| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 43rd | Poor |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 264 Avalon Dr, Vista, CA, 92084, US |
| Region / Metro | Vista |
| Year of Construction | 1988 |
| Units | 21 |
| Transaction Date | 2017-09-19 |
| Transaction Price | $3,975,000 |
| Buyer | WEINBERGER HAROLD E |
| Seller | VISTA INTERNATIONAL INC |
264 Avalon Dr, Vista CA Multifamily Investment
Neighborhood occupancy is exceptionally tight and elevated home values indicate durable renter demand, according to WDSuite’s CRE market data. This supports a straightforward, operations-focused hold with attention to tenant retention and measured rent steps.
Vista’s inner-suburban setting offers steady renter demand drivers for a 21-unit asset. The neighborhood is rated B+ and ranks 208 out of 621 across the San Diego–Chula Vista–Carlsbad metro, placing it above the metro median overall. Parks density sits in the top quartile nationally, while everyday needs like groceries and pharmacies are competitive among metro peers; cafe density is thinner, which tilts the area more toward residential convenience than destination retail.
Rents in the neighborhood trend above national medians and have risen over the past five years, while the neighborhood occupancy rate ranks 1 out of 621 — a signal of strong absorption and low frictional vacancy relative to the metro. The share of housing units that are renter-occupied is solid at the neighborhood level, indicating a meaningful tenant base and supporting leasing stability for multifamily operators.
Within a 3-mile radius, demographic statistics point to a large resident base with rising incomes and a forecast increase in households alongside slightly smaller average household sizes. This combination typically expands the renter pool and supports occupancy stability and pricing power for well-managed properties. Elevated home values locally, compared with national norms, reinforce renter reliance on multifamily housing, which can aid retention and reduce turnover sensitivity.
Vintage matters: built in 1988, the property skews newer than the neighborhood’s average construction year. That positioning generally helps competitiveness versus older stock, though investors should plan for modernization of aging systems and potential common-area updates to align with current renter expectations.
School ratings in the neighborhood trail national benchmarks, which may temper some family-driven demand, but strong parks access and neighborhood convenience mitigate that for a broad renter audience. Overall, fundamentals appear supportive for sustained occupancy with operational upside through unit refreshes and resident-experience improvements.
Safety indicators for the neighborhood track below many U.S. neighborhoods, with national percentiles that signal higher reported incidents relative to the country. Within the metro context, the neighborhood’s crime rank sits in the lower-performing cohort among 621 neighborhoods, indicating investors should underwrite prudent security measures and resident communication as part of operations.
Trend awareness is important: while year-over-year shifts can be volatile at small geographies, investors typically address this profile with lighting, access controls, and partnership with local resources. Comparative safety positioning should be considered alongside strong occupancy and income fundamentals when assessing risk-adjusted performance.
Proximity to regional employers supports commuter convenience and a stable renter base, particularly across biotech, energy, food distribution, and technology roles reflected below.
- Gilead Sciences — biotech (3.8 miles)
- NRG Energy — energy (7.2 miles)
- Sysco — food distribution (21.0 miles)
- Qualcomm — semiconductors (21.2 miles) — HQ
- Celgene Corporation — biotech (21.9 miles)
This 1988-vintage, 21-unit multifamily asset in Vista sits within a neighborhood that ranks above the metro median and demonstrates exceptionally tight occupancy, supporting stable collections and low downtime between turns. Elevated ownership costs locally sustain a deep renter pool, while 3-mile demographic statistics point to rising incomes and an expanding household count over the forecast horizon — dynamics that typically bolster retention and measured rent growth for well-run assets.
Operational focus and selective value-add should be the core thesis. The property’s vintage is newer than the neighborhood average, offering a competitive edge versus older stock; targeted modernization can capture demand without overcapitalizing. According to CRE market data from WDSuite, neighborhood-level rents and occupancy trends outpace national baselines, reinforcing the case for durable cash flow, with attention to prudent security planning and the area’s lower school ratings as part of underwriting.
- Tight neighborhood occupancy supports leasing stability and reduces downtime risk
- Elevated local home values reinforce renter reliance on multifamily housing
- 1988 construction provides competitive positioning; targeted upgrades can drive NOI
- 3-mile forecast shows growing households and rising incomes, supporting demand
- Risks: below-average safety metrics and lower school ratings warrant conservative underwriting