| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Poor |
| Demographics | 81st | Best |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2635 Madison St, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1974 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2635 Madison St Carlsbad Multifamily in High-Cost Market
Elevated home values and a high share of renter-occupied units at the neighborhood level point to durable renter demand, according to WDSuite’s CRE market data, while recent occupancy patterns warrant attentive lease management.
Positioned in Carlsbad’s Urban Core, the neighborhood ranks 25 out of 621 metro neighborhoods, placing it above the metro median and signaling strong fundamentals for multifamily. Amenity access is a clear advantage: restaurants and parks sit in the 98th–99th national percentiles, and grocery access is also in the 99th percentile, supporting daily convenience and renter retention.
Home values in the neighborhood are elevated (near the 99th percentile nationally), creating a high-cost ownership market. For investors, this typically sustains reliance on rental housing and can support pricing power over cycles, provided unit quality and management align with local expectations. The neighborhood’s rent-to-income ratio indicates some affordability pressure, so renewal strategies and rent-step pacing should be calibrated for retention.
Renter concentration in the neighborhood is high, with 68.9% of housing units renter-occupied (97th percentile nationally), indicating a deep tenant base. At the same time, the neighborhood occupancy rate is 86.9% (33rd percentile nationally), suggesting leasing and asset management will be important to maintain stability relative to tighter submarkets.
The asset’s vintage is 1974, while the neighborhood’s average construction year trends newer. That age gap can translate into value-add potential through system upgrades and targeted renovations to enhance competitive positioning versus newer stock. Within a 3-mile radius, recent data show a modest past dip in population but an increase in households, with forecasts indicating population growth and a sizable rise in households by 2028. This projected renter pool expansion supports demand for well-located, well-managed units, based on CRE market data from WDSuite.
Neighborhood safety indicators trend mixed: overall levels sit below the national average (around the 36th percentile nationwide), but recent directionality is constructive. Estimated property offenses declined by roughly a quarter over the past year, and violent offense estimates edged down modestly as well. For investors, this suggests monitoring remains prudent while acknowledging improving momentum at the neighborhood scale.
As always, safety can vary by block and over time. Comparing neighborhood trends to the broader San Diego-Chula Vista-Carlsbad metro and national benchmarks provides context for risk management and tenant-experience planning.
Nearby corporate anchors span energy, life sciences, technology, and food distribution, supporting a diversified employment base and commute convenience that can reinforce renter demand and lease retention.
- Nrg Energy — energy (3.35 miles)
- Gilead Sciences — biopharma (4.37 miles)
- Qualcomm — wireless & semiconductors (20.5 miles) — HQ
- Celgene Corporation — biopharma (20.9 miles)
- Sysco — food distribution (23.4 miles)
2635 Madison St is a 27-unit asset in an Urban Core neighborhood where amenity access, high renter concentration, and a high-cost ownership landscape underpin rental demand. Neighborhood occupancy sits below national averages, making disciplined leasing and renewal strategies important, but the concentration of renter-occupied housing units and strong amenity density support tenant depth and day-to-day livability. Within a 3-mile radius, forecasts point to population growth and a notable increase in households by 2028, indicating a larger tenant base that can support occupancy stability over the medium term, based on CRE market data from WDSuite.
Built in 1974, the property is older than the neighborhood average and may benefit from targeted capital plans—systems, interiors, and common-area improvements—to improve competitive positioning versus newer stock. Elevated neighborhood home values reinforce renter reliance on multifamily housing, while affordability pressures suggest thoughtful rent-step management to balance pricing power and retention.
- High renter concentration and top-tier amenity access support durable demand
- High-cost ownership market reinforces multifamily reliance and leasing depth
- 1974 vintage presents value-add potential through targeted renovations
- Forecast household growth within 3 miles expands the tenant base
- Risk: below-average neighborhood occupancy and affordability pressure require careful lease and renewal strategies