| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 76th | Best |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 350 Chinquapin Ave, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1975 |
| Units | 25 |
| Transaction Date | 2024-03-27 |
| Transaction Price | $11,500,000 |
| Buyer | SJY PROPERTIES LLC |
| Seller | CAMELOT TERRACE LLC |
350 Chinquapin Ave Carlsbad Multifamily Investment
This 25-unit property built in 2000 sits in an A-rated neighborhood where renter-occupied units comprise 54% of housing stock and median contract rents reach $2,368 according to CRE market data from WDSuite.
Located in Carlsbad's urban core, this neighborhood ranks in the top quartile among 621 San Diego metro neighborhoods for overall investment fundamentals with an A rating. The area maintains strong renter demand with 54% of housing units occupied by tenants, ranking in the 91st percentile nationally. Median contract rents of $2,368 place the neighborhood in the 96th percentile nationwide, reflecting sustained pricing power in this coastal market.
Demographics within a 3-mile radius support multifamily demand, with 48,527 residents and median household income of $110,140. The area attracts educated professionals, with 33% of adults holding bachelor's degrees ranking in the 88th percentile nationally. Population growth of 1.6% over five years indicates steady expansion of the tenant base, while forecasts project 14% population growth through 2028, supporting continued rental demand.
The property's 2000 construction year aligns with the neighborhood average of 1988, positioning it as newer stock that may require less immediate capital expenditure compared to older vintage properties. High median home values of $1.14 million reinforce rental demand by keeping many households in the multifamily market. However, neighborhood occupancy of 83% ranks in the lower quartile nationally, requiring attention to lease management and tenant retention strategies.
Amenity density supports tenant appeal with 32 restaurants per square mile ranking in the 98th percentile nationally and extensive park access ranking in the 100th percentile. The area offers 4 grocery stores per square mile, though childcare and pharmacy access are limited. School ratings average 3.0 out of 5, providing competitive but not exceptional educational amenities for family-oriented tenants.
Crime metrics present a mixed profile for this Carlsbad neighborhood. Property offense rates of 1,356 per 100,000 residents rank in the lower third among 621 metro neighborhoods, though the trend shows improvement with a 34% decrease over the past year ranking in the 77th percentile for crime reduction. Violent crime rates of 492 per 100,000 residents place the area in the bottom 10th percentile nationally, indicating elevated concerns relative to national averages.
Investors should factor these safety metrics into tenant screening, property management protocols, and security considerations. The improving property crime trend suggests positive momentum, while violent crime levels warrant ongoing monitoring and may influence tenant demographics and retention patterns.
The Carlsbad area benefits from proximity to major corporate employers spanning energy, biotechnology, and telecommunications, providing workforce housing opportunities for professional tenants.
- Nrg Energy — energy services (2.2 miles)
- Gilead Sciences — biotechnology (4.9 miles)
- Qualcomm — telecommunications technology (19.3 miles) — HQ
- Celgene Corporation — pharmaceutical (19.7 miles)
- Sempra Energy — utility services (31.3 miles) — HQ
This 25-unit Carlsbad property offers exposure to a high-rent coastal market with strong demographic fundamentals. The neighborhood's A rating and top-quartile ranking among 621 metro neighborhoods reflects sustained investor appeal, while median rents of $2,368 demonstrate significant pricing power. The property's 2000 vintage provides a balance of modern amenities without immediate major capital needs, positioning it competitively within the local housing stock.
Population growth of 14% projected through 2028 supports expanding rental demand, while the area's 33% bachelor's degree attainment attracts stable professional tenants. However, multifamily property research indicates neighborhood occupancy of 83% requires active lease management to optimize performance. High home values exceeding $1.1 million reinforce rental demand by keeping many households in the multifamily market, though investors should monitor rent-to-income ratios for affordability pressure.
- A-rated neighborhood ranking in top quartile among San Diego metro areas
- Strong rent levels of $2,368 median reflecting coastal market premium
- 14% population growth projected through 2028 expanding tenant base
- 2000 construction provides modern positioning without immediate capital needs
- Risk factor: Below-average neighborhood occupancy requires active lease management