| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 40th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1923 West Dr, Vista, CA, 92083, US |
| Region / Metro | Vista |
| Year of Construction | 1979 |
| Units | 20 |
| Transaction Date | 1994-09-22 |
| Transaction Price | $460,000 |
| Buyer | WESTOAK PROPERTIES LLC |
| Seller | SUNSET BEACHES LLC |
1923 West Dr Vista CA Multifamily Opportunity
Neighborhood fundamentals point to resilient renter demand and high occupancy stability, according to WDSuite s CRE market data, with investor upside tied to operational execution and selective improvements.
The property sits within an Urban Core neighborhood of the San Diego Chula Vista Carlsbad metro that ranks 78th of 621 neighborhoods, placing it in the top quartile among metro peers. Amenity access is a clear strength: cafes, parks, groceries, and pharmacies register in the mid- to high-90s national percentiles, supporting day-to-day convenience and renter retention.
Neighborhood occupancy is 98.1% (neighborhood-level, not the property), which supports lease-up and renewal stability relative to many U.S. locations. Median contract rents in the neighborhood sit in a higher national percentile while the rent-to-income ratio indicates manageable affordability pressure for many households, suggesting room for disciplined pricing without overextending renter budgets.
Tenure dynamics favor multifamily: renter-occupied housing comprises roughly seven-tenths of neighborhood units, indicating a deep tenant base and steady leasing velocity for well-managed assets. Median home values are elevated for the metro, which typically sustains reliance on rental housing and supports occupancy durability during normal market cycles.
Within a 3-mile radius, population has grown modestly and households are projected to increase through 2028. Rising median incomes and forecast rent growth in the area point to a larger tenant base over time and support for rent levels in well-positioned properties, based on CRE market data from WDSuite.
Vintage context: the asset s 1973 construction is older than the neighborhood s average 1980 stock, implying capital planning for systems and interiors. For investors, this can translate into targeted value-add opportunities where renovations can enhance competitiveness against newer supply.
Safety trends should be evaluated with care. Neighborhood crime measures sit below national safety percentiles, indicating higher incident rates than many U.S. neighborhoods; however, recent year-over-year data show meaningful declines in both violent and property offenses, suggesting directional improvement. These figures reflect the neighborhood as a whole, not the property.
Within the metro, the area performs competitively against several San Diego Chula Vista Carlsbad neighborhoods but remains below national benchmarks. Investors often mitigate this profile through enhanced on-site management, lighting, and access controls to support resident experience and retention.
Proximity to major employers supports a broad renter pool and commute convenience for residents, led by life sciences, energy, and technology. The following nearby employers can underpin demand and lease stability: Gilead Sciences, NRG Energy, Qualcomm, Celgene Corporation, and Sempra Energy.
- Gilead Sciences biopharma (1.38 miles)
- NRG Energy energy (4.86 miles)
- Qualcomm wireless & semiconductors (20.86 miles) HQ
- Celgene Corporation biopharma (21.48 miles)
- Sempra Energy utilities (33.22 miles) HQ
1923 West Dr offers exposure to an Urban Core sub-neighborhood with strong amenity access and a renter-heavy housing mix that supports leasing depth. Neighborhood occupancy of 98.1% (neighborhood-level, not the property) and elevated home values point to sustained reliance on rental housing, while within a 3-mile radius households are expected to increase and incomes trend higher all supportive of demand and rent integrity. The 1973 vintage is older than nearby stock on average, creating a clear case for targeted renovations to enhance competitive positioning and drive rent premiums where supported.
According to CRE market data from WDSuite, neighborhood rents sit in higher national percentiles but rent-to-income levels suggest room for disciplined growth without materially elevating retention risk. Key considerations include capital planning for an older physical plant and managing to local safety trends; with focused operations, the asset can benefit from durable occupancy fundamentals and a deep tenant base.
- Renter-heavy neighborhood and high occupancy support stable leasing and renewals.
- Strong amenity access and elevated ownership costs reinforce multifamily demand.
- 1973 vintage offers value-add potential via targeted interior and systems upgrades.
- Household and income growth within 3 miles expand the renter pool over time.
- Risks: older building capex and below-national safety metrics require proactive management.