| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Poor |
| Demographics | 81st | Best |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3266 Harding St, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1975 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | $734,020 |
| Buyer | CALIFORNIA FEDERAL BANK |
| Seller | CAL FED SERVICE CORP |
3266 Harding St, Carlsbad Multifamily Value-Add Opportunity
Renter demand is reinforced by a high-cost ownership market and strong neighborhood amenities, while occupancy trends should be evaluated at the neighborhood level, according to WDSuite’s CRE market data.
Situated in Carlsbad’s urban core, the neighborhood rates A+ and ranks 25th among 621 San Diego metro neighborhoods, placing it in a competitive tier locally. Amenity density is a clear strength, with restaurants, parks, and grocery access testing well above national norms, supporting daily convenience and lifestyle appeal that can aid leasing and retention.
The 1975 vintage is older than the area’s average 1985 construction year, which points to potential value-add through interior modernization and systems upgrades. Investors should underwrite capital planning alongside the upside of bringing smaller average units to current finishes to enhance yield and compete against newer stock.
At the neighborhood level, an estimated 68.9% of housing units are renter-occupied (top-tier nationally), indicating a deep tenant base for multifamily. By contrast, neighborhood occupancy sits below national norms, so leasing strategies and concessions should be calibrated to local competitive dynamics rather than metro averages.
Demographic statistics are aggregated within a 3-mile radius. The area has experienced population and household growth, with forecasts pointing to further increases in households and incomes by 2028—expanding the renter pool and supporting occupancy stability. Elevated home values relative to income in the immediate neighborhood sustain reliance on rental housing, which can bolster pricing power for well-positioned product, balanced against affordability pressure and lease management considerations.
Safety indicators for the neighborhood are mixed. Locally, the area ranks 221st out of 621 San Diego metro neighborhoods—competitive among metro peers—yet sits below national safety norms (lower national percentiles). Recent trend data shows property offenses declining year over year and violent offenses easing modestly, which investors can monitor as part of ongoing risk assessment.
Given these dynamics, prudent measures include budgeting for security-minded property operations, emphasizing lighting and access controls, and aligning marketing to amenity- and commute-driven demand that supports retention. All figures reference neighborhood-level conditions rather than the property itself.
Nearby employers span energy, life sciences, and technology—providing a diversified employment base that supports renter demand and commute convenience for workforce and professional tenants. The list below reflects key names with measured proximity.
- Nrg Energy — energy services (2.8 miles)
- Gilead Sciences — life sciences (4.3 miles)
- Qualcomm — wireless technology (20.0 miles) — HQ
- Celgene Corporation — biopharma offices (20.4 miles)
- Sempra Energy — utilities (32.1 miles) — HQ
This 30-unit, 1975-vintage asset offers a value-add path in an A+-rated Carlsbad neighborhood where amenity density is a proven draw and the renter-occupied share at the neighborhood level is high. According to CRE market data from WDSuite, neighborhood rents test above national norms and ownership costs are elevated, supporting continued renter reliance on multifamily. Forecast growth in households and incomes within a 3-mile radius expands the tenant base and can help underpin occupancy once renovations align the asset with competitive product.
Key considerations include underwriting for capital improvements tied to vintage, calibrating lease-up and renewal strategies to a neighborhood occupancy rate that trails national benchmarks, and positioning smaller average units with modern finishes to maximize absorption against newer supply. The long-term thesis centers on amenity access, diversified employment nearby, and durable renter demand shaped by the local ownership landscape.
- A+-rated, amenity-rich neighborhood that supports leasing and retention
- 1975 vintage with clear value-add and systems-upgrade potential
- High renter-occupied share at the neighborhood level implies a deep tenant base
- Elevated home values sustain multifamily demand and pricing power for competitive product
- Risks: neighborhood occupancy below national norms; ongoing attention to safety and operating controls