| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 87th | Best |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1317 Via Terrassa, Encinitas, CA, 92024, US |
| Region / Metro | Encinitas |
| Year of Construction | 1986 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | $16,000,000 |
| Buyer | URSCHEL LABORATORIES INC |
| Seller | --- |
1317 Via Terrassa, Encinitas CA Multifamily Investment
Positioned in a high-income North County submarket where elevated ownership costs sustain rental demand, this asset benefits from steady neighborhood occupancy and a deep professional renter base, according to WDSuite’s CRE market data.
Encinitas sits within the San Diego–Chula Vista–Carlsbad metro and this neighborhood ranks 20th out of 621 metro neighborhoods, placing it firmly in the top quartile locally. The area is classified as an Inner Suburb with strong livability drivers: high grocery and pharmacy access (both high national percentiles) and abundant restaurants, though cafe density is comparatively limited. These amenity dynamics support resident convenience and help sustain leasing velocity.
Neighborhood occupancy is measured at the neighborhood level and remains in the low-90s, supporting income stability for multifamily. Renter-occupied housing comprises roughly two-fifths of units, indicating a meaningful renter base for absorption and renewals rather than a purely ownership-driven enclave. Construction-year patterns skew slightly older across the neighborhood, and this property’s 1986 vintage is a bit newer than the local average of 1982, offering competitive positioning versus older stock while leaving room for targeted modernization.
Within a 3-mile radius, demographics reflect a high-earning population profile with a large share of residents holding bachelor’s degrees (top national percentile). Recent years show a modest population dip, but projections indicate population growth and a notable increase in households over the next five years, implying smaller household sizes and a larger tenant base for multifamily. These trends generally support occupancy stability and mid- to upper-tier renter demand.
Home values in the neighborhood are elevated (top national percentile), which reinforces reliance on rental housing and can underpin pricing power. At the same time, rent-to-income metrics suggest some affordability pressure to monitor, making thoughtful lease management and renewal strategies important for retention. Overall housing indicators land above national averages, and the neighborhood’s balanced renter concentration supports durable multifamily demand, based on commercial real estate analysis from WDSuite.
Safety conditions should be evaluated with care. Compared with neighborhoods nationwide, overall crime metrics track below the national median for safety (national percentiles indicate relatively higher incident rates). Within the San Diego–Chula Vista–Carlsbad metro, the neighborhood’s crime rank sits in the lower tier when compared against 621 neighborhoods, signaling that investors should underwrite appropriate security and operational practices.
Recent trend signals are mixed: property offenses have edged down year over year, while violent offense estimates have increased. These are neighborhood-level indicators and not property-specific. Prudent measures such as lighting, access control, and resident engagement can help support tenant retention and protect operating performance over time.
Proximity to diversified employment nodes supports renter demand and renewal propensity, with large corporate offices within a commutable radius including NRG Energy, Qualcomm, Gilead Sciences, Celgene Corporation, and Sysco.
- NRG Energy — energy (6.1 miles)
- Qualcomm — technology R&D (11.1 miles) — HQ
- Gilead Sciences — biotech (11.2 miles)
- Celgene Corporation — biotech (11.6 miles)
- Sysco — food distribution (14.5 miles)
This 72-unit asset in Encinitas aligns with stable neighborhood fundamentals: solid occupancy at the neighborhood level, elevated home values that reinforce rental demand, and a well-educated, high-income renter pool. Built in 1986, it is slightly newer than the neighborhood average and may compete well against older stock while benefiting from selective value-add upgrades to interiors and building systems. According to CRE market data from WDSuite, local amenities are strong and renter concentration is meaningful, supporting steady leasing and renewal prospects.
Key considerations include rent-to-income affordability pressures and neighborhood-level safety metrics that warrant prudent underwriting and operational focus. With careful capital planning and targeted improvements, the property can leverage location fundamentals and demographic depth to support durable cash flow and long-term value.
- Location strength: top-quartile neighborhood within the San Diego metro supports demand durability.
- Renter demand: elevated ownership costs and strong incomes sustain a deep tenant base.
- Value-add path: 1986 vintage allows targeted renovations to enhance competitiveness and rents.
- Risks: affordability pressure and neighborhood safety indicators require disciplined leasing and security practices.