| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 60th | Fair |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13142 Carriage Rd, Poway, CA, 92064, US |
| Region / Metro | Poway |
| Year of Construction | 1978 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | $1,200,000 |
| Buyer | OWNERSHIP NAME INFORMATION |
| Seller | --- |
13142 Carriage Rd Poway Multifamily Investment
This 25-unit property benefits from neighborhood occupancy rates near 98% and strong rental demand fundamentals, according to CRE market data from WDSuite.
The Poway neighborhood ranks in the top quartile nationally for housing metrics, reflecting strong residential fundamentals that support multifamily investment. With 97.9% neighborhood-level occupancy and median rents of $1,774, local rental demand remains stable compared to metro averages. The area's 46% share of renter-occupied housing units provides a substantial tenant base for multifamily properties.
Demographics within a 3-mile radius show household income growth of 33% over five years, reaching a median of $143,048. Population forecasts indicate continued household formation, with projections showing a 31% increase in total households by 2028, supporting rental demand expansion. The rent-to-income ratio of 0.19 suggests manageable affordability for area renters, which can support lease retention and renewal rates.
Built in 1978, this property predates the neighborhood's average construction year of 1998, indicating potential value-add opportunities through strategic capital improvements. The area's amenity density includes strong restaurant and grocery access, with rankings in the 88th percentile nationally for both categories, enhancing tenant appeal and retention potential.
Crime metrics for this Poway neighborhood show mixed patterns when compared to regional and national benchmarks. Property crime rates rank in the lower third among the San Diego metro's 621 neighborhoods, though recent trends show a 7.7% year-over-year decline in property offenses. Violent crime rates similarly rank below metro averages but have also decreased by 8.4% over the past year, suggesting improving conditions for the area.
The property benefits from proximity to established corporate employers that provide workforce housing demand, including technology, logistics, and energy sector offices within commuting distance.
- Sysco — food service distribution (1.2 miles)
- Qualcomm — technology and telecommunications (8.8 miles)
- Qualcomm — technology headquarters (9.1 miles) — HQ
- L-3 Telemetry & RF Products — defense and aerospace (10.2 miles)
- Celgene Corporation — biotechnology (10.4 miles)
This 1978-built property offers value-add potential in a neighborhood with strong occupancy fundamentals and growing household formation. The area's 97.9% occupancy rate and stable rent growth provide a foundation for consistent cash flow, while the property's vintage relative to neighborhood averages suggests opportunities for strategic improvements to capture additional rent premiums.
Demographic trends within the 3-mile radius support long-term rental demand, with household income growth of 33% over five years and projections showing 31% household increase by 2028. The manageable rent-to-income ratio of 0.19 indicates affordability that can support lease renewals and occupancy stability.
- Neighborhood occupancy near 98% indicates strong rental demand stability
- Growing household formation with 31% projected increase by 2028
- Value-add potential with 1978 construction predating area average
- Risk consideration: Crime metrics rank below metro median requiring ongoing monitoring