| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 82nd | Best |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3969 Adams St, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 2000 |
| Units | 74 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3969 Adams St Carlsbad 74-Unit Multifamily
Neighborhood-level occupancy is solid and ownership costs are elevated, supporting durable renter demand around Carlsbad’s inner suburbs, according to WDSuite’s CRE market data. With a 2000 vintage, the asset should compare well against older nearby stock while leaving room for targeted modernization.
Neighborhood and livability context
The property is situated in an Inner Suburb location within the San Diego–Chula Vista–Carlsbad metro, where the neighborhood ranks 76 out of 621 metro neighborhoods, placing it in the top quartile locally for overall quality. Parks and family services are a relative strength, with park access and childcare density performing in the top decile nationally, while grocery and restaurant access sit above national medians. Average school ratings are strong (near the top of national comparisons), which can bolster long-term leasing appeal for family-oriented renters.
Rents in the immediate neighborhood benchmark high versus national levels, and the median home value is elevated. In investor terms, a high-cost ownership market can reinforce reliance on multifamily, supporting pricing power and lease retention when managed carefully. Neighborhood occupancy is above the national median, a constructive backdrop for maintaining stabilized performance. Based on multifamily property research from WDSuite, the neighborhood’s renter-occupied share of housing units is lower than many urban cores, suggesting the immediate area is more owner-heavy; however, the broader 3-mile radius shows a balanced tenure mix, helping sustain a deeper tenant base for leasing.
Demographic statistics aggregated within a 3-mile radius indicate recent growth in both population and households, with projections pointing to additional population growth and a sizable increase in households over the next five years. This expansion implies a larger tenant base and supports occupancy stability for well-managed assets. Household incomes are high in the area, which can support rent levels, while owners’ elevated entry costs further solidify the role of rentals for many households.
Vintage matters for competitive positioning: with a 2000 construction year versus a neighborhood average from the late 1980s, the asset should be relatively competitive against older stock. Investors should still underwrite routine modernization and system refreshes typical of 20+ year assets to preserve positioning and support rent growth.
Safety indicators for the neighborhood are mixed compared with national benchmarks. Overall conditions sit below the national median for safety (national percentile in the mid-30s), and violent incidents benchmark in a lower national percentile. At the same time, estimated property offense rates have improved year over year, with a measurable decline recently, which is a constructive trend to monitor.
For underwriting, this suggests prudent security measures and resident engagement strategies may be warranted, while the recent improvement in property offenses offers a positive directional signal. Investors commonly validate conditions with local comps and management reports as part of standard diligence.
Proximity to energy, biotech, and technology employers supports a diversified renter base and commute convenience for residents, with near-term demand anchored by nearby offices and regional corporate hubs listed below.
- NRG Energy — energy (2.1 miles)
- Gilead Sciences — biotech (4.5 miles)
- Qualcomm — telecom & semiconductors (19.3 miles) — HQ
- Celgene Corporation — biotech (19.7 miles)
- Sysco — food distribution (22.0 miles)
3969 Adams St offers scale at 74 units in a high-cost ownership market, where elevated home values tend to sustain reliance on rentals and support pricing power. Neighborhood occupancy trends sit above national medians, and 3-mile demographic statistics indicate population growth and a notable increase in households, which points to a larger tenant base and supports leasing stability. According to WDSuite’s commercial real estate analysis, the neighborhood’s amenities and school quality compare favorably at the national level.
The 2000 construction year positions the asset competitively versus older local stock, with an opportunity to capture value through targeted renovations and system updates typical of 20+ year properties. While the immediate neighborhood skews more owner-occupied, the broader 3-mile area shows a balanced tenure mix, helping deepen the pool of prospective renters and supporting retention for well-managed operations.
- High-cost ownership landscape reinforces rental demand and pricing power
- Above-median neighborhood occupancy supports stabilized performance
- 3-mile population and household growth expand the tenant base
- 2000 vintage provides competitive positioning with potential renovation upside
- Risk: Safety benchmarks are below national medians; prudent management and security planning recommended