| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 61st | Fair |
| Amenities | 55th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1551 Montecito Rd, Ramona, CA, 92065, US |
| Region / Metro | Ramona |
| Year of Construction | 1984 |
| Units | 40 |
| Transaction Date | 2015-06-18 |
| Transaction Price | $5,950,000 |
| Buyer | JC STRATEGIC LP |
| Seller | RAMONA MOUNTAIN VALLEY APARTMENTS LP |
1551 Montecito Rd, Ramona CA — Suburban Multifamily Opportunity
Neighborhood-level occupancy in Ramona has been strong and resilient, supporting stable renter demand relative to the San Diego metro, according to WDSuite’s CRE market data.
The property sits in a Suburban neighborhood in the San Diego–Chula Vista–Carlsbad metro that carries a B+ neighborhood rating and ranks 195 out of 621 metro neighborhoods, placing it above the metro median. For investors, this positioning signals balanced fundamentals with less volatility than lower-ranked pockets in the region.
Local daily-needs access is a relative strength: grocery and restaurant densities track in the top quartile nationally, while pharmacies and cafes are also above average. By contrast, park and childcare density are limited at the neighborhood level, which may factor into resident lifestyle preferences and marketing strategy. Average school ratings trend above national norms (top quartile nationally), supporting appeal to family renters.
Multifamily performance indicators are notably solid. Neighborhood occupancy is in the top quartile nationally and ranks 79 of 621 within the metro, indicating competitive leasing conditions that can support rent collections and retention. The neighborhood’s renter-occupied share is meaningful, providing a defined tenant base; for investors, that depth can help stabilize absorption during turns. Median contract rents in the neighborhood have risen over the past five years and sit above national norms, while the rent-to-income profile suggests manageable affordability pressure compared with many coastal submarkets—favorable for lease management.
Within a 3-mile radius, demographics show households have grown despite prior population softness, implying smaller household sizes and a steady renter pool. Forward-looking projections point to additional household growth, which would expand the local tenant base and support occupancy. Median home values here are elevated (top decile nationally), which tends to reinforce reliance on rental housing and can underpin pricing power for well-maintained assets.
The asset’s 1982 construction is older than the neighborhood’s average vintage (1992). That age gap often creates a pragmatic value-add path—modernization of interiors, common areas, and building systems can improve competitive positioning against newer stock.
Safety trends should be considered in underwriting. Relative to neighborhoods nationwide, this area scores in lower national percentiles for safety, indicating higher reported crime rates than many U.S. neighborhoods. Within the San Diego metro, the neighborhood’s crime rank sits below the metro median (ranked 440 out of 621), so investors may want to budget for visibility, lighting, and access controls, and to align marketing with resident expectations.
Recent year-over-year readings indicate a modest uptick in both property and violent offense rates at the neighborhood level. While conditions can vary block to block, comparative framing is most useful: this location is not among the metro’s top-performing cohorts on safety, so proactive management and partnership with local resources can help support resident satisfaction and retention.
Proximity to diversified employers across food distribution, wireless technology, defense, life sciences, and utilities supports a broad workforce renter base and manageable commute times for residents.
- Sysco — food distribution (12.4 miles)
- Qualcomm — telecommunications & wireless (20.9 miles) — HQ
- L-3 Telemetry & RF Products — defense & aerospace (21.2 miles)
- Celgene Corporation — biopharma (22.2 miles)
- Sempra Energy — utilities (27.6 miles) — HQ
This 40-unit asset at 1551 Montecito Rd operates within a San Diego metro neighborhood that is above the metro median with strong occupancy and a defined renter base. Elevated neighborhood home values and above-average school ratings support steady family and workforce renter interest, while rent-to-income dynamics indicate relatively manageable affordability pressure—favorable for retention and lease management. Based on CRE market data from WDSuite, neighborhood occupancy trends are competitive versus the metro and top quartile nationally, reinforcing the case for durable demand.
Built in 1982, the property is older than the neighborhood’s average vintage, suggesting practical value-add levers through unit and systems upgrades to enhance competitiveness against newer stock. Within a 3-mile radius, household growth alongside smaller household sizes points to a larger renter pool over time, and proximity to diverse employers broadens the demand base. Key risks include safety metrics that trail metro leaders and the need for capital planning consistent with an early-1980s build.
- High neighborhood occupancy and above-median metro rank support leasing stability
- Elevated home values reinforce reliance on rental housing and pricing power
- 1982 vintage provides clear value-add and capital improvement pathways
- Diverse employment nodes within commuting range sustain workforce demand
- Risks: below-median metro safety ranking and capex needs for an older asset