| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Poor |
| Demographics | 81st | Best |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3380 Harding St, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1972 |
| Units | 37 |
| Transaction Date | 2019-03-26 |
| Transaction Price | $9,300,000 |
| Buyer | F & F HARDING LP |
| Seller | PROPE DELOACH MICHAEL |
3380 Harding St Carlsbad Multifamily Investment Opportunity
Neighborhood fundamentals point to durable renter demand given a high share of renter-occupied units and a high-cost ownership market, while occupancy in the neighborhood sits below stronger San Diego submarkets, according to CRE market data from WDSuite.
Carlsbad’s Urban Core setting delivers lifestyle access that helps leasing and retention. The neighborhood places in the top quartile nationally for overall amenities, with grocery and park access near the 99th percentile and restaurants also well above national norms. For investors, this concentration of daily-needs and leisure amenities typically supports steady touring activity and reduces concession needs during softer periods.
The neighborhood skews strongly renter-occupied at 68.9%, signaling depth in the tenant base for a 37‑unit asset and reinforcing multifamily demand. In contrast, the neighborhood occupancy rate is 86.9%, which trails stronger segments of the metro; execution around leasing, renewals, and unit readiness will matter more here than in tighter submarkets. Home values rank in the 99th percentile nationally, indicating a high-cost ownership market that tends to sustain reliance on rental housing and support pricing power when managed carefully.
Vintage also creates an angle: the average construction year locally is 1985, while the subject was built in 1972. Older-vintage assets often require capital for building systems and interiors, but that can translate into value‑add or renovation upside relative to newer stock, especially where amenity density and renter demand are strong.
Within a 3‑mile radius, demographics indicate population growth over the last five years and a projected increase through the next cycle, alongside a larger household count and rising incomes. This points to a gradually expanding renter pool and supports occupancy stability and rent trade‑ups when paired with targeted upgrades and prudent lease management, based on CRE market data from WDSuite.
Safety conditions should be contextualized at the neighborhood level rather than the property. The area’s crime profile ranks 221 out of 621 San Diego metro neighborhoods, and national positioning sits below the median (around the 36th percentile for overall crime). This indicates investors should underwrite to typical Urban Core risk controls such as lighting, access management, and tenant screening.
Recent trends are constructive: estimated property offenses declined year over year and violent incidents also eased modestly. While the neighborhood does not benchmark as a top‑quartile safety location nationally, directional improvement reduces downside risk if operational practices remain strong.
Proximity to established regional employers supports a steady renter pipeline and commute convenience, notably in energy, biopharma, telecommunications, and utilities. The list below reflects nearby anchors most relevant to multifamily demand in this submarket.
- NRG Energy — energy (2.7 miles)
- Gilead Sciences — biopharma (4.3 miles)
- Qualcomm — telecommunications & semiconductors (19.9 miles) — HQ
- Celgene Corporation — biopharma (20.3 miles)
- Sempra Energy — utilities (32.0 miles) — HQ
3380 Harding St offers a livable, amenity‑dense Carlsbad location with a renter‑oriented neighborhood and high-cost ownership backdrop that historically sustains multifamily demand. While the neighborhood occupancy rate is softer than tighter San Diego submarkets, proximity to employment and daily‑needs amenities can help stabilize leasing velocity with effective operations. According to CRE market data from WDSuite, the area’s amenity access benchmarks near the top nationally, reinforcing long‑term fundamentals.
Built in 1972, the asset is older than the neighborhood’s 1985 average, pointing to potential value‑add through systems, exterior, and interior updates. Within a 3‑mile radius, population and household growth — alongside income gains — indicate a gradually expanding renter base that can support occupancy and rent trade‑ups when paired with disciplined lease management and thoughtful capital planning.
- Amenity‑rich Urban Core location with grocery, parks, and dining access supporting leasing and retention
- High renter concentration and elevated ownership costs bolster depth of demand for multifamily
- 1972 vintage offers value‑add potential via targeted renovations and building‑systems upgrades
- Nearby employers in energy, biopharma, telecom, and utilities support a stable tenant pipeline
- Risks: neighborhood occupancy below tighter San Diego submarkets and below‑median national safety require strong operations and underwriting discipline