| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Fair |
| Demographics | 83rd | Best |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 639 N Vulcan Ave, Encinitas, CA, 92024, US |
| Region / Metro | Encinitas |
| Year of Construction | 2013 |
| Units | 20 |
| Transaction Date | 2010-11-30 |
| Transaction Price | $2,300,000 |
| Buyer | SHEA HOMES LIMITED PARTNERSHIP |
| Seller | VULCAN TOWNHOMES LLC |
639 N Vulcan Ave Encinitas Multifamily in High-Cost Market
Elevated ownership costs and strong amenity access support durable renter demand in the immediate neighborhood even as occupancy trends vary by submarket, according to WDSuite’s CRE market data.
The property at 639 N Vulcan Ave sits in an Urban Core pocket of Encinitas with an A-rated neighborhood profile among 621 San Diego metro neighborhoods. Parks and dining density are notable strengths (parks and restaurants rank in the top quartile nationally), while pharmacies and cafes are comparatively sparse. Average public school ratings trend favorably versus national peers, which can aid retention for family renters.
Construction year is 2013, newer than the neighborhood’s older housing stock (average vintage 1982). Newer product tends to show better competitive positioning versus older inventory, though standard capital planning for systems and common areas remains relevant over the hold period.
Neighborhood-level occupancy is below the metro median (ranked 567 out of 621), yet the renter-occupied share around the area is substantial (approximately 42% of housing units are renter-occupied). This combination points to a meaningful tenant base alongside leasing execution requirements to sustain stabilization. Elevated home values (top national percentile) and high median rents indicate a high-cost ownership market that can reinforce reliance on multifamily housing and support pricing power where product quality and management are strong.
Within a 3-mile radius, demographics show stable-to-mixed demand signals: population has edged down slightly in recent years, but household counts are projected to rise as average household size trends lower. This shift generally expands the renter pool and can support occupancy stability for well-positioned assets.
Safety trends are mixed compared with broader benchmarks. The neighborhood’s crime rank is 364 out of 621 San Diego metro neighborhoods, indicating conditions below the metro median. Nationally, safety percentiles suggest higher property and violent offense rates than many U.S. neighborhoods, though the most recent year shows a slight improvement in estimated property offenses alongside a small uptick in violent offenses. Investors should underwrite to local operating practices (lighting, access control, and resident screening) and monitor trends over time rather than relying on block-level assumptions.
Proximity to diversified employers supports commute convenience and a stable renter base, led by energy, life sciences, and technology anchors noted below.
- NRG Energy — energy services (4.6 miles)
- Gilead Sciences — biopharma offices (10.1 miles)
- Qualcomm — technology & wireless (12.8 miles) — HQ
- Celgene Corporation — biopharma offices (13.2 miles)
- Sempra Energy — utilities & infrastructure (24.9 miles) — HQ
This 20-unit, 2013-vintage asset offers relative competitiveness versus older neighborhood stock, pairing modern construction with large average unit sizes that can bolster renter retention. The immediate area reflects a high-cost ownership market with top-tier home values and elevated median rents; based on commercial real estate analysis from WDSuite, these dynamics typically sustain renter reliance on quality multifamily product. While neighborhood occupancy trends run below the metro median, a meaningful share of renter-occupied housing and strong amenity access (notably parks and dining) support durable demand for well-managed assets.
Within a 3-mile radius, households are expected to increase even as population edges lower—implying smaller household sizes and a broader tenant base over time. Investors should underwrite to operational execution, given softer neighborhood occupancy and mixed safety indicators, while leaning into the property’s newer vintage and location fundamentals to capture pricing power where renovations and service levels justify it.
- 2013 construction competes well against older local stock, aiding lease-up and retention
- High-cost ownership market supports sustained multifamily demand and pricing power
- 3-mile household growth with smaller household sizes expands the renter pool
- Parks and dining density enhance livability and support longer tenancy
- Risks: neighborhood occupancy below metro median and mixed safety trends require active management