| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 40th | Poor |
| Amenities | 54th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 987 Postal Way, Vista, CA, 92083, US |
| Region / Metro | Vista |
| Year of Construction | 1972 |
| Units | 48 |
| Transaction Date | 2012-07-05 |
| Transaction Price | $5,800,000 |
| Buyer | SFC VISTA TERRACE LP |
| Seller | MARCELLENA APARTMENTS LP |
987 Postal Way Vista Multifamily Investment
Elevated home values and above-average neighborhood occupancy point to durable renter demand in Vista, according to WDSuite’s CRE market data. For investors, the area’s high-cost ownership market supports retention and pricing discipline while broader North County job access underpins leasing.
The property sits in a Suburban Vista setting rated B- among San Diego-Chula Vista-Carlsbad, CA neighborhoods (320 of 621), indicating competitive fundamentals without core-urban volatility. Neighborhood occupancy is strong and above national norms, with stability that supports cash flow management even through cycles.
Daily convenience is a relative strength: restaurants score in the 94th percentile nationally, groceries around the 73rd percentile, and cafes near the 81st percentile, providing amenity depth that can aid leasing. Parks are also a plus (around the 78th percentile nationally), while childcare and pharmacy access are thinner, which may modestly limit family-oriented appeal. Average school ratings in the neighborhood track below national norms; investors should calibrate marketing and unit positioning accordingly.
Vintage matters. Built in 1972, the asset is older than the neighborhood’s average construction year (1984), suggesting routine capital planning and selective renovations could unlock value and improve competitive standing versus newer stock. Larger average floor plans (about 1,104 sq. ft.) can appeal to households seeking space, potentially supporting retention.
Tenure patterns show a lower renter concentration within the immediate neighborhood (about one-third of units renter-occupied), but the 3-mile radius shows a deeper renter base (approximately 47% renter-occupied), indicating a broader pool to draw from. Within 3 miles, recent data show mixed signals—past population softness alongside income gains—while forward-looking projections indicate population growth, more households, and smaller average household sizes, which together point to a larger tenant base and support for occupancy stability over time. Home values rank in the upper percentiles nationally, and this high-cost ownership context generally sustains multifamily demand and supports lease retention.
Safety indicators for the neighborhood are below national norms, and its crime rank places it closer to higher-crime areas within the San Diego-Chula Vista-Carlsbad, CA metro (ranked 178 among 621 neighborhoods). That said, recent year-over-year estimates show declines in both violent and property offenses, suggesting a moderating trend to monitor rather than a static condition.
Nationally benchmarked measures place the area in lower percentiles for safety, so underwriting should reflect prudent assumptions on security measures and operating practices. Investors may find that on-site management focus and visibility, along with resident screening and lighting/camera upgrades, can help support retention and community standards as broader trends evolve.
Proximity to a diversified employment base supports renter demand and commute convenience, with biotechnology, energy, telecommunications, and defense employers within a commutable radius.
- Gilead Sciences — biotechnology (3.9 miles)
- NRG Energy — energy (6.6 miles)
- Qualcomm — telecommunications & semiconductors (20.3 miles) — HQ
- Celgene Corporation — biopharma (21.1 miles)
- L-3 Telemetry & RF Products — defense & aerospace (26.0 miles)
This 48-unit, 1972-vintage asset offers a value-add angle in a Vista neighborhood with occupancy above national norms and amenity depth that supports leasing. Elevated home values and a high value-to-income profile in the neighborhood reinforce renter reliance on multifamily housing, while 3-mile projections point to population growth, more households, and a larger tenant base—factors that support occupancy stability and rent durability over a longer hold, based on CRE market data from WDSuite.
The property’s older vintage suggests targeted renovations, systems updates, and common-area refreshes could enhance competitive positioning versus 1980s-and-newer stock. Renter concentration is lower in the immediate neighborhood, but the broader 3-mile area shows a substantial renter pool and strong income trends, which can sustain demand. Underwriting should account for safety metrics that sit below national norms and for uneven school ratings, with corresponding management, marketing, and CapEx strategies.
- Strong occupancy at the neighborhood level supports cash flow stability and lease retention.
- High-cost ownership market sustains multifamily demand and pricing power.
- 1972 vintage provides clear value-add and systems-upgrade opportunities relative to newer comps.
- 3-mile outlook indicates renter pool expansion with rising incomes, supporting absorption.
- Risks: below-national safety metrics and lower school ratings warrant active management and calibrated positioning.