| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 34th | Poor |
| Amenities | 54th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 258 Las Flores Dr, San Marcos, CA, 92069, US |
| Region / Metro | San Marcos |
| Year of Construction | 1979 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | $1,365,000 |
| Buyer | OWNERSHIP NAME INFORMATION |
| Seller | --- |
258 Las Flores Dr San Marcos Multifamily Value-Add
Neighborhood occupancy is exceptionally tight and ownership costs are elevated, pointing to steady renter demand in San Marcos, according to WDSuite’s CRE market data.
Located in San Marcos within the San Diego–Chula Vista–Carlsbad metro, this inner-suburban location carries a B- neighborhood rating and sits near the metro median overall, based on WDSuite’s CRE market data. Multifamily neighborhood occupancy ranks at the top of the metro (1 out of 621 neighborhoods), signaling limited available supply at the neighborhood level rather than at the individual property. For investors, this backdrop supports lease-up consistency and renewal stability, even as pricing requires careful management.
Livability metrics are mixed but supportive of daily needs: parks and open space are strong (top quartile nationally), with grocery and dining density above national norms, while cafes and pharmacies are relatively sparse. Average school ratings trend below the national median, which may matter for family-oriented tenant profiles but does not typically derail workforce housing demand.
Housing tenure shows a substantial renter-occupied share (approximately 48.5% of housing units at the neighborhood level), indicating a deep tenant base for multifamily. Elevated home values (around the 90th percentile nationally) and a high value-to-income ratio reinforce reliance on rental housing, which can support retention and pricing power with disciplined lease management.
Demographics aggregated within a 3-mile radius indicate recent softness in population and household counts, but forecasts point to growth in both population and households by 2028 alongside a modest decline in average household size. For multifamily, this suggests a larger tenant base over the medium term and steady absorption potential as more renters enter the market.
Safety indicators compare somewhat below the national median at present, with violent and property offense measures positioned in the lower national percentiles. However, year-over-year trends show notable improvement in both categories, indicating recent momentum in the right direction. As with any neighborhood-level metric, performance varies by micro-location and asset operations; prudent security planning and tenant screening can help sustain leasing stability.
Proximity to life sciences, energy, food distribution, and technology employers supports commute convenience and a diversified renter base for workforce housing. Nearby employers include Gilead Sciences, NRG Energy, Sysco, Qualcomm, and Celgene.
- Gilead Sciences — biopharma offices (6.6 miles)
- NRG Energy — energy services (6.9 miles)
- Sysco — food distribution (17.2 miles)
- Qualcomm — wireless/semiconductors (17.7 miles) — HQ
- Celgene Corporation — biopharma offices (18.5 miles)
Built in 1979, the asset is slightly older than the neighborhood average vintage, which points to potential value-add and systems modernization opportunities. Tight neighborhood occupancy and a meaningful renter-occupied share create a supportive base for maintaining collections and renewals, while elevated ownership costs in North County San Diego reinforce long-run rental demand. According to CRE market data from WDSuite, local rents benchmark above national norms, and home values sit high for the U.S., underscoring the area’s reliance on multifamily housing.
Within a 3-mile radius, recent demographic softness is expected to reverse, with forecasts indicating growth in population and households by 2028 and slightly smaller household sizes — dynamics that generally expand the renter pool and support occupancy stability. Nearby life sciences and tech employers add depth to the commuter base, while investors should underwrite conservatively for affordability pressure and school quality considerations.
- Top-ranked neighborhood occupancy in the metro supports lease-up and renewal stability
- Elevated home values sustain long-run rental reliance and pricing power
- 1979 vintage offers value-add and modernization potential relative to newer stock
- Projected growth in 3-mile population and households expands the tenant base
- Risks: affordability pressure (rent-to-income), below-median school ratings, and safety metrics that warrant prudent operations