| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 73rd | Good |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4705 8th St, Carpinteria, CA, 93013, US |
| Region / Metro | Carpinteria |
| Year of Construction | 1979 |
| Units | 32 |
| Transaction Date | 2010-04-01 |
| Transaction Price | $7,200,000 |
| Buyer | 8th Street Carpenteria |
| Seller | Bosse Family 2007 Trust |
4705 8th St, Carpinteria CA — Coastal Multifamily Positioning
Situated in a high-cost ownership pocket of Santa Barbara County, the submarket’s elevated home values and strong household incomes support durable renter demand, according to WDSuite’s CRE market data.
Carpinteria sits within an Inner Suburb setting of the Santa Maria–Santa Barbara metro, combining coastal lifestyle appeal with practical access to jobs across South Santa Barbara County. Amenity access scores in the top quartile nationally and ranks 5th among 94 metro neighborhoods, with dense concentrations of restaurants, groceries, parks, and daily services fostering convenience that aids leasing and retention.
Neighborhood rent levels benchmark high versus the nation while the rent-to-income ratio trends comparatively moderate, helping manage affordability pressure and supporting renewal odds. Neighborhood NOI per unit indicators are also strong—competitive near the top of the metro (ranked 6th of 94)—which reinforces the case for stabilized operations when assets are well-managed.
School quality lands competitive among Santa Maria–Santa Barbara neighborhoods (29th of 94), an attribute that can broaden the tenant profile for larger floor plans and longer stays, while still requiring thoughtful positioning. The area’s renter concentration is substantial, with an above-median share of housing units renter-occupied, indicating depth in the tenant base for multifamily product.
Within a 3-mile radius, recent population trends have been flat, but projections call for an increase in households alongside smaller average household sizes—both supportive of a larger tenant base and steady absorption for well-located units. Elevated median home values and a high value-to-income ratio position the area as a high-cost ownership market, which can sustain multifamily demand and pricing power when paired with careful lease management.
Neighborhood-level crime metrics are not available from WDSuite for this location. Investors typically benchmark safety by comparing Carpinteria and nearby submarkets to broader Santa Barbara County trends and by reviewing multiple third-party sources over time to understand directional patterns rather than block-level variations.
Regional employment draws include aerospace/defense and biotech anchors that broaden the professional renter base and support commute convenience to South Santa Barbara and Ventura County job centers. The list below highlights nearby employers relevant to leasing stability.
- Lockheed Martin Corporation — defense & aerospace offices (19.7 miles)
- Amgen — biotechnology (37.4 miles) — HQ
This 32-unit asset benefits from a coastal Inner Suburb location where elevated ownership costs and strong household incomes underpin multifamily demand. Neighborhood-level indicators show high amenity access and competitive NOI per unit rankings, while rent-to-income levels remain manageable—factors that can support occupancy stability and pricing discipline, based on CRE market data from WDSuite.
Forward-looking 3-mile demographics point to an increase in households and smaller average household sizes, which can expand the renter pool and aid absorption for well-located mid-size units. Key watch items include softer neighborhood occupancy signals versus the metro and the need for careful lease management to balance retention with rent growth in a high-cost ownership environment.
- High-cost ownership market supports sustained renter demand and pricing power
- Strong amenity access and competitive NOI per unit metrics in the metro
- Household growth and smaller household sizes within 3 miles expand the tenant base
- Risk: neighborhood occupancy trends require disciplined lease management and positioning