| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 52nd | Fair |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 810 Village Dr, San Marcos, CA, 92078, US |
| Region / Metro | San Marcos |
| Year of Construction | 2012 |
| Units | 108 |
| Transaction Date | 2015-01-22 |
| Transaction Price | $27,000,000 |
| Buyer | ALVA GARDENS LP |
| Seller | SP5 WOOD ALTA SAN MARCOS LLC |
810 Village Dr San Marcos Multifamily Opportunity
Positioned in an Inner Suburb of North County San Diego, this 108-unit asset benefits from a sizable renter base and high home values that help sustain rental demand, according to WDSuite’s CRE market data. Neighborhood statistics referenced below describe the area, not the property’s own operations.
The surrounding neighborhood rates a B and sits around the middle of the pack locally (ranked 251 among 621 San Diego–Chula Vista–Carlsbad neighborhoods). Renter-occupied housing accounts for a meaningful share of units (ranked 205 of 621), which is competitive among San Diego–Chula Vista–Carlsbad neighborhoods and supports depth of the tenant base. By contrast, neighborhood occupancy trends score below the metro median (ranked 527 of 621), suggesting leasing execution and pricing discipline are important to maintain stability.
Cost-of-living dynamics favor multifamily demand. Neighborhood contract rents benchmark in a high national percentile, and median home values also sit near the top nationally. In practice, this high-cost ownership market can reinforce renter reliance on multifamily housing, supporting retention and pricing power when units are well-positioned.
Quality-of-life signals are mixed but serviceable for daily living. Grocery access and parks are above national averages, and childcare density is strong; however, cafes and pharmacies are limited within the immediate neighborhood. School rating specifics are not available here, so diligence at the district and campus level is recommended for underwriting family-oriented demand.
Demographics aggregated within a 3-mile radius indicate a stable to improving demand backdrop: households have increased even as population edged down modestly, implying smaller household sizes and shifts in composition. Looking ahead, forecasts point to population growth and a notable increase in households through 2028, expanding the renter pool and supporting occupancy stability and lease-up velocity when units are competitively finished and priced.
Safety indicators warrant monitoring. The neighborhood’s crime ranking sits below the metro median (ranked 368 among 621 metro neighborhoods), and national comparisons place both violent and property offense rates in lower safety percentiles. Even so, recent data shows property offenses declining year over year, which is a constructive directional trend. Investors should underwrite security measures, lighting, and property programming in line with local norms rather than block-level assumptions.
Proximity to diversified employers across energy, biotech, food distribution, and technology supports commuter convenience and broad renter demand tied to professional and operations workforces. The employers below reflect realistic commute sheds for residents.
- NRG Energy — energy (8.7 miles)
- Gilead Sciences — biotechnology (9.5 miles)
- Sysco — food distribution (14.4 miles)
- Qualcomm — technology (15.7 miles) — HQ
- Celgene Corporation — biopharma (16.7 miles)
Built in 2012, the property is newer than the neighborhood’s average vintage and should compete well against older stock, while investors should still plan for mid-life systems and modernization as part of capital planning. Based on CRE market data from WDSuite, the neighborhood shows a sizable renter concentration but occupancy performance trails the metro median, making asset-level leasing strategy and unit positioning pivotal. High national percentiles for rents and home values point to a high-cost ownership environment that can sustain rental demand, especially as 3-mile household counts are projected to rise, expanding the tenant base and supporting long-term occupancy.
The investment case centers on durable suburban fundamentals with diversified nearby employment and demographic tailwinds. Key risks include softer safety rankings relative to national benchmarks, affordability pressure that can affect retention, and the need for disciplined lease management in a submarket where occupancy runs below metro averages.
- 2012 vintage offers competitive positioning with planned mid-life upgrades
- Renter concentration is competitive locally, supporting demand depth
- High-cost ownership market underpins rental demand and pricing power
- 3-mile household growth outlook expands the tenant base and supports occupancy
- Risks: below-metro occupancy, softer safety percentiles, and affordability pressure on retention