| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 50th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 628 W California Ave, Vista, CA, 92083, US |
| Region / Metro | Vista |
| Year of Construction | 1980 |
| Units | 22 |
| Transaction Date | 2015-08-20 |
| Transaction Price | $3,250,000 |
| Buyer | SP 74 AW CALIFORNIA OWNER LLC |
| Seller | CAZADOR W CALIFORNIA AVE LLC |
628 W California Ave, Vista CA Multifamily Investment
Neighborhood occupancy and a deep regional renter base support stable leasing dynamics, according to CRE market data from WDSuite. With elevated local home values, this Vista location tends to sustain renter demand relative to ownership alternatives.
Vista’s inner-suburban setting offers practical livability with commuting reach across North County. Amenity access is competitive among San Diego–Chula Vista–Carlsbad neighborhoods (ranked 238 of 621), with stronger density of cafes and everyday retail than many peers, though park and pharmacy access is limited nearby. For investors, this mix supports daily convenience while highlighting an opportunity to differentiate on-site with resident services and outdoor space.
The neighborhood’s occupancy is reported at 93.7% and renter-occupied housing accounts for roughly the mid-30% share, indicating a balanced base of renters and owners that can aid leasing stability while tempering turnover risk. Median home values sit in a higher-cost ownership market (around the 90th percentile nationally), which generally reinforces reliance on multifamily housing and can support pricing power when managed alongside resident retention strategies.
Construction in the area skews somewhat newer on average than this asset’s 1980 vintage (neighborhood average year 1991). The older vintage points to potential capital planning needs but also value-add potential through targeted renovations, common-area upgrades, and systems modernization to improve competitive positioning versus younger stock.
Within a 3-mile radius, demographics are broadly stable with a large working-age population and rising incomes over recent years. Projections call for population and household growth through the mid-term, which expands the local renter pool and supports occupancy and rent durability. Neighborhood housing indicators test in the top quartile nationally, while rent-to-income levels suggest manageable affordability pressure that can favor lease retention when paired with thoughtful renewal management.
Trade-offs to underwrite include below-average school ratings and limited park access, which can be less aligned with family-focused demand segments; however, everyday retail density and regional employment access offset some of those pressures for workforce-oriented renters.
WDSuite’s data indicates the neighborhood’s safety profile trails many areas nationally, with violent and property offense measures positioned in lower national percentiles. Within the San Diego–Chula Vista–Carlsbad metro, overall crime ranks 425 out of 621 neighborhoods, placing it below the metro median.
Recent trends show a modest year-over-year decrease in estimated violent offenses, while property-related incidents have edged higher. For investors, this suggests continued emphasis on lighting, access control, and resident engagement to support retention and leasing performance, and to differentiate versus comparable assets.
Nearby life sciences, energy, and logistics employers underpin a diversified workforce renter base and commute convenience for residents, supporting leasing stability for the asset.
- Gilead Sciences — pharmaceuticals/biotech (2.5 miles)
- NRG Energy — energy (6.9 miles)
- Qualcomm — wireless/semiconductors (21.8 miles) — HQ
- Sysco — foodservice distribution (22.1 miles)
- Celgene Corporation — biotech (22.5 miles)
628 W California Ave is a 22-unit, 1980-vintage asset positioned in an inner-suburban Vista neighborhood where occupancy is steady and ownership costs are elevated relative to national norms. The older vintage creates a clear value-add path via unit and systems upgrades to compete against newer nearby stock, while the area’s renter base is reinforced by higher home values and stable day-to-day retail access. According to CRE market data from WDSuite, neighborhood occupancy remains healthy and housing indicators rank well nationally, supporting a case for consistent tenant demand.
Demand drivers include strong regional employment nodes across life sciences, energy, and logistics, plus demographic tailwinds within a 3-mile radius where incomes have risen and households are projected to increase, expanding the renter pool. Key underwriting considerations include a below-median safety profile and weaker school ratings; proactive property management and resident experience investments can help mitigate these risks and sustain retention.
- Older 1980 vintage supports value-add strategy through targeted renovations and systems modernization
- Elevated local home values bolster renter reliance on multifamily, aiding pricing power and lease-up
- Competitive amenity access and diversified nearby employment support demand and retention
- Stable neighborhood occupancy and healthy housing indicators, per WDSuite, point to leasing durability
- Risks: below-median safety and lower school ratings; requires active management, security, and resident engagement