| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 38th | Poor |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 309 Grapevine Rd, Vista, CA, 92083, US |
| Region / Metro | Vista |
| Year of Construction | 1978 |
| Units | 47 |
| Transaction Date | --- |
| Transaction Price | $2,705,000 |
| Buyer | OWNERSHIP NAME INFORMATION |
| Seller | --- |
309 Grapevine Rd Vista 47-Unit Multifamily Investment
Neighborhood occupancy is high and has trended stable, supporting income durability at the asset level, according to WDSuite’s CRE market data. Elevated local ownership costs further sustain renter demand in this Vista location; all occupancy and tenure metrics reference the neighborhood, not the property.
The property sits in Vista, within the San Diego–Chula Vista–Carlsbad metro, where the neighborhood shows tight apartment fundamentals. Neighborhood occupancy is in the top quartile among 621 metro neighborhoods, indicating limited near-term supply pressure and supporting retention. Median asking rents in the area track above national norms, and home values are high for the U.S., which tends to reinforce reliance on rental housing and supports pricing power.
Lifestyle access is mixed: restaurants are competitive by national standards, parks are a relative strength, and childcare density ranks among the strongest nationally. At the same time, the neighborhood trails on grocery and pharmacy density, which may affect daily convenience. Average school ratings are below national medians; investors should weigh this in underwriting for family-oriented unit mixes.
Demographic statistics aggregated within a 3-mile radius show modest population growth with a noticeable increase in households and a smaller average household size projected by 2028. This points to a larger renter pool and supports occupancy stability and leasing velocity. The neighborhood’s renter-occupied share is in the upper tier locally, signaling depth in tenant demand for multifamily product.
Built in 1978, the asset is older than the neighborhood’s average construction year. That vintage profile suggests potential for value-add through interior upgrades and targeted capital planning on building systems to remain competitive against newer stock. These dynamics, supported by multifamily property research from WDSuite, frame a balanced case for durable demand with clearly defined improvement levers.
Safety indicators for the neighborhood are weaker than national averages, placing it below the metro median among 621 metro neighborhoods. Property crime sits in a lower national percentile, though the most recent year shows an improvement trend with declining property offense rates. Violent crime also benchmarks below national norms. Investors should underwrite security, lighting, and operational practices accordingly and monitor ongoing local trends.
Proximity to a diverse employment base supports renter demand and retention, with nearby biotech, energy, and technology employers offering commute convenience for the local workforce.
- Gilead Sciences — biotech (1.5 miles)
- NRG Energy — energy (5.3 miles)
- Qualcomm — wireless & semiconductors (21.0 miles) — HQ
- Celgene Corporation — biotech (21.7 miles)
- Sysco — food distribution (22.0 miles)
309 Grapevine Rd offers scale at 47 units in a Vista neighborhood where multifamily fundamentals are tight. Neighborhood occupancy ranks in the top quartile metro-wide and rents benchmark above national norms, supporting cash flow durability and measured pricing power, according to CRE market data from WDSuite. Elevated ownership costs locally further reinforce reliance on rentals.
The 1978 vintage creates a clear value-add pathway through unit renovations and selective system upgrades to compete with newer stock, while 3-mile demographics point to a larger renter pool by 2028 as household counts rise and household sizes contract—both supportive of demand depth and lease-up stability. Key underwriting considerations include below-average school ratings, thinner grocery/pharmacy access, and safety metrics that trail national benchmarks.
- Tight neighborhood occupancy and rent levels support income stability
- 1978 vintage with value-add upside via interior and system upgrades
- High-cost ownership market sustains renter reliance and pricing power
- 3-mile household growth and smaller household sizes expand renter pool
- Risks: below-average school ratings, limited daily amenities, and weaker safety benchmarks