| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 61st | Fair |
| Amenities | 55th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1504 Montecito Rd, Ramona, CA, 92065, US |
| Region / Metro | Ramona |
| Year of Construction | 1986 |
| Units | 44 |
| Transaction Date | --- |
| Transaction Price | $1,902,500 |
| Buyer | WAGNER LAURENCE C DELORES G TRS |
| Seller | --- |
1504 Montecito Rd, Ramona CA — Multifamily Investment Thesis
Neighborhood fundamentals point to durable renter demand and strong occupancy at the area level, according to WDSuite’s CRE market data. High-cost ownership dynamics in San Diego County support lease retention potential for well-managed assets in Ramona.
Situated in suburban Ramona within the San Diego–Chula Vista–Carlsbad metro, the property benefits from neighborhood-level occupancy that is in the top quartile nationally, signaling stability for operators focused on resident retention and steady cash flow. Median home values in the neighborhood sit in a high-cost ownership market (93rd percentile nationally), which tends to reinforce renter reliance on multifamily housing and can sustain demand for quality units.
Amenities skew practical rather than urban-core dense: grocery and restaurant concentrations rank competitively among metro peers, while parks and childcare access are limited locally. Average school ratings are above national norms (73rd percentile), which can aid leasing to family households. This balance aligns with a suburban renter profile seeking convenience over nightlife, a nuance relevant to unit mix and amenity programming in commercial real estate analysis.
Vintage context matters: the asset’s 1986 construction is older than the neighborhood’s average 1992 stock, suggesting potential value‑add through targeted renovations and systems upgrades. Investors should plan for capital improvements that sharpen competitive positioning against newer product while leveraging existing occupancy depth in the neighborhood.
Tenure patterns are constructive for multifamily operators. At the neighborhood level, renter-occupied housing units comprise a meaningful share of stock, indicating depth in the tenant base. Within a 3‑mile radius, households have grown even as average household size has edged lower, pointing to a gradual renter pool expansion and support for occupancy stability.
Safety trends should be evaluated with care. The neighborhood’s crime profile sits below national safety percentiles, and ranks in the lower half among 621 San Diego metro neighborhoods. Property and violent offense estimates indicate comparatively higher incident rates versus national norms, so investors should underwrite security measures and operating practices that align with resident expectations for a suburban asset.
On a forward basis, monitoring neighborhood-level trend direction and comparing it with submarket peers can help calibrate marketing, lighting, access control, and community engagement initiatives without overbuilding operating expenses.
Proximity to a diversified employment base supports leasing, particularly workforce households commuting to regional corporate campuses. Notable nearby employers include Sysco, Qualcomm, L‑3 Telemetry & RF Products, Celgene, and NRG Energy.
- Sysco — foodservice distribution (12.3 miles)
- Qualcomm — telecommunications & semiconductors (20.9 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (21.1 miles)
- Celgene Corporation — biopharma (22.1 miles)
- NRG Energy — energy services (26.0 miles)
This 44‑unit, mid‑1980s asset in Ramona is positioned to capture neighborhood-level occupancy that ranks in the top quartile nationally, while competing in a high-cost ownership corridor that tends to sustain multifamily renter demand. Based on CRE market data from WDSuite, the surrounding neighborhood shows strong renter absorption characteristics alongside practical amenities and above‑average school ratings, favoring operators focused on retention.
The 1986 vintage provides a clear value‑add path: targeted interior refreshes and mechanical upgrades can lift competitive standing against younger stock without over-improving beyond suburban expectations. Nearby corporate employment nodes broaden the tenant base, while 3‑mile demographics indicate household growth and rising incomes over the outlook period, supporting leasing velocity and pricing power if managed with attention to affordability pressure.
- Neighborhood occupancy stands in the national top quartile, supporting income stability for well-run assets.
- High-cost ownership market reinforces renter reliance on multifamily housing, aiding retention and renewal rates.
- 1986 vintage offers a straightforward value‑add and systems modernization thesis to enhance competitiveness.
- Regional employers within commuting range underpin workforce demand and broaden the leasing funnel.
- Risk: safety metrics trail national averages; underwriting should account for security, lighting, and access control investments.