| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 40th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 160 Nettleton Rd, Vista, CA, 92083, US |
| Region / Metro | Vista |
| Year of Construction | 2000 |
| Units | 28 |
| Transaction Date | 2016-12-09 |
| Transaction Price | $2,330,000 |
| Buyer | CEDAR NETTLETON HOUSING ASSOCIATES LP |
| Seller | NETTLETON ROAD HOUSING ASSOCIATES |
160 Nettleton Rd Vista Multifamily Investment
Neighborhood occupancy is elevated and has trended stable, according to WDSuite’s CRE market data, supporting cash flow resilience for a 28-unit, 2000-vintage asset in North County. Strong amenity access and an Urban Core setting further reinforce day-to-day renter demand.
Positioned in Vista’s Urban Core, the property benefits from an A-rated neighborhood that is competitive among San Diego–Chula Vista–Carlsbad submarkets, ranking 78 out of 621 — top quartile among metro neighborhoods. Amenity access is a clear strength: grocery, childcare, parks, cafes, and pharmacies score in the upper national percentiles, which helps sustain daily convenience and leasing appeal.
Multifamily fundamentals are favorable at the neighborhood level. Occupancy is high and has improved over the past five years, and the share of housing units that are renter-occupied is substantial, indicating a deep tenant base and supporting renewal velocity. Median school ratings average around 4 out of 5, adding to family appeal compared with many urban peers.
Within a 3-mile radius, demographics show modest population growth and a steady increase in households, with forecasts calling for continued household expansion and smaller average household sizes. For investors, this points to a larger renter pool over time and demand for a mix of unit types. Household incomes have grown, while rent growth has also advanced, a combination that supports occupancy stability when managed with disciplined leasing.
Home values are elevated relative to national norms, and the value-to-income ratio sits on the higher side for the U.S. context. In practice, a high-cost ownership market tends to reinforce renter reliance on multifamily housing, which can aid pricing power and lease retention for well-maintained assets.
Safety metrics compare less favorably to many U.S. neighborhoods, based on national percentiles. That said, year-over-year trends indicate improvement, with violent offenses and property offenses declining according to WDSuite’s data. Investors should underwrite with realistic assumptions, balancing the improving trajectory with prudent security and operating practices common to urban submarkets.
Proximity to life sciences, energy, and technology employers supports commute convenience and renter demand, with a concentration of jobs within a 1.5–22 mile radius including Gilead Sciences, NRG Energy, Qualcomm, Celgene, and Sysco.
- Gilead Sciences — biotechnology (1.5 miles)
- NRG Energy — energy & services (4.8 miles)
- Qualcomm — wireless technology (20.7 miles) — HQ
- Celgene Corporation — biotechnology (21.4 miles)
- Sysco — foodservice distribution (21.9 miles)
Built in 2000, this 28-unit asset is newer than much of the surrounding stock, which averages from the 1980s. That relative vintage can reduce near-term capital needs versus older comparables while still offering value-add potential through targeted modernization and amenity upgrades as systems age. At the neighborhood level, occupancy remains elevated and renter concentration is strong, supporting a durable tenant base.
High home values in North County San Diego reinforce reliance on rentals, and within a 3-mile radius, steady population growth and a projected increase in households point to a larger renter pool over the next cycle. According to commercial real estate analysis from WDSuite, amenity density is a competitive advantage here, which can aid lease-up velocity and renewal retention when paired with thoughtful unit mix and pricing. Key risks include safety metrics that trail national medians and the need to monitor affordability pressures as rents rise, both of which are manageable with conservative underwriting and operations.
- 2000 vintage offers relative competitiveness versus older stock, with targeted value-add upside
- High neighborhood occupancy and substantial renter-occupied share support leasing stability
- Elevated home values in North County help sustain multifamily demand and pricing power
- 3-mile household growth and amenity density underpin a durable tenant base over time
- Risks: below-median safety metrics and potential affordability pressure; underwrite conservatively