified employer base in North County and the broader San Diego tech/life-science corridor adds to demand consistency and retention potential.
- Above-metro-median neighborhood occupancy supports stable in-place cash flow (neighborhood metric).
- Renter-occupied share in the mid-50% range indicates a deep local tenant base.
- High-cost ownership market reinforces sustained rental demand and pricing power.
- 1981 vintage with large average unit sizes supports value-add through selective upgrades.
- Risk: Safety ranks below metro median; plan for proactive security and operating controls.