| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 34th | Poor |
| Amenities | 54th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 180 Las Flores Dr, San Marcos, CA, 92069, US |
| Region / Metro | San Marcos |
| Year of Construction | 1978 |
| Units | 20 |
| Transaction Date | 2018-07-12 |
| Transaction Price | $3,900,000 |
| Buyer | LAS FLORES APTS LLC |
| Seller | WU CHING YUAN |
180 Las Flores Dr San Marcos Multifamily Investment
Neighborhood occupancy is exceptionally tight, supporting stable renter demand according to WDSuite s CRE market data; note that occupancy is measured at the neighborhood level, not this property.
Located in an inner-suburban pocket of San Marcos, the neighborhood posts very tight occupancy alongside a renter-occupied share near half of housing units. For investors, that mix points to a deep tenant base and supports lease-up and retention for multifamily assets in this submarket, per WDSuite s commercial real estate analysis. These metrics refer to the neighborhood, not the property.
Local daily-needs access is a relative strength: grocery coverage and parks are above metro median and competitive nationally, while restaurants are reasonably available. Childcare density outperforms most U.S. neighborhoods, which can aid retention for family renters. However, limited cafe and pharmacy presence may modestly reduce convenience.
Home values in the neighborhood sit near the top decile nationally, creating a high-cost ownership market that reinforces reliance on rental housing and can underpin pricing power. Median contract rents are also elevated versus most U.S. neighborhoods; lease management should account for affordability pressure, as rent-to-income levels suggest careful renewal and concession strategies.
School ratings trend below national averages, which can be a consideration for family-oriented demand. Even so, within a 3-mile radius, household incomes are rising and are projected to grow further, and households are projected to increase by roughly 39% by 2028. This points to a larger renter pool and supports occupancy stability for well-operated assets.
Relative to the San Diego Chula Vista Carlsbad metro, this neighborhood s crime rank (82 out of 621 metro neighborhoods) indicates higher crime than many peers, while its national standing trends near the middle of U.S. neighborhoods. Investors should underwrite with prudent operating assumptions and appropriate security/lighting standards.
Recent directionality is constructive: estimated violent offense rates fell about 37% year over year and property offenses declined roughly 28%, improvements that outpace many U.S. neighborhoods according to WDSuite s CRE market data. While conditions vary block to block, the broader trend suggests risk management paired with ongoing monitoring rather than avoidance.
Proximity to regional employers in biotech, energy, distribution, and technology supports a diversified renter base and commute convenience for workforce tenants, including Gilead Sciences, NRG Energy, Sysco, Qualcomm, and Celgene.
- Gilead Sciences biotech/pharma (6.6 miles)
- NRG Energy energy (7.0 miles)
- Sysco food distribution (17.3 miles)
- Qualcomm semiconductors (17.8 miles) HQ
- Celgene Corporation biotech/pharma (18.6 miles)
This 20-unit asset in San Marcos benefits from a neighborhood with extremely tight occupancy and a sizable renter concentration, indicating depth of tenant demand. Elevated home values relative to most U.S. neighborhoods create a high-cost ownership market that tends to sustain reliance on rentals, supporting leasing fundamentals and pricing power for well-managed properties, based on CRE market data from WDSuite.
Within a 3-mile radius, households are projected to grow materially by 2028 alongside rising incomes, pointing to renter pool expansion and potential for steady occupancy. Nearby access to diversified employers in biotech, energy, distribution, and technology further anchors demand. Key underwriting considerations include affordability pressure from elevated rents, below-average school ratings, and neighborhood safety that, while improving, warrants prudent risk controls.
- Tight neighborhood occupancy and meaningful renter concentration support demand stability.
- High-cost ownership landscape reinforces renter reliance and can aid pricing power.
- 3-mile area projects sizable household growth and income gains, expanding the tenant base.
- Proximity to biotech, energy, distribution, and technology employers supports leasing and retention.
- Risks: affordability pressure, softer school ratings, and above-metro crime levels despite recent improvements.