| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 61st | Fair |
| Amenities | 55th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1528 Montecito Rd, Ramona, CA, 92065, US |
| Region / Metro | Ramona |
| Year of Construction | 1979 |
| Units | 20 |
| Transaction Date | 2016-03-03 |
| Transaction Price | $2,640,000 |
| Buyer | ADATO FAMILY PROPERTIES II LLC |
| Seller | SHADOW GLEN ANNEX LP |
1528 Montecito Rd, Ramona CA Multifamily Investment
Neighborhood occupancy remains tight and renter demand is supported by a high-cost ownership market, according to WDSuite’s CRE market data. This positioning suggests durable leasing conditions for a 20-unit asset in suburban Ramona.
Ramona sits in the San Diego–Chula Vista–Carlsbad metro with a B+ neighborhood rating and suburban character. The area’s occupancy is competitive among metro neighborhoods (79 of 621) and in the top quartile nationally, indicating stable renter demand at the neighborhood level rather than the property specifically.
Daily needs are well-covered: neighborhood counts for restaurants and groceries track in the upper national percentiles, while cafés are also above average. Parks and licensed childcare options are limited locally, which may influence tenant mix toward working adults and older households. Average school ratings trend above many U.S. neighborhoods, which can aid retention for family renters.
Home values in the neighborhood rank high nationally, reflecting a high-cost ownership market that tends to sustain reliance on multifamily rentals and can support pricing power with measured lease management. The median rent level trends above U.S. norms, yet neighborhood rent-to-income sits below national medians, moderating affordability pressure for many tenants and supporting renewal potential.
Within a 3-mile radius, demographics show a modest population dip in recent years alongside growth in household counts, signaling smaller household sizes and a broader tenant base. Looking forward, projections call for population growth and a meaningful increase in households by 2028, implying a larger renter pool and support for occupancy stability. Renter concentration at the neighborhood level is moderate, and within the 3-mile radius roughly two-fifths of housing units are renter-occupied, indicating adequate depth for a 20-unit asset.
Vintage and positioning: Built in 1979, the property is older than the neighborhood’s average construction year. Investors should plan for targeted capital improvements and potential value-add renovations to enhance competitiveness versus newer product while capturing demand supported by local amenities and high ownership costs.
Safety indicators for the neighborhood track below national norms, with ranks in the lower half among 621 metro neighborhoods and national percentiles suggesting elevated crime compared with many U.S. areas. Recent year data also points to a noticeable uptick in property-related incidents. These measures are neighborhood-level, not property-specific.
For underwriting, investors often account for security features, lighting, and resident engagement, and monitor trend direction versus the broader San Diego metro. If crime continues to trend down relative to the region, leasing stability can improve; if it remains elevated, stronger on-site management and screening may be warranted.
Major employers within commuting distance support a stable renter base, particularly across food distribution, wireless technology, aerospace/defense, biopharma, and energy. The employers below reflect realistic commute sheds for workforce and professional tenants.
- Sysco — food distribution (12.3 miles)
- Qualcomm — wireless technology (20.9 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace offices (21.1 miles)
- Celgene Corporation — biopharma (22.1 miles)
- Sempra Energy — utilities & energy infrastructure (27.6 miles) — HQ
1528 Montecito Rd offers a 20-unit footprint in a suburban San Diego County neighborhood where occupancy performance is competitive among metro peers and strong nationally, based on CRE market data from WDSuite. Elevated ownership costs locally tend to reinforce rental demand, and household growth within a 3-mile radius points to a larger tenant base that can support retention and steady leasing.
Constructed in 1979, the asset may benefit from targeted value-add and capital planning to stand out against newer stock. Amenity access is solid for daily needs, though limited parks and childcare nearby suggest marketing to workforce and adult households. Safety trends run below national averages at the neighborhood level, so diligence around operations and resident experience will be important.
- Tight neighborhood occupancy and competitive metro ranking support leasing stability
- High-cost ownership market underpins multifamily demand and pricing power
- 1979 vintage offers clear value-add and modernization upside
- 3-mile household growth outlook expands the renter pool, aiding renewals
- Risk: neighborhood safety metrics lag national norms, requiring proactive management