| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 76th | Best |
| Amenities | 38th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1820 Melrose Dr, San Marcos, CA, 92078, US |
| Region / Metro | San Marcos |
| Year of Construction | 2006 |
| Units | 114 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1820 Melrose Dr San Marcos Multifamily Investment
Neighborhood fundamentals point to stable renter demand and above-median incomes, according to WDSuite’s CRE market data, supporting consistent leasing conditions for a 2006-built, 114-unit asset in suburban San Marcos.
Situated in San Marcos within the San Diego-Chula Vista-Carlsbad metro, the neighborhood is rated B+ and is competitive among 621 metro neighborhoods. Household incomes and home values place the area in the national top decile, which typically supports rent collections and reduces turnover risk. Neighborhood occupancy trends sit near national medians, signaling steady but not overheated conditions that allow for disciplined pricing and lease management.
Amenity access is mixed: grocery access is stronger than average, childcare density is notably high, while cafes and parks are limited nearby. For multifamily operators, this combination often favors family-oriented renter demand with predictable daily needs, even if lifestyle amenities are less dense than urban cores. Average neighborhood construction skews late-1990s, making the subject’s 2006 vintage relatively competitive versus older local stock.
Within a 3-mile radius, population has grown in recent years with further modest expansion projected, and households are expected to increase while average household size trends slightly smaller. This pattern points to a gradually expanding renter pool and supports occupancy stability over time. Median contract rents benchmark in the upper tier nationally, and a rent-to-income profile consistent with moderate affordability pressure suggests manageable retention risk for well-managed assets.
Tenure dynamics show a lower renter concentration at the neighborhood level relative to coastal metros, which can narrow the immediate renter base but is offset by strong incomes and a deep employment market in North County and greater San Diego. For investors, the takeaway is a stable suburban location with high-earning households, upper-tier rent benchmarks, and an asset vintage that competes well against older properties.
Safety indicators are mixed compared with national benchmarks. Overall safety sits below the national median, but recent data show a decline in property offenses year over year, according to CRE market data from WDSuite. Investors should underwrite with standard precautions, emphasize lighting and access controls, and monitor neighborhood trends as conditions continue to evolve.
Relative to the San Diego metro’s 621 neighborhoods, this area is not among the highest-ranked for safety, yet it demonstrates improving property-crime momentum. A practical lens is to assume average-to-cautious operating protocols rather than premium safety assumptions, and to focus on resident experience measures that support retention.
Proximity to diversified employers supports leasing resilience and commute convenience, notably in energy, life sciences, technology, and food distribution. The following nearby employers anchor demand for professional and operations roles relevant to workforce and middle-income renters.
- Nrg Energy — energy (6.0 miles)
- Gilead Sciences — life sciences (8.5 miles)
- Qualcomm — technology offices (13.9 miles)
- Qualcomm — technology offices (14.3 miles) — HQ
- Sysco — food distribution (14.9 miles)
The 2006-vintage, 114-unit property benefits from a suburban San Marcos location where household incomes and home values rank in the national top decile, reinforcing the depth and quality of the renter base. Neighborhood occupancy is near national medians, which supports steady lease-up and renewal performance without relying on unusually tight conditions. According to CRE market data from WDSuite, neighborhood NOI per unit trends in the top percentile nationally, and rent benchmarks are upper tier, indicating room for disciplined revenue management when paired with effective retention strategies.
Relative to older late-1990s neighborhood stock, the 2006 construction offers competitive positioning and potential to capture demand from residents seeking newer product, while acknowledging that select building systems and common areas may still benefit from modernization. Demographic data aggregated within a 3-mile radius show recent population growth and a projected increase in households alongside slightly smaller household sizes, pointing to gradual renter pool expansion and support for occupancy stability. Tenure signals indicate a lower renter concentration locally, which warrants focused marketing and amenity programming but is balanced by strong incomes and proximity to major employers.
- 2006 vintage competes well versus older neighborhood stock; selective upgrades can enhance positioning
- High-income, top-decile home value context supports pricing power and rent collections
- Neighborhood occupancy near national medians with upper-tier rent benchmarks aids steady revenue management
- 3-mile demographics indicate growing households and a gradually expanding renter pool
- Risks: below-median national safety indicators and modest amenity density require attentive operations and resident experience