| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 77th | Best |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3350 Calle Santiago, Carlsbad, CA, 92009, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1987 |
| Units | 64 |
| Transaction Date | 2025-04-04 |
| Transaction Price | $138,750,000 |
| Buyer | BMF V CA SANTA FE RANCH LLC |
| Seller | SANTA FE RANCH LLC |
3350 Calle Santiago Carlsbad Multifamily—High-Occupancy Submarket
Neighborhood occupancy is strong and owner-weighted, supporting stable tenancy and measured pricing power according to WDSuite’s CRE market data. Figures cited reflect neighborhood conditions, not property operations.
This A-rated Carlsbad inner-suburb location ranks in the top quartile among 621 San Diego metro neighborhoods, with a tenant base supported by strong schools (average ratings near the top of the metro) and a well-educated workforce. Neighborhood metrics indicate high occupancy, which has trended up over the past five years, underscoring leasing stability at the neighborhood level rather than at this specific property.
Retail and daily-needs access are favorable: restaurants and cafes score in the upper national percentiles, and grocery and pharmacy density are above average. Park access is limited locally, which may modestly soften amenity appeal for some residents, but nearby coastal and community amenities help offset this at the metro scale.
Housing dynamics lean owner-heavy with a relatively low share of renter-occupied units, implying a smaller but higher-income renter pool. Elevated home values and a high-cost ownership market in this neighborhood tend to sustain reliance on multifamily housing and support retention and pricing discipline for quality assets.
Within a 3-mile radius, recent years show population growth alongside increasing household counts and rising incomes, pointing to a larger tenant base over time. Forward-looking data also indicate smaller household sizes and continued income gains, which can support demand for professionally managed units and steady occupancy, based on commercial real estate analysis from WDSuite.
Vintage context: built in 1987 versus a neighborhood average near the late-1980s, the asset’s era suggests selective capital planning for systems modernization and the potential for targeted value-add features to compete effectively with newer stock.
Safety indicators for the neighborhood sit below the national median, so investors should underwrite prudent security and loss-prevention practices. At the same time, estimated property crime rates have improved year over year, indicating a constructive trend even as overall safety remains a monitoring item. These are neighborhood-level signals and may not reflect block-level conditions.
Proximity to energy, life sciences, and technology employers supports a white-collar renter base and commute convenience, which can aid leasing stability and renewals for workforce-oriented units. The employers below represent the closest concentrations that influence neighborhood demand.
- NRG Energy — energy (5.66 miles)
- Gilead Sciences — biotech (9.53 miles)
- Qualcomm — wireless & semis (12.74 miles) — HQ
- Celgene Corporation — biotech (13.45 miles)
- Sysco — food distribution (14.44 miles)
3350 Calle Santiago benefits from a top-quartile San Diego suburban location where neighborhood occupancy remains high and renter demand is reinforced by elevated ownership costs and strong incomes. Within a 3-mile radius, household counts and earnings have been rising, expanding the qualified renter base and supporting steady lease-up and renewal velocity. Built in 1987, the property’s vintage points to targeted modernization and value-add potential to sharpen competitive positioning versus newer comparables.
According to CRE market data from WDSuite, the neighborhood’s school quality and amenity access (food, cafes, daily needs) are above national norms, while a smaller share of renter-occupied housing implies a more select but higher-income tenant pool. Underwriting should account for below-median national safety readings and limited park access, alongside the positive trend in property-crime improvement and high neighborhood occupancy.
- High neighborhood occupancy supports leasing stability and retention
- Elevated ownership costs and strong incomes sustain multifamily demand
- 1987 vintage offers targeted value-add and systems modernization upside
- Amenity access and school quality enhance location fundamentals
- Risks: owner-weighted tenure, below-median national safety, limited parks