| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 88th | Best |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 480 S El Camino Real, Encinitas, CA, 92024, US |
| Region / Metro | Encinitas |
| Year of Construction | 1987 |
| Units | 44 |
| Transaction Date | 1995-06-05 |
| Transaction Price | $5,800,000 |
| Buyer | PACIFICA SL ENCINITAS LP |
| Seller | NHP SECURED INC |
480 S El Camino Real Encinitas Multifamily Opportunity
Positioned in a high-income coastal suburb with steady neighborhood occupancy, this 44-unit asset benefits from strong renter spending power and tight for-sale housing, according to WDSuite’s CRE market data.
Encinitas is a suburban coastal node rated A and competitive among San Diego neighborhoods (ranked 60 out of 621). Local amenities are a draw: restaurants and cafes score in higher national percentiles, parks and grocery access are solid, and schools average around 4 out of 5 — factors that support lease retention and lifestyle-driven demand.
Rents in the neighborhood are among the higher tiers nationally while occupancy is healthy, reinforcing pricing discipline rather than rapid lease-up plays. The renter-occupied share within the immediate neighborhood is relatively low, signaling a more ownership-oriented area; for investors, that typically means a smaller but higher-income renter pool and potential for stickier tenancy when product matches expectations.
Within a 3-mile radius, demographics indicate a sizable population base with high median and mean household incomes, and a renter concentration around one-third of housing units. Forward-looking data points to modest population growth and a projected increase in households alongside slightly smaller average household sizes by 2028, expanding the pool of potential renters and supporting occupancy stability for well-positioned properties.
Home values in the neighborhood are elevated versus national benchmarks. In investor terms, a high-cost ownership market often sustains multifamily demand and can bolster renewal capture when communities deliver convenience, quality maintenance, and professional management.
Safety indicators are mixed. The neighborhood’s crime standing sits below the metro average and tracks weaker than the national median, but recent data shows a notable year-over-year decline in violent incidents, which is a constructive trend for long-term perception.
Compared with neighborhoods nationwide, current readings align closer to the lower safety percentiles; however, the one-year improvement trajectory suggests risk is easing rather than worsening. Investors should underwrite with realistic expectations for security measures and resident communications, while recognizing that trend momentum has been favorable.
Proximity to diversified employers supports a stable renter base seeking commute convenience, including energy, wireless/semiconductors, and life sciences. The list below highlights nearby nodes most likely to influence leasing.
- NRG Energy — energy (6.8 miles)
- Qualcomm — wireless & semiconductors (10.4 miles) — HQ
- Celgene Corporation — biotechnology (11.0 miles)
- Gilead Sciences — biotechnology (11.8 miles)
- Sysco — food distribution (13.9 miles)
Built in 1987, this 44-unit community is newer than much of the surrounding housing stock, offering relative competitiveness versus older product while leaving room for targeted modernization to enhance rent positioning. High neighborhood incomes, elevated home values, and strong school and amenity profiles underpin steady renter demand, while neighborhood occupancy remains healthy, according to commercial real estate analysis from WDSuite. Within a 3-mile radius, projected household growth and slightly smaller household sizes point to a larger tenant base for well-managed, right-sized units.
Neighborhood rents sit in upper national tiers and the local renter pool skews higher income, supporting pricing power for renovated or well-maintained assets. Key underwriting considerations include the area’s lower renter-occupied share and a safety profile that, while improving, still trails national leaders — factors best addressed through thoughtful capex, operating practices, and asset positioning.
- 1987 vintage offers competitive positioning versus older stock, with selective upgrades to drive rent.
- High-income coastal location and strong schools support retention and willingness to pay.
- Within 3 miles, projected household growth and smaller household sizes expand the tenant base.
- Elevated ownership costs reinforce sustained renter reliance on quality multifamily.
- Risks: lower neighborhood renter concentration and a safety profile below national leaders require prudent operations.