| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 40th | Poor |
| Amenities | 54th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 243 Pala Vista Dr, Vista, CA, 92083, US |
| Region / Metro | Vista |
| Year of Construction | 1980 |
| Units | 34 |
| Transaction Date | 1998-05-13 |
| Transaction Price | $412,500 |
| Buyer | GARNER JOHN E |
| Seller | DJEKICH |
243 Pala Vista Dr Vista Multifamily Opportunity
Neighborhood fundamentals point to steady renter demand and pricing resilience, according to WDSuite’s CRE market data; figures cited reflect neighborhood conditions rather than property performance.
The property sits in a suburban Vista location that ranks around the metro median among 621 San Diego–Chula Vista–Carlsbad neighborhoods (overall B- rating). Dining access is a relative strength: restaurant density is in the top decile nationally, and cafes track in the upper tier as well, while grocery access is above the national median. Park access is also stronger than average, supporting day‑to‑day livability for residents.
School quality trends below national norms (average rating near the lower quintile), which may temper appeal to some family renters. Childcare and pharmacy counts are limited in the immediate neighborhood, so residents may rely on nearby areas for those services. These factors warrant attention when underwriting family-oriented unit mixes and amenity programming.
Local housing metrics indicate a high‑cost ownership market: home values sit in the upper national percentiles with a value‑to‑income ratio also elevated. For multifamily investors, this typically sustains renter reliance on apartments and can support lease retention and pricing power, particularly with a neighborhood rent‑to‑income ratio near the national median.
Neighborhood occupancy is above the national median and has been broadly stable, suggesting demand depth for well‑positioned assets. Renter‑occupied housing accounts for roughly one‑third of neighborhood units, indicating a moderate renter concentration and a meaningful tenant base. Construction in the area averages mid‑1980s; with a 1980 vintage, this asset may trail newer stock on finishes and systems, creating value‑add and capital planning opportunities to enhance competitiveness.
Within a 3‑mile radius, demographic data point to a large, diversified population with median household incomes trending higher over the past five years and projections showing growth in both population and households over the next five, which would expand the renter pool and support occupancy stability.
Safety compares less favorably to national benchmarks at present, with the neighborhood tracking in lower national percentiles for both violent and property offenses. Within the San Diego metro, the area ranks 178th of 621 neighborhoods for crime (a lower rank indicates more reported crime). That said, recent year‑over‑year trends show double‑digit declines in both violent and property offense rates, signaling improvement that investors should monitor over subsequent periods.
For underwriting, prudent assumptions around security measures, lighting, and resident engagement can help support retention, while trend monitoring is advisable to assess whether recent improvements persist relative to nearby submarkets.
Proximity to a diverse employment base supports renter demand and commute convenience, notably in biotech, energy, foodservice distribution, and wireless technology represented below.
- Gilead Sciences — biotech (3.6 miles)
- NRG Energy — energy (6.4 miles)
- Qualcomm — wireless & semiconductors (20.3 miles) — HQ
- Sysco — foodservice distribution (20.5 miles)
- Celgene Corporation — biotech (21.1 miles)
243 Pala Vista Dr is a 34‑unit, 1980‑vintage asset positioned in a suburban Vista neighborhood where elevated ownership costs and above‑median occupancy reinforce multifamily demand. Based on CRE market data from WDSuite, the neighborhood’s rent levels sit in upper national tiers, while rent‑to‑income trends near the national median point to manageable affordability pressure that can aid lease retention. The asset’s vintage suggests room for targeted renovations and systems upgrades to compete against mid‑1980s and newer stock.
Within a 3‑mile radius, incomes have risen meaningfully over the last five years and forecasts call for increases in both population and households, expanding the tenant base and supporting occupancy stability. Balanced against these strengths are softer school ratings and safety metrics that, while improving, call for thoughtful management and resident‑facing enhancements.
- High‑cost ownership market sustains renter reliance and supports pricing power
- Above‑median neighborhood occupancy and growing 3‑mile household counts support demand
- 1980 vintage offers value‑add and capital planning levers versus newer competition
- Diverse nearby employers in biotech, energy, and wireless bolster leasing stability
- Risks: Below‑average school ratings and weaker safety metrics require active management