| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 38th | Poor |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 128 Hill Dr, Vista, CA, 92083, US |
| Region / Metro | Vista |
| Year of Construction | 1978 |
| Units | 42 |
| Transaction Date | 2017-05-18 |
| Transaction Price | $8,925,000 |
| Buyer | VISTA EP LLC |
| Seller | VISTA HILLS APARTMENTS LLC |
128 Hill Dr, Vista CA Multifamily Investment
Neighborhood occupancy is strong and ownership costs are elevated, pointing to durable renter demand in Vista—based on CRE market data from WDSuite. Expect stable leasing conditions with potential for measured rent growth, supported by a broad tenant base.
The property sits in Vista within the San Diego-Chula Vista-Carlsbad metro, where the immediate neighborhood is rated B- and posts competitive occupancy versus metro peers (ranked 72 out of 621 neighborhoods), with a 99.3% neighborhood occupancy rate according to WDSuite’s CRE market data. These are neighborhood-level metrics and suggest resilient leasing backdrops for multifamily assets, not performance guarantees for this property.
Livability indicators are mixed but investor-friendly in key areas. Parks density is strong (92nd percentile nationally) and restaurants are comparatively plentiful (80th percentile), while cafes, groceries, and pharmacies show thinner coverage. Amenity depth lands above the metro median (rank 273 of 621), offering everyday convenience, though some retail categories may require short drives.
Housing fundamentals appear supportive. The neighborhood’s renter-occupied share sits in the upper tier nationally (86th percentile), indicating a sizable renter base that can aid absorption and retention. Neighborhood average NOI per unit trends in the top quintile nationwide (81st percentile), signaling healthy revenue potential relative to broader benchmarks, while median home values are elevated (90th percentile), which tends to sustain reliance on rental housing and can support pricing power for competitively positioned assets.
Within a 3-mile radius, demographics point to a stable-to-expanding tenant base: households have increased modestly in recent years and are projected to rise further, with incomes trending higher. This combination supports renter pool expansion and occupancy stability, though lease management should account for affordability pressures where applicable.
Vintage matters for capital planning. The asset was built in 1978, older than the neighborhood’s average 1988 vintage; investors may find value-add potential via renovations and system upgrades to enhance competitiveness against newer stock.
School ratings in the neighborhood track below the national median, which can influence household preferences; however, the area’s renter concentration and employment reach help underpin multifamily demand dynamics.
Safety indicators are mixed and should be evaluated with standard risk controls. Relative to neighborhoods nationwide, the area benchmarks below the national median for overall safety (29th percentile). Within the San Diego-Chula Vista-Carlsbad metro, these are neighborhood-level signals rather than block-specific readings.
Trend-wise, estimated property offenses have decreased year over year, while estimated violent offenses show a recent uptick. Investors typically address this with on-site lighting, access controls, and partnership with local patrol resources, aligning operating plans to neighborhood conditions.
The area draws from a diversified employment base that supports renter demand and commute convenience, notably in biotech, energy, and technology. Nearby anchors include Gilead Sciences, NRG Energy, Qualcomm, and Celgene.
- Gilead Sciences — biotech (1.7 miles)
- NRG Energy — energy (5.3 miles)
- Qualcomm — semiconductors (20.5 miles)
- Qualcomm — semiconductors (20.9 miles) — HQ
- Celgene Corporation — biotech (21.5 miles)
128 Hill Dr offers investors a 42-unit asset in Vista with neighborhood signals that favor multifamily demand durability. Neighborhood occupancy performance is competitive among San Diego-Chula Vista-Carlsbad neighborhoods and sits in the top tier nationally, while a high renter-occupied share indicates depth in the tenant base. Elevated home values in the area reinforce renter reliance on multifamily housing, which can support pricing power for well-positioned assets—according to CRE market data from WDSuite.
Built in 1978, the property is older than the neighborhood’s average vintage, creating a straightforward value-add path through interior updates and building system improvements to compete with younger stock. Within a 3-mile radius, household counts and incomes are rising historically with projections pointing to further household growth, which supports renter pool expansion and occupancy stability. Operators should still plan for affordability management given higher rent-to-income readings and monitor safety trends as part of standard operating risk controls.
- Competitive neighborhood occupancy and sizable renter base support stable leasing
- High-cost ownership market reinforces sustained rental demand and pricing power
- 1978 vintage presents value-add potential via renovations and system upgrades
- 3-mile demographics indicate growing households and income depth, aiding absorption
- Risks: affordability pressure (higher rent-to-income) and safety metrics below national median