| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 52nd | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 705 Ash Ln, San Marcos, CA, 92069, US |
| Region / Metro | San Marcos |
| Year of Construction | 1991 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
705 Ash Ln San Marcos Multifamily Investment
This 120-unit property built in 1989 operates in a neighborhood with strong rental demand, where 48.4% of housing units are renter-occupied, ranking in the 87th percentile nationally for rental concentration.
The San Marcos neighborhood demonstrates solid fundamentals for multifamily investors, with demographic data aggregated within a 3-mile radius showing a population of 67,178 residents and projected growth to 74,196 by 2028. Median household income of $100,518 supports rental affordability, with contract rents at $2,229 expected to reach $2,792 by forecast year.
Built in 1989, this property represents the neighborhood's construction vintage average of 1993, positioning it competitively among area assets without immediate capital expenditure pressures. The 48.4% share of renter-occupied housing units ranks in the 87th percentile nationally, indicating strong rental market depth and tenant pool stability.
Neighborhood occupancy of 91.5% reflects balanced supply-demand dynamics, while median home values of $617,317 reinforce rental demand by maintaining elevated ownership costs relative to rental options. The area's rent-to-income ratio of 0.28 suggests manageable affordability for tenants, supporting lease retention and renewal rates.
Demographic projections show household growth from 21,881 to 30,895 units by 2028, representing a 41.2% increase that expands the potential tenant base. The forecast renter pool is expected to grow to 9,067 units, supporting continued occupancy stability and absorption of available inventory.
Safety metrics show mixed trends that warrant monitoring. Property crime rates of 498.5 per 100,000 residents rank 70th among 621 metro neighborhoods, placing the area in the 37th percentile nationally. However, property crime decreased 53.1% year-over-year, ranking 14th metro-wide for improvement and reaching the 89th percentile nationally for crime reduction.
Violent crime rates of 182.5 per 100,000 residents rank 243rd among metro neighborhoods, corresponding to the 22nd percentile nationally. Violent crime increased 5.5% over the past year, though this remains within typical fluctuation ranges for urban core neighborhoods in the San Diego metro area.
The San Marcos area benefits from proximity to major corporate employers that support workforce housing demand, including biotechnology, energy, and technology companies within commuting distance.
- Gilead Sciences — biotechnology (8.8 miles)
- Nrg Energy — energy services (9.4 miles)
- Sysco — food distribution (16.1 miles)
- Qualcomm — technology HQ (17.8 miles)
- Celgene Corporation — biotechnology (18.8 miles)
This 120-unit property built in 1989 presents a value-oriented opportunity in San Marcos' established rental market. According to CRE market data from WDSuite, the neighborhood's 48.4% renter occupancy rate ranks in the 87th percentile nationally, indicating deep rental demand fundamentals. Demographic projections show household growth of 41.2% through 2028, expanding the tenant base from 21,881 to 30,895 households while renter-occupied units are forecast to increase to 9,067.
The property's 1989 construction year aligns with neighborhood averages, reducing immediate capital expenditure needs while offering potential value-add opportunities through selective unit upgrades. Current neighborhood occupancy of 91.5% reflects balanced market conditions, while median contract rents of $2,229 are projected to reach $2,792 by 2028, supporting revenue growth potential.
- Strong rental market depth with 48.4% renter occupancy ranking 87th percentile nationally
- Household growth of 41.2% projected through 2028 expands tenant base
- Balanced occupancy at 91.5% with rent growth potential to $2,792
- Value-add opportunity through selective renovations of 1989 vintage units
- Risk consideration: Monitor property crime trends despite recent 53.1% improvement