| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 22nd | Poor |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 240 W San Marcos Blvd, San Marcos, CA, 92069, US |
| Region / Metro | San Marcos |
| Year of Construction | 1987 |
| Units | 35 |
| Transaction Date | 2001-01-24 |
| Transaction Price | $2,648,000 |
| Buyer | TARPIN G MARK |
| Seller | KUNZMAN JAMES D |
240 W San Marcos Blvd San Marcos Multifamily with Stable Demand
Neighborhood occupancy trends indicate steady renter demand relative to broader peers, according to WDSuite’s CRE market data. For investors, this asset’s positioning in a high-amenity node supports leasing durability without relying on outsized rent growth.
The property sits within San Marcos along a well-amenitized corridor of the San Diego–Chula Vista–Carlsbad metro, where neighborhood-level occupancy is in the low-90s and above the national median. Grocery access and daily needs are strong (neighborhood grocery density ranks near the top among 621 metro neighborhoods and is in the 100th percentile nationally), with restaurants also testing the 97th percentile nationwide — factors that typically support resident retention and reduce turnover risk.
From an investment lens, the neighborhood’s housing fundamentals are competitive among San Diego–Chula Vista–Carlsbad neighborhoods (overall housing score is above the metro median of 621 areas). NOI per unit in the neighborhood tracks in the national top quintile, suggesting operators can sustain performance with efficient expense control and consistent collections when compared to similar areas.
Demographic statistics within a 3-mile radius point to a growing renter pool over the next five years, with households projected to increase as average household size moderates. This shift typically broadens the tenant base and supports occupancy stability. Median household incomes in the 3-mile radius have risen materially over the past five years, which helps underpin rent levels and reduces exposure to payment volatility.
Livability factors are mixed: parks and childcare access rank near the top nationally, while average school ratings trail national norms and cafe/pharmacy density is limited. For multifamily operations, the high-cost ownership landscape (home values and value-to-income ratios in the upper national percentiles) generally sustains renter reliance on multifamily housing, though careful rent-to-income monitoring is warranted for lease management.
Safety indicators for the immediate neighborhood trend below national norms (national percentiles for both violent and property offenses are low), which warrants thoughtful security and resident-experience practices. At the same time, recent year-over-year declines in both violent and property offense rates indicate improving momentum, suggesting conditions have been moving in a favorable direction rather than deteriorating.
Compared with the broader San Diego–Chula Vista–Carlsbad metro, the neighborhood’s crime position sits mid-pack among 621 neighborhoods, with improvement trends that can help support leasing and retention if maintained. Investors should underwrite prudent operating measures and insurance assumptions consistent with an urban-core location.
Proximity to diversified employers supports a deep commuter tenant base and helps stabilize leasing, led by energy, life sciences, food distribution, and wireless technology firms.
- Nrg Energy — energy (8.7 miles)
- Gilead Sciences — life sciences (8.8 miles)
- Sysco — food distribution (15.6 miles)
- Qualcomm — wireless technology (16.9 miles) — HQ
- Celgene Corporation — biotech (17.9 miles)
This 35-unit asset benefits from a neighborhood with above-median occupancy and strong day-to-day amenities, supporting leasing stability even as rent growth normalizes. Based on CRE market data from WDSuite, the surrounding area posts strong national standings for grocery and restaurant access and a solid neighborhood housing profile, which can translate to consistent absorption and reduced downtime between turns.
Within a 3-mile radius, population and household counts are projected to expand through 2028 while average household size edges lower — dynamics that typically broaden the renter pool and support occupancy. The area’s high-cost ownership environment reinforces reliance on multifamily rentals, though operators should manage rent-to-income exposure and resident retention thoughtfully. Overall, the setting favors durable cash flow with measured value-add potential through targeted operations and modernization.
- Above-median neighborhood occupancy supports steadier collections and lower downtime
- Strong grocery and restaurant access (top national percentiles) aids retention
- 3-mile radius shows projected household growth, expanding the tenant base
- High-cost ownership market sustains multifamily demand and pricing power
- Risks: below-national safety norms and affordability pressure require proactive management