| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 76th | Best |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 824 Chinquapin Ave, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1984 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | $2,650,000 |
| Buyer | OWNERSHIP NAME INFORMATION |
| Seller | --- |
824 Chinquapin Ave Carlsbad Multifamily Investment
This 25-unit property built in 1984 benefits from Carlsbad's high-income rental market and strong neighborhood fundamentals. Commercial real estate analysis shows the area maintains above-average amenity access and educational quality within the San Diego metro.
The property sits in an urban core neighborhood rated "A" overall, ranking in the top quartile among San Diego metro's 621 neighborhoods. Demographics within a 3-mile radius show a median household income of $111,404 with strong income growth of 31.6% over five years, supporting rental demand from quality tenants.
Built in 1984, this vintage aligns with the neighborhood's 1988 average construction year, indicating potential value-add opportunities through strategic renovations while maintaining competitive positioning. The area shows 54.3% of housing units are renter-occupied, ranking in the top decile nationally, which reinforces sustained multifamily demand.
Neighborhood amenities rank in the 63rd percentile nationally, with exceptional park density (100th percentile) and strong restaurant access (98th percentile). The area maintains a 3.0 average school rating and benefits from high grocery store density, supporting family-oriented tenant retention.
Current median contract rents of $2,368 reflect the area's premium positioning, though occupancy rates of 82.8% suggest some market softening that may create acquisition opportunities while maintaining long-term fundamentals.
Crime metrics show mixed trends for investor consideration. Property offense rates rank 295th among 621 San Diego metro neighborhoods, placing the area below median for property crime. However, property crime has declined 33.6% year-over-year, ranking in the top quartile for improvement trends.
Violent crime rates place the neighborhood in the 10th percentile nationally, indicating elevated levels relative to other markets. Investors should factor security considerations into property management strategies and tenant screening processes.
The surrounding employment base includes major corporate offices within commuting distance, supporting workforce housing demand from professional tenants.
- Nrg Energy — energy services (2.1 miles)
- Gilead Sciences — biotechnology (4.6 miles)
- Qualcomm — technology HQ (19.3 miles)
- Celgene Corporation — pharmaceuticals (19.7 miles)
This 25-unit property offers exposure to Carlsbad's affluent rental market with median household incomes of $111,404 and projected 33% income growth through 2028. The 1984 construction year presents value-add renovation opportunities while benefiting from an established neighborhood with strong amenity access and educational quality. Multifamily property research from WDSuite indicates the area maintains premium rent levels of $2,368 median, though current 82.8% occupancy suggests potential for strategic acquisition pricing.
Demographic projections show 17% population growth and 37.5% household formation through 2028, expanding the potential tenant base significantly. The neighborhood's 54.3% rental tenure share ranks in the top decile nationally, indicating sustained multifamily housing demand from the local workforce.
- High-income tenant base with $111,404 median household income
- Strong demographic growth projections through 2028
- Value-add potential from 1984 vintage requiring strategic updates
- Premium rent positioning at $2,368 median contract rent
- Risk consideration: Current occupancy softness may impact near-term cash flow