| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 26th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 223 Nevada Ave, Vista, CA, 92084, US |
| Region / Metro | Vista |
| Year of Construction | 1991 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | $123,000 |
| Buyer | OWNERSHIP NAME INFORMATION |
| Seller | --- |
223 Nevada Ave Vista Multifamily Property
This 20-unit property built in 1991 benefits from neighborhood-level occupancy rates of 97.1%, reflecting strong rental demand dynamics according to CRE market data from WDSuite.
The Vista neighborhood demonstrates solid fundamentals for multifamily investors, with 67% of housing units occupied by renters—ranking in the 96th percentile nationally for rental concentration. This high renter share supports consistent tenant demand and lease-up velocity. Neighborhood-level occupancy reaches 97.1%, substantially above many comparable markets and indicating strong absorption dynamics.
Demographics within a 3-mile radius show a stable tenant base, with median household income of $94,672 and projected growth to $133,909 by 2028. The area's population of approximately 112,000 residents is expected to grow 4.2% over the next five years, expanding the potential renter pool. Households earning $75,000-$200,000 represent nearly 46% of the income distribution, supporting mid-market rental demand.
The neighborhood offers strong amenity density with 24.5 restaurants per square mile and 3.5 grocery stores per square mile, both ranking in the top 10% nationally. This amenity concentration enhances tenant retention and supports competitive positioning. Current median rent of $1,991 reflects 38% growth over five years, with continued upward trajectory projected through 2028.
Built in 1991, this property aligns with the neighborhood's average construction year of 1967, positioning it as relatively newer stock that may require less immediate capital expenditure compared to older vintage properties in the area. The urban core designation and established rental market provide stability for long-term ownership strategies.
Safety metrics for the Vista neighborhood present a mixed profile that requires careful consideration in investment analysis. Property crime rates rank 513th among 621 metro neighborhoods, placing the area in the lower third for property crime performance. However, violent crime trends show improvement, with a 28.8% decrease over the past year, ranking in the 74th percentile nationally for crime reduction.
The neighborhood's overall crime ranking of 319th out of 621 metro neighborhoods indicates performance near the middle of the regional distribution. Investors should factor these safety considerations into tenant screening protocols, property management strategies, and insurance planning. The improving violent crime trend suggests positive momentum, though ongoing monitoring of local safety initiatives and law enforcement presence remains advisable.
The Vista area benefits from proximity to major corporate employers that support regional workforce housing demand, including biotechnology, energy, and technology companies within commuting distance.
- Gilead Sciences — biotechnology (3.0 miles)
- Nrg Energy — energy services (7.1 miles)
- Qualcomm — technology & telecommunications (21.2 miles) — HQ
- Sysco — food distribution (21.7 miles)
- Celgene Corporation — biopharmaceutical (22.4 miles)
This Vista multifamily property presents compelling fundamentals anchored by exceptional neighborhood occupancy of 97.1% and a renter-concentrated housing market ranking in the 96th percentile nationally. The 1991 construction year positions the asset as newer vintage relative to the neighborhood average, potentially reducing near-term capital expenditure needs while supporting competitive positioning. Demographic projections show household growth and income expansion through 2028, with median household income expected to increase 41% to $133,909, strengthening the tenant base's rent-paying capacity.
The urban core location benefits from strong amenity density, with restaurant and grocery concentrations in the top 10% nationally, supporting tenant retention and lease renewal rates. According to multifamily property research data, the neighborhood's 67% renter occupancy share creates a stable demand environment, while projected population growth of 4.2% over five years indicates expanding rental market depth. Current rent levels of $1,991 median reflect sustained pricing power, with continued growth trajectory supported by income demographics and limited new supply relative to demand.
- Exceptional 97.1% neighborhood occupancy rate demonstrates strong rental demand stability
- 96th percentile nationally for renter concentration supports consistent lease-up velocity
- 1991 vintage offers competitive positioning with potentially lower capital expenditure needs
- Projected 41% household income growth through 2028 strengthens rent-paying capacity
- Property crime ranking in lower third of metro requires enhanced security and management protocols