| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 77th | Best |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 454 Requeza St, Encinitas, CA, 92024, US |
| Region / Metro | Encinitas |
| Year of Construction | 1987 |
| Units | 102 |
| Transaction Date | 2000-07-06 |
| Transaction Price | $3,913,000 |
| Buyer | ENCINITAS TERRACE APARTMENT HOMES LLC |
| Seller | ENFIELD JONES ARTHUR |
454 Requeza St Encinitas Multifamily Investment Opportunity
High-cost home values and strong neighborhood amenities point to durable renter demand and pricing power, according to WDSuite’s CRE market data.
Encinitas’ inner-suburban setting delivers daily convenience that supports leasing: grocery and restaurant density ranks in the upper national percentiles, and parks and pharmacies are also well represented. Average school ratings trend above most U.S. neighborhoods, which helps retention among family renters and move-up professionals.
Neighborhood occupancy is broadly healthy and has inched higher over the past five years, indicating stable absorption. The share of renter-occupied housing units is meaningful for an owner-leaning coastal market, providing a deep enough tenant base to support a 102-unit asset while keeping exposure diversified across household types.
Elevated home values relative to income define this location and reinforce reliance on multifamily housing, supporting lease-up and renewal prospects in a market where ownership costs remain high. At the same time, median contract rents trend toward the higher end of regional ranges, so operators should balance revenue growth ambitions with affordability management to protect retention.
The property’s 1987 vintage is newer than the neighborhood’s typical 1970s-era stock, offering competitive positioning versus older assets. Select modernization and systems updates can further differentiate the asset without the heavier capital plan often required for pre-1980s buildings.
Demographics aggregated within a 3-mile radius show recent population softness but an outlook for modest population growth and a projected increase in households, which can expand the renter pool and support occupancy stability. Household incomes are comparatively strong, which can underpin rent collections while requiring careful product-market fit and amenity alignment.
Safety indicators for the neighborhood sit below metro and national averages. The neighborhood’s crime rank is 448th among 621 metro neighborhoods, placing it below the metro median. Nationally, the area falls into lower percentiles for both violent and property offenses; however, estimated property offenses have improved year over year with a decline reported in the latest data. Investors should underwrite with prudent security, lighting, and operational protocols, and monitor ongoing trendlines rather than block-level snapshots.
Proximity to diversified employers supports renter demand from professionals seeking short commutes, including energy services, telecommunications, and life sciences. Notable nearby employers include NRG Energy, Qualcomm, Gilead Sciences, Celgene, and Sysco.
- NRG Energy — energy services (5.96 miles)
- Qualcomm — telecommunications R&D (11.3 miles) — HQ
- Gilead Sciences — biopharma (11.3 miles)
- Celgene — biopharma (11.7 miles)
- Sysco — foodservice distribution (15.3 miles)
454 Requeza St offers exposure to a high-income, ownership-costly coastal enclave where renter demand is sustained by elevated home values and strong local amenities. Neighborhood occupancy remains solid, with a meaningful concentration of renter-occupied units supporting depth of demand for a 102-unit community. According to CRE market data from WDSuite, rent levels sit on the higher end regionally, positioning operators for revenue management while keeping an eye on retention.
Built in 1987, the asset is newer than much of the surrounding 1970s stock, allowing competitive positioning with targeted upgrades rather than heavy rehabilitation. Within a 3-mile radius, recent population softness is offset by projected household growth, which points to a larger tenant base over the medium term. Key risks include below-average safety metrics and premium rent levels that warrant disciplined leasing and resident experience strategies.
- High-cost ownership market reinforces reliance on rentals, supporting pricing power and renewals
- Solid neighborhood occupancy with a meaningful renter-occupied share underpins demand stability
- 1987 vintage is competitive versus older local stock, with value-add upside via modernization
- Diverse nearby employers bolster leasing from professionals seeking commute convenience
- Risks: below-average safety metrics and premium rents require prudent operations and retention focus