| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 26th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 322 Hillside Ter, Vista, CA, 92084, US |
| Region / Metro | Vista |
| Year of Construction | 1988 |
| Units | 32 |
| Transaction Date | 2016-11-02 |
| Transaction Price | $6,200,000 |
| Buyer | MILLS STREET APARTMENTS LLC |
| Seller | HILLSIDE TERRACE APARTMENTS LLC |
322 Hillside Ter, Vista CA Multifamily Value-Add Opportunity
Neighborhood occupancy remains tight and renter demand is deep, according to WDSuite’s CRE market data, supporting stable operations for a 32-unit asset in Vista’s Urban Core. With a high renter-occupied share in the surrounding neighborhood and solid amenity access, the property benefits from steady leasing fundamentals.
Vista’s Urban Core shows durable renter demand signals for multifamily investors. Neighborhood occupancy is strong and, at a rank of 203 among 621 San Diego metro neighborhoods, is competitive within the region while trending above many national peers. The neighborhood’s renter-occupied share ranks 71 of 621, placing it in the top quartile locally, which supports a deeper tenant base and leasing resilience.
Amenity access is a relative strength. Restaurant density sits in the 97th percentile nationally, and groceries and pharmacies are also above national norms (92nd and 87th percentiles, respectively). Cafés and parks both score in the mid-90s percentiles, indicating walkable daily conveniences that can aid retention and reduce turnover sensitivity. Childcare access is limited in the immediate area, which may require select residents to commute for services.
Within a 3-mile radius, demographics point to a stable near-term tenant pool with upward income trends and a forecasted increase in households through 2028. While recent years saw modest population softness, projections indicate household growth and a smaller average household size, which typically expands the renter pool and supports occupancy stability.
For this 1988-vintage asset, the submarket’s older average construction year (1967) implies a relative competitive edge versus much of the existing stock, while still offering value-add potential through modernization of interiors and common areas. Elevated home values and a high value-to-income ratio in the neighborhood indicate a high-cost ownership market, which tends to sustain multifamily demand and support lease retention. At the same time, rent-to-income levels warrant thoughtful lease management to limit affordability pressure and preserve pricing power.
Safety conditions in the neighborhood are mixed relative to broader benchmarks. Compared with neighborhoods nationwide, current indicators track below national averages for safety; however, recent trends show improvement in violent offense rates. Within the San Diego metro, the area’s safety profile sits below the median among 621 neighborhoods, so investors should underwrite accordingly for security measures and tenant experience.
In practical terms, operators often mitigate risk through lighting, access controls, and coordination with local resources. The recent downward trend in violent incidents is a constructive sign, but underwriting should remain conservative given property offense levels. Framing safety at the neighborhood scale, rather than the block level, is most appropriate for portfolio comparisons.
Nearby employers span biotech, energy services, and technology, providing a diversified employment base that supports renter demand and commute convenience for workforce and professional tenants. Featured employers include Gilead Sciences, NRG Energy, Qualcomm, Sysco, and Celgene.
- Gilead Sciences — biotech (3.2 miles)
- NRG Energy — energy services (7.0 miles)
- Qualcomm — wireless & semiconductors (21.4 miles) — HQ
- Sysco — foodservice distribution (21.5 miles)
- Celgene Corporation — biopharma (22.1 miles)
322 Hillside Ter offers a 32-unit footprint with average unit sizes near 872 sq. ft., positioned in a neighborhood with strong occupancy and a top-quartile renter-occupied share among 621 San Diego metro neighborhoods. Amenity density is a notable advantage, with restaurants, groceries, pharmacies, parks, and cafés all tracking well above national norms—factors that typically support retention and consistent leasing. According to CRE market data from WDSuite, the local ownership market is high-cost relative to incomes, which tends to reinforce reliance on rental housing and can bolster pricing power when managed against rent-to-income considerations.
The 1988 vintage is newer than much of the neighborhood’s housing stock, suggesting relative competitiveness alongside clear value-add potential via targeted renovations and common-area upgrades. While recent population trends have been soft, 3-mile forecasts point to household growth and a larger renter pool by 2028, supporting a constructive long-term outlook. Operators should remain mindful of neighborhood safety benchmarks and affordability pressure in revenue management and capital planning.
- Tight neighborhood occupancy and top-quartile renter concentration support demand depth and leasing stability.
- Amenity-rich location (restaurants, groceries, parks, cafés) enhances retention and reduces turnover risk.
- 1988 vintage is competitive versus older local stock, with clear value-add and modernization upside.
- High-cost ownership environment can sustain multifamily demand and support pricing power with prudent lease management.
- Risks: below-median neighborhood safety and affordability pressure; underwrite security and income-to-rent thresholds.