| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 87th | Best |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 924 Encinitas Blvd, Encinitas, CA, 92024, US |
| Region / Metro | Encinitas |
| Year of Construction | 1986 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | $8,700,000 |
| Buyer | OWNERSHIP NAME INFORMATION |
| Seller | --- |
924 Encinitas Blvd Multifamily Investment, Encinitas CA
Neighborhood renter demand is supported by a high-cost ownership market and stable low-90s occupancy, according to WDSuite’s CRE market data. This positions the asset for steady leasing while careful revenue management remains important.
Encinitas is an inner-suburb location with an A+ neighborhood rating and ranks 20th out of 621 San Diego metro neighborhoods, indicating strong fundamentals competitive among San Diego-Chula Vista-Carlsbad submarkets. Local occupancy trends sit in the low 90s, signaling demand resilience and supporting baseline stability for multifamily assets.
Daily-needs access is a strength: grocery and pharmacy density score in the mid-to-high 90th national percentiles, and restaurants are similarly abundant. Parks access also rates well nationally. Café density is thinner, but the area’s broader amenity slate offsets this for most renter profiles. These features support retention and reduce reliance on long commutes for essentials.
Construction vintage in the neighborhood averages early-1980s; a 1986 asset is slightly newer than the local mean, which can help competitive positioning versus older stock, though investors should still anticipate modernization of systems and common areas as part of capital planning.
Tenure patterns reflect a meaningful renter base: approximately two-fifths of housing units are renter-occupied at the neighborhood level. For investors, this indicates depth in the tenant pool and supports leasing velocity, with pricing power influenced by income levels and competing Class B/C options.
Within a 3-mile radius, demographics show a high-income household base and a modest dip in population in recent years, with forecasts pointing to renewed population growth by 2028 and a reduction in average household size. The combination implies a larger pool of smaller households, which typically supports multifamily demand and occupancy stability. Elevated home values relative to incomes characterize a high-cost ownership market, reinforcing renter reliance on multifamily housing and aiding lease retention.
Safety metrics compare less favorably versus many U.S. neighborhoods: the area sits below national medians on several indicators, and its crime rank is toward the higher end within the San Diego metro (495th of 621 neighborhoods). That said, recent data show a modest year-over-year decline in property-related incidents, suggesting some stabilization. Investors often address this risk through lighting, access control, and community engagement to support resident sentiment and retention.
The North County/UTC employment base provides diverse, well-paying jobs that support renter demand and commute convenience for residents, notably in energy, semiconductors, and life sciences. Nearby employers include NRG Energy, Qualcomm, Gilead Sciences, Celgene, and Sysco.
- NRG Energy — energy (6.1 miles)
- Qualcomm — semiconductors (11.2 miles) — HQ
- Gilead Sciences — biotechnology (11.2 miles)
- Celgene Corporation — biopharma (11.6 miles)
- Sysco — food distribution (14.8 miles)
924 Encinitas Blvd benefits from a high-cost homeownership environment, deep amenities, and a renter concentration that supports steady leasing. Neighborhood occupancy trends remain in the low 90s and restaurants, grocery, and pharmacy access rank strong nationally, underpinning retention. According to CRE market data from WDSuite, these market features tend to support consistent demand even as affordability pressures require careful lease management.
Built in 1986, the property is slightly newer than the neighborhood average, offering a competitive edge versus older stock while still presenting value-add and modernization opportunities. Within a 3-mile radius, forecasts point to renewed population growth and smaller household sizes by 2028, which typically expands the renter pool and supports occupancy stability; elevated ownership costs in Encinitas further reinforce reliance on multifamily housing.
- Location quality: A+ neighborhood, strong amenities, and commuting access support retention
- Demand drivers: high-cost ownership market sustains multifamily renter reliance
- Operations: low-90s occupancy and diversified nearby employers support leasing stability
- Value-add potential: 1986 vintage may benefit from targeted renovations and systems upgrades
- Risks: below-average safety metrics and affordability pressure require active asset and lease management