| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 61st | Fair |
| Amenities | 90th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 736 Center Dr, San Marcos, CA, 92069, US |
| Region / Metro | San Marcos |
| Year of Construction | 2001 |
| Units | 104 |
| Transaction Date | 2017-01-26 |
| Transaction Price | $19,000,000 |
| Buyer | GS AA SAN MARCOS OWNER LLC |
| Seller | CRP GREP VALLECITOS OWNER LLC |
736 Center Dr San Marcos CA 104-Unit Multifamily
High neighborhood occupancy and a strong renter base point to durable leasing for this San Marcos asset, according to CRE market data from WDSuite. Elevated ownership costs locally further sustain renter demand and support pricing discipline.
Located in an Inner Suburb pocket of the San Diego–Chula Vista–Carlsbad metro, the neighborhood carries an A rating and ranks 69 out of 621 metro neighborhoods, placing it competitive among San Diego neighborhoods. Amenity access is a clear strength with restaurants, groceries, parks, and daily needs in high national percentiles, while average school ratings near 4.0 (top quartile nationally) provide an additional family-friendly draw.
For investors, the clearest signal is occupancy stability: the neighborhood s occupancy rate is in the 92nd national percentile and ranks 107 of 621 in the metro competitive among peers and indicative of steady leasing conditions. Median asking rents in the area have grown over the past five years, and the renter-occupied share is about 41%, a higher renter concentration (81st percentile nationally) that supports a deeper tenant base for multifamily.
Ownership remains a high-cost option relative to incomes (value-to-income in the mid-90s national percentile), which tends to reinforce reliance on multifamily housing and can bolster retention and pricing power, even as lease management should monitor affordability pressure. Within a 3-mile radius, population and household counts have trended upward and are projected to increase further over the next five years, with households growing faster than population pointing to smaller household sizes and incremental renter pool expansion. Based on CRE market data from WDSuite, this demand backdrop aligns with the neighborhood s above-metro occupancy standing.
The property s 2001 construction is newer than the neighborhood s average vintage (early 1990s). That positioning typically offers a relative competitiveness edge versus older stock, while still leaving room for targeted modernization and systems planning as the asset approaches its mid-life cycle.
Safety indicators should be weighed with context. The neighborhood s crime rank is 128 out of 621 metro neighborhoods; because a lower rank indicates higher crime concentration in this framework, the area reads above the metro average on reported incidents. Nationally, safety percentiles sit on the lower end, signaling that investors should underwrite prudent security measures and loss assumptions.
That said, recent trend data shows meaningful improvement: estimated violent and property offense rates have each declined by roughly a quarter year over year, placing those improvements above many neighborhoods nationwide. For investors, the takeaway is to recognize current safety risks relative to national benchmarks while noting the downward trend and underwriting accordingly.
Nearby corporate nodes in life sciences, energy, food distribution, and technology provide a diverse employment base that supports commuter convenience and renter demand for workforce and professional households. The list below highlights notable employers within a commutable radius.
- Gilead Sciences biopharma (11.2 miles)
- NRG Energy energy (11.2 miles)
- Sysco food distribution (14.3 miles)
- Qualcomm technology (17.0 miles) HQ
- Celgene Corporation biopharma (18.1 miles)
736 Center Dr offers 104 units with average layouts around 878 square feet and a 2001 vintage that stands newer than the local stock, positioning the asset competitively against older properties while allowing room for value-oriented upgrades. Neighborhood occupancy sits in the upper national percentiles and ranks competitive among 621 metro neighborhoods, signaling resilient leasing fundamentals and reduced downtime risk.
Within a 3-mile radius, household counts have increased and are projected to rise further, implying smaller household sizes and a larger renter pool over time. Elevated home values relative to incomes in San Marcos support sustained reliance on rentals, though rent-to-income levels warrant attentive lease management. According to CRE market data from WDSuite, this combination strong occupancy, expanding households, and high-cost ownership underpins steady demand while calling for disciplined affordability oversight.
- Competitive 2001 vintage versus older area stock with targeted modernization upside
- Occupancy competitive among San Diego metro neighborhoods and strong nationally
- Growing 3-mile household base supports renter pool expansion and leasing stability
- High-cost ownership market reinforces multifamily demand and retention potential
- Risk: Below-national safety percentiles and affordability pressure require prudent underwriting