| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 22nd | Poor |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 285 W San Marcos Blvd, San Marcos, CA, 92069, US |
| Region / Metro | San Marcos |
| Year of Construction | 1985 |
| Units | 70 |
| Transaction Date | 2014-01-08 |
| Transaction Price | $9,290,000 |
| Buyer | TK INFINITY LLC |
| Seller | PROVIDENCE CAPITAL FUND I LP |
285 W San Marcos Blvd San Marcos Multifamily Investment
Neighborhood occupancy sits in the low-90s, supporting steady renter demand near core retail and services, according to WDSuite’s CRE market data. Rent levels trend on the higher side for the metro, so well-managed operations can focus on retention and lease quality.
San Marcos’ Urban Core setting places the property near daily-needs retail and services. Neighborhood amenities test strong for grocery access and parks, with grocery density near the top of the nation and restaurant options also plentiful, while pharmacy and cafe density are comparatively thin. For investors, this blend points to convenience for residents without overreliance on nightlife-centric demand.
Rents in the neighborhood benchmark in the upper tier nationally (around the high-80s percentile), and neighborhood occupancy trends above the national median. The local renter concentration is very high relative to the metro (ranked near the top among 621 neighborhoods), indicating a deep base of renter-occupied housing units that can support leasing velocity for multifamily assets.
Within a 3-mile radius, population has been stable and household counts have been rising, with projections calling for further population growth and a notable increase in households over the next five years. This implies a larger tenant base and supports occupancy stability, especially for professionally managed properties positioned for workforce households.
Home values in the neighborhood are elevated versus national norms, and value-to-income measures are high. In practice, this high-cost ownership market tends to sustain reliance on rental housing, which can aid tenant retention and pricing power for well-located multifamily communities.
School ratings in the area trend below national averages, which may modestly limit family-driven demand; however, proximity to childcare options is a local strength. The property’s 1984 vintage is slightly older than the neighborhood average (late-1980s), suggesting potential value-add through targeted renovations and capital planning to improve competitive positioning against newer stock.
Safety indicators for the neighborhood track below national medians, reflecting higher-than-average reported incidents relative to many U.S. neighborhoods. Within the San Diego-Chula Vista-Carlsbad metro (621 neighborhoods), the area performs below the metro average on safety.
That said, recent trends point to improvement: both violent and property offense rates have declined year over year, with the pace of reduction comparing favorably to many neighborhoods nationwide. For investors, this trajectory is worth monitoring as part of ongoing asset and tenant risk management.
The area draws on a diverse employment base spanning energy, biotech, food distribution, and technology, supporting commuter convenience and a broad renter pool for workforce housing. Nearby anchors include NRG Energy, Gilead Sciences, Sysco, Qualcomm, and Celgene.
- NRG Energy — energy (8.7 miles)
- Gilead Sciences — biotech (8.9 miles)
- Sysco — food distribution (15.4 miles)
- Qualcomm — semiconductors (16.7 miles) — HQ
- Celgene Corporation — biotech (17.7 miles)
Positioned in San Marcos’ Urban Core, this 70-unit asset benefits from a very deep renter base and neighborhood occupancy in the low-90s, with rents that benchmark in the upper tier nationally. Elevated home values relative to income reinforce reliance on rental housing, which can support lease retention and pricing discipline. The 1984 vintage is slightly older than the local average, creating value-add potential via targeted renovations and systems upgrades to strengthen competitiveness versus newer inventory. These dynamics are supported by steady population and rising household counts within 3 miles, pointing to a larger tenant base ahead. According to CRE market data from WDSuite, these fundamentals compare favorably to national trends on renter demand, with room to enhance operating performance through asset-specific improvements.
Key considerations include below-median safety statistics and softer school ratings, which warrant prudent tenant screening and active management. Rent levels are comparatively high for many households, so focusing on resident experience and renewal strategy can help sustain occupancy and cash flow.
- Deep renter concentration and above-median neighborhood occupancy support stable leasing
- High-cost ownership market reinforces rental demand and retention potential
- 1984 vintage offers value-add upside through targeted renovations and capex
- 3-mile household growth expands the tenant base, aiding long-run demand
- Risks: below-median safety and softer school ratings require active management