| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Poor |
| Demographics | 93rd | Best |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 764 S Nardo Ave, Solana Beach, CA, 92075, US |
| Region / Metro | Solana Beach |
| Year of Construction | 1975 |
| Units | 32 |
| Transaction Date | 2005-01-01 |
| Transaction Price | $6,550,000 |
| Buyer | Solana Pointe- Mark Gosselin |
| Seller | Saddleridge, LLC |
764 S Nardo Ave Solana Beach Multifamily Opportunity
Positioned in an affluent, owner-tilted Solana Beach pocket, the asset benefits from strong neighborhood fundamentals and high renter willingness to pay, according to WDSuite’s CRE market data. Expect durable demand from lifestyle renters drawn by schools, amenities, and proximity to major employment nodes.
The property sits in an Inner Suburb neighborhood rated A and ranked 38 of 621 within the San Diego–Chula Vista–Carlsbad metro, placing it well Above metro median and competitive versus peer submarkets. Neighborhood metrics referenced here reflect the surrounding area, not the property itself.
Quality-of-life drivers are a clear strength: the neighborhood’s average school rating sits at the top of the metro (1 of 621) and in the top percentile nationally, supporting family-oriented renter demand and lease retention. Amenity access is robust, with restaurants and cafés among the highest concentrations metro-wide (both top-tier nationally) and exceptional park access, while pharmacies are plentiful; immediate grocery density is thinner, so residents typically draw from nearby corridors.
Ownership costs are elevated (home values and value-to-income among the highest nationally), which reinforces reliance on rental housing for many households and can sustain pricing power when product quality aligns with expectations. At the same time, neighborhood rent levels are also high, so operators should manage affordability pressure and renewal strategies accordingly.
Tenure patterns point to an owner-heavy area: the share of renter-occupied housing units in the neighborhood is comparatively low, concentrating multifamily demand among lifestyle renters and professionals seeking proximity to coastal amenities and jobs. Neighborhood occupancy data indicate some slack relative to metro leaders, so lease-up and competitive positioning merit attention; however, within a 3-mile radius, forecasts show population growth and a sizable increase in households over the next five years, with slightly smaller household sizes—expanding the tenant base and supporting occupancy stability as new renters enter the market based on CRE market data from WDSuite.
Safety indicators for the neighborhood (not the property) are mixed in a regional context. Within the San Diego–Chula Vista–Carlsbad metro, the area’s overall crime rank sits competitive among local neighborhoods (215 of 621), but national comparisons place it below the median for safety.
Property crime sits weaker in national comparison (low national percentile), though recent trends show year-over-year improvement. Violent crime is also below national averages by percentile, with modest improvement over the past year. Investors should underwrite with neighborhood-level historical trends and on-site security/design features in mind rather than block-level assumptions.
Proximity to major employers supports commuter convenience and a steady professional renter base, including Qualcomm, Celgene, NRG Energy, and Sysco—all within a practical drive of the asset.
- Qualcomm — wireless & semiconductors (7.2 miles) — HQ
- Celgene Corporation — biotechnology (7.5 miles)
- NRG Energy — energy (10.1 miles)
- Sysco — foodservice distribution (12.6 miles)
This 32-unit, 1975-vintage community in Solana Beach pairs coastal adjacency with top-tier neighborhood fundamentals—elite schools, abundant parks, and destination dining—while tapping into a high-income renter pool. The area is owner-tilted today, yet within a 3-mile radius, projections indicate population growth and a notable increase in households over the next five years, which expands the tenant base and supports occupancy durability. Elevated ownership costs in the neighborhood underpin renter reliance on multifamily housing even as rents are high, aiding pricing power when product quality and operations are competitive.
From an operations perspective, the vintage suggests thoughtful capital planning and selective value-add can drive rent readiness versus newer stock. According to CRE market data from WDSuite, neighborhood safety trends are improving and local employment access is strong, reinforcing steady demand from professionals. Key risks include affordability pressure (rent-to-income dynamics) and a relatively low neighborhood renter concentration, which call for disciplined leasing strategy and amenity positioning.
- Coastal-proximate, A-rated neighborhood with top-of-metro schools and destination amenities
- High ownership costs sustain multifamily demand and support pricing power
- 1975 vintage offers targeted value-add and capital planning opportunities
- Expanding 3-mile renter pool projected over five years, supporting occupancy stability
- Risks: affordability pressure and owner-heavy tenure require disciplined leasing and positioning