| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 61st | Fair |
| Amenities | 55th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1515 Montecito Rd, Ramona, CA, 92065, US |
| Region / Metro | Ramona |
| Year of Construction | 1980 |
| Units | 40 |
| Transaction Date | 2002-07-31 |
| Transaction Price | $2,100,000 |
| Buyer | HENRY SHEILA |
| Seller | DAISY HILL APARTMENT PARTNERSHIP |
1515 Montecito Rd, Ramona CA Multifamily Investment
Renter demand appears durable given a high-occupancy neighborhood and a homeownership market with elevated values, according to WDSuite’s CRE market data. Positioning focuses on steady lease-up and retention rather than outsized rent growth.
The property sits in a suburban pocket of the San Diego–Chula Vista–Carlsbad metro rated B+ at the neighborhood level, with occupancy trending strong and competitive among 621 metro neighborhoods. Neighborhood occupancy is in the top quartile nationally, supporting stable collections and limited downtime between turns for well-managed assets.
Day-to-day convenience is a relative strength: grocery and restaurant density track above national averages, while parks and formal childcare options are thinner locally. Average school ratings are above national norms, which can aid family retention. Overall amenity access ranks competitive among San Diego metro neighborhoods (195 of 621), signaling a livable setting that supports renter stickiness rather than destination-driven premiums.
Tenure patterns indicate the share of housing units that are renter-occupied is above the metro median, pointing to a sufficient base of multifamily renters to support absorption and renewals. Median contract rents in the neighborhood trend above national levels, but rent-to-income metrics suggest room to manage affordability pressure with thoughtful lease management.
Demographic statistics aggregated within a 3-mile radius show households have increased even as population modestly pulled back, implying smaller household sizes and a broader set of renter households over time. Forward-looking projections indicate growth in both population and households through 2028, which supports a larger tenant base and ongoing demand for rental units.
Construction vintage skews newer in the broader neighborhood than this asset (local average early 1990s versus the property’s 1980 delivery). For investors, the older vintage can translate to targeted value-add through interior updates and systems modernization, improving competitive positioning against newer stock.
Home values in the neighborhood rank high nationally, reflecting a high-cost ownership market within the San Diego region. In practice, that backdrop tends to reinforce renter reliance on multifamily housing, supporting pricing power for well-maintained, appropriately positioned units.
Safety metrics for the neighborhood track below national averages, with rankings placing it below the metro median among 621 San Diego–area neighborhoods. Recent year-over-year readings show a modest uptick in both violent and property offenses. Investors typically account for this by emphasizing on-site lighting, access control, and resident engagement to support perception and retention, while underwriting to conservative stabilization timelines.
Proximity to food distribution, wireless technology, aerospace/defense, biopharma, and energy headquarters provides a diversified employment base that supports renter demand and commute convenience for a workforce-oriented tenant profile.
- Sysco — food distribution (12.4 miles)
- Qualcomm — wireless & semiconductors (21.0 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace offices (21.2 miles)
- Celgene Corporation — biopharma (22.2 miles)
- Sempra Energy — energy & utilities (27.6 miles) — HQ
1515 Montecito Rd offers exposure to a high-occupancy suburban neighborhood where renter demand is supported by strong local livability, a diversified employment base, and a high-cost ownership market that sustains reliance on multifamily housing. Based on CRE market data from WDSuite, the neighborhood’s occupancy performance sits in the top quartile nationally, pointing to steady collections and reduced downtime for competitive units.
Built in 1980, the asset is older than the neighborhood’s average stock, creating a clear value-add and capital planning angle through interior refreshes and selective systems upgrades to improve positioning against newer properties. Demographic data within a 3-mile radius indicate growing household counts and projected population and income gains by 2028, supporting a larger tenant base and reinforcing leasing stability over the medium term. Key considerations include safety metrics that trail national averages and thinner park/childcare access, both of which can be mitigated with property-level enhancements and resident programming.
- High neighborhood occupancy supports collections stability and limited downtime
- Older 1980 vintage enables targeted value-add and modernization upside
- 3-mile demographics point to more households and income growth, expanding the renter base
- High-cost ownership context reinforces multifamily demand and pricing power
- Risks: below-average safety metrics and limited parks/childcare; address via operations and amenity strategy