| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 76th | Best |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3568 Harding St, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 2013 |
| Units | 50 |
| Transaction Date | 2011-12-13 |
| Transaction Price | $3,325,000 |
| Buyer | TAVARUA SENIOR APARTMENTS LP |
| Seller | HARDING 3568 LLC |
3568 Harding St, Carlsbad CA Multifamily Investment
Newer 2013 construction in a high-cost ownership market supports renter demand and competitive positioning, according to WDSuite’s CRE market data. Neighborhood occupancy metrics reflect the broader area, not this property, and point to steady leasing potential with thoughtful rent and retention management.
Positioned in Carlsbad’s Urban Core, the property benefits from a dense amenity base that supports resident retention. Restaurants and cafes rank in the top quartile nationally, and grocery access is similarly strong, while parks coverage sits at the top tier nationwide. Pharmacy and childcare options are thinner locally, which may modestly influence certain renter segments, but the overall amenity mix remains favorable for multifamily.
At the neighborhood level, renter-occupied housing accounts for a majority share, indicating a deep tenant base for multifamily operators. Median home values are elevated relative to national benchmarks, which reinforces reliance on rental housing and can support pricing power for well-maintained product. Lease management should still weigh rent-to-income considerations to protect renewal rates.
Construction in the immediate area skews older on average, while this asset’s 2013 vintage positions it as comparatively newer stock versus the local median year built. That recency can reduce near-term capital needs and enhance competitiveness against older properties, though standard systems and common-area refresh planning remains prudent over a hold period.
Neighborhood occupancy is below national norms but has trended upward over the past five years, suggesting improving stability. Within a 3-mile radius, population and household counts have increased and are projected to continue growing, expanding the prospective renter pool and supporting long-run demand, based on CRE market data from WDSuite.
Safety metrics for the neighborhood point to higher crime levels than national averages, with ranks toward the higher-crime side of the San Diego-Chula Vista-Carlsbad metro (crime rank 186 out of 621 metro neighborhoods). National percentiles indicate relatively weaker standing; however, year-over-year trends show meaningful improvement in property offenses, which supports a cautiously constructive view on near-term conditions.
Investors should underwrite with pragmatic assumptions: emphasize lighting, access control, and resident engagement, and monitor ongoing trend data. The trend improvement is a positive signal, but comparative positioning versus the metro and nation still warrants conservative operating protocols.
Proximity to a diverse employer base in energy, biotech, and technology underpins workforce housing demand and commute convenience for residents, supporting leasing stability for multifamily operators. The nearby roster includes NRG Energy, Gilead Sciences, Qualcomm, Celgene, and Sempra Energy.
- NRG Energy — energy (2.5 miles)
- Gilead Sciences — biotech (4.4 miles)
- Qualcomm — semiconductor & telecom (19.4 miles)
- Celgene Corporation — biotech (20.1 miles)
- Sempra Energy — energy (31.8 miles) — HQ
This 50-unit, 2013-vintage asset offers competitive positioning versus older neighborhood stock and is supported by a deep renter base in a high-cost ownership market. Elevated home values bolster multifamily demand, while strong amenity access and a growing 3-mile resident and household base expand the tenant funnel. According to commercial real estate analysis from WDSuite, neighborhood occupancy has improved over the past five years, suggesting firmer leasing conditions with disciplined renewal and pricing strategies.
Investor focus should include rent-to-income sensitivity and standard capital planning for a 2010s asset, alongside prudent operating protocols given neighborhood safety positioning. With thoughtful asset management, the combination of newer construction, location fundamentals, and employer proximity supports a durable, long-term hold thesis.
- 2013 vintage provides competitive edge versus older local inventory and may reduce near-term capex needs
- High-cost ownership market reinforces renter reliance and supports pricing power for well-run assets
- Dense amenities and nearby employers support tenant demand and retention
- Neighborhood occupancy trending upward, aiding leasing stability per WDSuite data
- Risks: rent-to-income pressure, below-national safety standing, and need for disciplined renewal strategy