| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 77th | Best |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3401 Calle Odessa, Carlsbad, CA, 92009, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1987 |
| Units | 80 |
| Transaction Date | 2025-04-04 |
| Transaction Price | $138,750,000 |
| Buyer | BMF V CA SANTA FE RANCH LLC |
| Seller | SANTA FE RANCH LLC |
3401 Calle Odessa Carlsbad Multifamily Opportunity
Neighborhood fundamentals indicate durable renter demand and high occupancy stability, according to WDSuite’s CRE market data, with metrics reflecting the surrounding neighborhood rather than the property itself.
Situated in Carlsbad’s inner-suburban fabric, the area scores an A neighborhood rating and is competitive among San Diego metro neighborhoods (71 out of 621). Neighborhood occupancy is high and above national norms, supporting income stability and lease retention for multifamily operators; note these occupancy indicators reflect the neighborhood, not 3401 Calle Odessa specifically.
Within a 3-mile radius, households have grown alongside strong income gains, expanding the qualified renter pool. Forecasts show household counts continuing to rise even as average household size trends smaller, which typically supports steady apartment absorption and occupancy management.
Elevated home values and strong household incomes in the neighborhood favor renter reliance on multifamily housing, helping sustain pricing power when paired with an estimated rent-to-income profile that is manageable by regional standards. At the same time, renter-occupied units represent a minority share within 3 miles, implying a shallower renter base than core urban submarkets—operators should emphasize retention and targeted leasing to maintain velocity.
Quality-of-life drivers are solid for working households: highly rated schools (average ratings in the top national percentiles), strong access to restaurants, cafes, groceries, and pharmacies relative to national benchmarks, and broad suburban convenience. Park density is comparatively limited in the immediate neighborhood, an operating consideration for communities where outdoor amenities are part of the resident value proposition.
Vintage context: the property’s 1987 construction is slightly older than the neighborhood’s average building year. Investors should underwrite ongoing capital planning and selective renovations to maintain competitive positioning against newer stock while leveraging the area’s occupancy resilience.
Safety indicators are mixed when viewed against national comparisons. Overall crime measures sit below the national median (crime national percentile around the low-40s), while property offenses have trended down over the most recent year in the neighborhood, an improvement that ranks above many peer areas. These statistics reference the neighborhood and broader metro benchmarks, not the property.
Interpreting the regional context, the neighborhood’s crime rank is measured against 621 San Diego metro neighborhoods; directional readings suggest conditions that are competitive among metro peers, with recent declines in property offenses offering a constructive trend line. As always, investors should align underwriting with current local reporting and management practices.
The employment base within a commutable radius skews toward energy, biotech, semiconductors, and distribution, supporting renter demand through diversified professional jobs and commute convenience. Highlights include NRG Energy, Gilead Sciences, Qualcomm, Celgene, and Sysco.
- NRG Energy — energy (5.8 miles)
- Gilead Sciences — biotech (9.7 miles)
- Qualcomm — semiconductors & wireless (12.6 miles) — HQ
- Celgene Corporation — biotech (13.4 miles)
- Sysco — food distribution (14.3 miles)
3401 Calle Odessa benefits from a high-occupancy neighborhood, strong incomes, and limited new-renter competition from ownership alternatives, all of which support stable leasing and pricing. Based on CRE market data from WDSuite, the surrounding area posts elevated home values and strong service and knowledge-economy employment access—conditions that historically sustain multifamily demand and help support rent collections and retention.
The 1987 vintage suggests modest capital planning and selective renovations can defend positioning versus newer stock and capture value-add upside through interior updates and community amenities. Looking ahead, 3-mile demographics indicate growth in household counts even as household sizes trend smaller, a dynamic that can expand the tenant base and support occupancy stability over time.
- High neighborhood occupancy and strong incomes support rent durability
- Elevated ownership costs reinforce renter reliance on multifamily housing
- Proximity to diverse employers underpins demand and retention
- 1987 vintage offers value-add through targeted renovations and amenity upgrades
- Risks: owner-leaning tenure and limited park density require focused leasing and amenity strategy