| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 60th | Fair |
| Amenities | 50th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 460 W Mission Rd, San Marcos, CA, 92069, US |
| Region / Metro | San Marcos |
| Year of Construction | 2002 |
| Units | 71 |
| Transaction Date | 2018-03-19 |
| Transaction Price | $13,774,000 |
| Buyer | PASEO DEL ORO APARTMENTS LP |
| Seller | SAN MARCUS HOUSING PARTNERS LP |
460 W Mission Rd, San Marcos Multifamily Investment
Stabilized renter demand in an Inner Suburb setting, supported by a high-cost ownership market that can bolster retention and pricing power, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb of the San Diego-Chula Vista-Carlsbad metro and is competitive among metro neighborhoods (ranked 191 of 621). Neighborhood occupancy trends are solid and sit above national norms, supporting cash flow durability. Renter concentration in the area is a little over two-fifths of housing units, which indicates a meaningful tenant base without overreliance on rentals.
Livability fundamentals are balanced. Parks access rates in the top quartile nationally, and grocery and restaurant densities are around metro medians, while cafe density is thinner. Schools average roughly 4 out of 5 and score in the top national quartile — a positive for longer-term household stability and family renter demand.
For investors, the ownership landscape is high-cost relative to incomes (value-to-income sits in a very high national percentile), which tends to reinforce reliance on multifamily housing and can aid lease retention. Median contract rents benchmark above national levels, so active affordability management remains important for renewal performance.
Demographics within a 3-mile radius show a stable population with a recent uptick in households and forecasts calling for additional household growth alongside smaller average household sizes. That mix points to a larger renter pool over time and supports occupancy stability and leasing velocity, based on commercial real estate analysis from WDSuite.
Construction year is 2002, newer than the neighborhood average vintage. This positioning typically helps competitiveness versus older stock, though investors should still plan for aging systems and selective modernization to sustain rent positioning.
Safety indicators are mixed relative to broader benchmarks. On a national basis, both violent and property offense rates track below national percentiles for safety; however, the neighborhood has shown meaningful year-over-year improvement with double-digit declines in estimated offense rates, suggesting a positive directional trend.
Within the San Diego-Chula Vista-Carlsbad metro, the area’s crime rank (117 among 621 neighborhoods) indicates conditions below the metro average but not among the worst outliers. For investors, this argues for standard security measures and attentive property management while recognizing improving momentum over the last year.
Nearby employment anchors span biotech, energy, food distribution, and technology, supporting a diverse white-collar and operations workforce that underpins renter demand and commute convenience for residents. The employers below reflect the closest concentration influencing daily leasing dynamics.
- Gilead Sciences — biotechnology (8.4 miles)
- NRG Energy — energy (8.5 miles)
- Sysco — foodservice distribution (15.9 miles)
- Qualcomm — semiconductors (17.2 miles) — HQ
- Celgene Corporation — biotechnology (18.1 miles)
460 W Mission Rd offers investors a 2002-vintage, 71-unit asset positioned in a high-cost ownership pocket of North County San Diego. Neighborhood occupancy sits above national benchmarks, schools score in the top quartile nationally, and renter concentration is balanced — together indicating a durable tenant base with family and workforce demand drivers. According to CRE market data from WDSuite, local rents and incomes trend above national levels, which supports revenue potential while requiring disciplined affordability and renewal management.
Being newer than the neighborhood average vintage provides competitive positioning versus older stock, with potential to capture premiums via targeted updates and system refreshes. Demographic trends within a 3-mile radius point to ongoing household growth and a gradually expanding renter pool, reinforcing lease-up and retention prospects. Key risks include safety metrics that trail national percentiles despite improving trends and a modest softening in neighborhood occupancy versus five years ago, warranting active asset management.
- Newer 2002 vintage relative to area stock supports competitive positioning with selective modernization upside
- Above-average neighborhood occupancy and school quality support family and workforce renter demand
- High-cost ownership market underpins rental reliance and can aid lease retention
- 3-mile household growth and smaller household sizes expand the renter pool over time
- Risks: safety metrics below national percentiles and slight occupancy softening call for proactive management