| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 40th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 243 Cedar Rd, Vista, CA, 92083, US |
| Region / Metro | Vista |
| Year of Construction | 1996 |
| Units | 40 |
| Transaction Date | 2016-12-09 |
| Transaction Price | $55,600 |
| Buyer | CEDAR NETTLETON HOUSING ASSOCIATES LP |
| Seller | CEDAR ROAD HOUSING ASSOCIATES |
243 Cedar Rd, Vista CA Multifamily Investment
Neighborhood occupancy appears resilient and renter demand is deep in this Vista urban core location, according to WDSuite's CRE market data. Investors evaluating 243 Cedar Rd can underwrite with an emphasis on stability supported by strong local amenities and a large renter-occupied housing base.
Vista's neighborhood scores A overall and ranks within the top quartile among 621 metro neighborhoods, indicating solid livability and demand drivers for multifamily. Retail and daily-needs access are a standout: grocery, pharmacy, park, cafe, and restaurant density all rate in the upper national percentiles, supporting convenience and retention for residents.
Rents and occupancy at the neighborhood level are strong relative to national benchmarks, with occupancy sitting in the higher percentiles nationally and competitive within the San Diego metro. The share of housing units that are renter-occupied is high (top national percentiles), signaling a deep tenant base and consistent leasing velocity for well-positioned assets. These characteristics align with investor takeaways commonly surfaced in WDSuite's commercial real estate analysis.
School options rate above national averages with an average rating around 4 out of 5 and a rank that places the area among the better-scoring parts of the metro. This, along with family-oriented amenities, can support longer tenancy for larger units.
Within a 3-mile radius, demographic data show modest population growth and a larger increase in households, with projections indicating further household gains and slightly smaller average household sizes over the next five years. For investors, that points to gradual renter pool expansion and supports occupancy stability, even as unit mix and pricing strategy should account for evolving household composition.
Ownership costs in the area are elevated relative to national norms, and neighborhood home values sit in higher national percentiles. This high-cost ownership market tends to sustain reliance on rental housing, which can reinforce tenant depth and reduce exposure to competition from entry-level for-sale options. Neighborhood rent-to-income levels are manageable by national standards, suggesting room for disciplined pricing without materially increasing retention risk.
Safety indicators are mixed: the neighborhood ranks competitive among San Diego's 621 neighborhoods on metro comparisons, yet sits below the national median on safety percentiles. Recent trend data show year-over-year improvement with declines in both violent and property offense rates, which is a constructive signal for investor underwriting while still warranting ongoing monitoring.
For context, the crime rank is toward the better end within the metro (ranked closer to the safer cohort among 621), but national percentiles place the area in lower safety brackets compared to neighborhoods nationwide. The improving trajectory may reduce downside risk, but prudent operating practices and security-oriented capital planning remain appropriate.
The employment base near the property spans biotech, energy, and technology, supporting renter demand via diverse, commutable job centers. Notable nearby employers include Gilead Sciences, NRG Energy, Qualcomm, Celgene, and Sysco.
- Gilead Sciences — biotech (1.5 miles)
- NRG Energy — energy (4.7 miles)
- Qualcomm — telecommunications & semiconductors (20.4 miles)
- Celgene Corporation — biotech (21.4 miles)
- Sysco — food distribution (22.0 miles)
Built in 1996 with a mid-size unit count, the property is newer than the neighborhood's average vintage and may benefit from targeted renovations to enhance competitiveness against both older stock and newer deliveries. At the neighborhood level, occupancy is high and the renter-occupied share is elevated, pointing to depth of tenant demand and potential for stable operations. According to CRE market data from WDSuite, elevated home values in the area reinforce reliance on multifamily rentals, while rent-to-income levels remain manageable by national standards, supporting disciplined pricing.
Within a 3-mile radius, projections call for an increase in households and a modest decline in average household size, which can expand the renter pool and support occupancy stability. These fundamentals, combined with strong amenity access and commutable employment nodes, present a balanced case for long-term hold with selective value-add and careful lease management.
- High neighborhood occupancy and deep renter-occupied housing share support leasing stability
- 1996 vintage offers value-add and systems modernization opportunities versus older local stock
- Elevated ownership costs in the area reinforce renter reliance and tenant depth
- 3-mile household growth and smaller household sizes point to a gradually expanding renter pool
- Risk: Safety metrics trend improving but remain below national median; maintain prudent operations and resident security measures