| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Poor |
| Demographics | 81st | Best |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2601 Jefferson St, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1973 |
| Units | 58 |
| Transaction Date | 2005-01-01 |
| Transaction Price | $9,700,000 |
| Buyer | James L Hardy |
| Seller | Jeffrey Hermanson (Pres) |
2601 Jefferson St, Carlsbad Multifamily Investment
High renter concentration in the surrounding neighborhood and a high-cost ownership market support durable tenant demand, according to WDSuite’s CRE market data. Operational focus should prioritize leasing consistency given area occupancy trends and the property’s 58-unit scale.
Located in Carlsbad’s Urban Core, the property sits in a neighborhood rated A+ and ranked 25 out of 621 metro neighborhoods, indicating competitive fundamentals within the San Diego-Chula Vista-Carlsbad region. Amenity access is a clear strength: the area ranks 18 out of 621 locally and stands in the 93rd percentile nationally for overall amenities, with strong density of restaurants (98th percentile), grocery options (99th percentile), and parks (99th percentile). These features help support renter retention and day-to-day convenience for residents.
Renter-occupied share in the neighborhood is high, with renter concentration ranking 62 out of 621 metro neighborhoods (97th percentile nationally). For multifamily owners, this suggests a deep tenant base and steady leasing activity. However, neighborhood occupancy is ranked 548 out of 621 (33rd percentile nationally), signaling that operators should manage leasing cadence and renewal strategy carefully to maintain stability.
Home values in the area are elevated (99th percentile nationally), which typically sustains reliance on multifamily rentals and can support pricing power. At the same time, rent-to-income levels register low nationally, suggesting relatively manageable rent burdens for many households—an element that can aid lease retention over time.
Within a 3-mile radius, demographic data show households have increased in recent years and are projected to expand further, alongside rising median incomes through 2028. This points to a larger tenant base and potential for sustained rental demand over the medium term, based on CRE market data from WDSuite.
Neighborhood safety metrics compare less favorably to national benchmarks, with both violent and property offense measures positioned in lower national percentiles. Within the metro, crime ranks 221 out of 621 neighborhoods, indicating higher relative incidence than many San Diego-area peers.
That said, recent trend data signal improvement: estimated property offenses declined year over year, and violent offense rates edged down as well. Investors should underwrite with prudent security, lighting, and community engagement measures while recognizing that recent movement has been directionally positive.
Proximity to diversified employers underpins workforce housing demand and commuting convenience, notably across energy, life sciences, and technology. The following nearby employers contribute to a stable renter base and potential retention benefits.
- Nrg Energy — energy (3.5 miles)
- Gilead Sciences — biotechnology (4.2 miles)
- Qualcomm — semiconductors (20.6 miles) — HQ
- Celgene Corporation — biopharma offices (21.0 miles)
- Sempra Energy — utilities (32.7 miles) — HQ
Built in 1973, the asset is older than the surrounding neighborhood’s average vintage and may benefit from targeted capital improvements or value-add upgrades to remain competitive against newer stock. The immediate area combines high renter concentration with strong amenity access, while elevated ownership costs tend to keep multifamily as the more accessible option, supporting demand and potential pricing resilience.
Within a 3-mile radius, households and incomes are projected to grow through 2028, expanding the tenant base and supporting occupancy stability. According to commercial real estate analysis from WDSuite, neighborhood occupancy trends warrant attentive leasing and renewal management, but demographic momentum and amenity-driven livability offer a constructive long-term backdrop for operations.
- High renter concentration supports depth of demand and renewal potential
- Amenity-rich Urban Core location enhances livability and retention
- 1973 vintage offers value-add and modernization upside relative to newer stock
- 3-mile household and income growth point to a larger tenant base over time
- Risk: neighborhood occupancy ranks below metro median—requires disciplined leasing management