Offering Memorandum 3945-51 CENTRE STREET San Diego, CA 92103
N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E Non-Endorsements Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. Disclaimer THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. Â 2017 Marcus & Millichap. All rights reserved. 3945-51 CENTRE STREET San Diego, CA ACT ID X0091294
TABLE OF CONTENTS SECTION SECTION INVESTMENT OVERVIEW 01 Property Overview Exterior Photos Interior Photos Regional Map Local Map Aerial Photo MARKET COMPARABLES 03 Comparables Rent Comparables MARKET OVERVIEW 04 Market Analysis Demographic Analysis FINANCIAL ANALYSIS 02 Rent Roll Summary Rent Roll Detail Operating Statement Pricing Detail
INVESTMENT OVERVIEW 4
PROPERTY OVERVIEW PROPERTY OVERVIEW Marcus & Millichap is pleased to present a rare seven unit multifamily investment opportunity in Hillcrest, one of San Diego s most established and desired neighborhoods. 3945-51 Centre is a 3,834 square foot complex sitting on a 7,671 square foot lot. This three building complex consists of two 2-bed/ 1-bath units, two 1-bed/1-bath units, and three studio/ 1-bath units. The front building is a two-story building that contains the two 2-bed units, one on each floor, and was built in the 1930s. Built in the 1940s, the middle building is the newest building that holds the two studio units. The back building is a two-story triplex that consists of two 1-bed units downstairs and one studio unit upstairs, built in the 1900s. Units feature ceramic tile with newer appliances in select units and more original interiors. Units run mainly on gas with individual meters for each. Currently, the owners have taken over the gas bill and allowed one long-term tenant in the last year to lease out a unit as a section 8 tenant for the purpose of making the renters lives easier. On-site leased laundry is available at the rear of the property. The subject property rests in the highly desirable neighborhood of Hillcrest, San Diego with an array of bars, restaurants, coffee houses, boutiques and unique thrift stores all within walking distance. Hillcrest is an older neighborhood that has recently experienced tremendous gentrification and now one of San Diego s trendiest and most coveted locations for renters. Located about 3 miles north of downtown San Diego, Hillcrest is ideally situated in close proximity to many of San Diego s main attractions. 3945-51 Centre has tremendous rental upside potential and is an ideal investment for the long-term pride of ownership investor seeking a high valueadd opportunity to upgrade units and raise rents in one of the highest demand rental markets in San Diego. PROPERTY OVERVIEW Prime Residential Location in Hillcrest Substantial Upside in Rents - Value-Add Opportunity Three Building Property Desirable Mix of 2-Bedroom, 1-Bedroom, and Studio Units Close to Restaurants, Shops, and Entertainment 5
EXTERIOR PHOTOS 6
INTERIOR PHOTOS 7
REGIONAL MAP 8
LOCAL MAP 9
AERIAL PHOTO 10
FINANCIAL ANALYSIS 11
RENT ROLL SUMMARY FINANCIAL ANALYSIS 12
RENT ROLL DETAIL FINANCIAL ANALYSIS 13
OPERATING STATEMENT FINANCIAL ANALYSIS 14
PRICING DETAIL FINANCIAL ANALYSIS 15
MARKET COMPARABLES 16
8 SALES COMPARABLES MAP 3945-51 CENTRE STREET (SUBJECT) 1 2 3 4 5 6 7 8 3524 Indiana 303-21 Olive 623-45 Bush 3657-61 7th Avenue 4030 1/2 & 4032 Georgia 416-20 University Place 3579-85 3rd Avenue 4176 Oregon SALES COMPARABLES ON MARKET COMPARABLES 17
PROPERTY 3945-51 CENTRE NAMESTREET SALES COMPARABLES ON MARKET COMPARABLES SALES COMPS AVG ON MARKET COMPS AVG COMPARABLES Average Cap Rate Average GRM 5.0 25.00 4.5 4.0 3.5 3.0 Avg. 4.10% Avg. 3.60% 22.50 20.00 17.50 15.00 Avg. 17.62 Avg. 15.54 2.5 12.50 2.0 10.00 1.5 7.50 1.0 5.00 0.5 2.50 0.0 3945-51 Centre 3524 Indiana 303-21 Olive 623-45 Bush 3657-61 7th Avenue 4030 1/2 & 4032 Georgia 416-20 University Place 3579-85 4176 Oregon 3rd Avenue 0.00 3945-51 Centre 3524 Indiana 303-21 Olive 623-45 Bush 3657-61 7th Avenue 4030 1/2 & 4032 Georgia 416-20 University Place 3579-85 3rd Avenue 4176 Oregon 18
PROPERTY 3945-51 CENTRE NAMESTREET SALES COMPARABLES ON MARKET COMPARABLES SALES COMPS AVG ON MARKET COMPS AVG COMPARABLES Average Price Per Square Foot Average Price Per Unit $500.00 $500,000 $450.00 Avg. $424.64 $450,000 $400.00 Avg. $382.99 $400,000 $350.00 $350,000 Avg. $339,959 $300.00 $300,000 Avg. $286,806 $250.00 $250,000 $200.00 $200,000 $150.00 $150,000 $100.00 $100,000 $50.00 $50,000 $0.00 3945-51 Centre 3524 Indiana 303-21 Olive 623-45 Bush 3657-61 4030 1/2 & 7th Avenue 4032 Georgia 416-20 University Place 3579-85 3rd Avenue 4176 Oregon $0 3945-51 Centre 3524 Indiana 303-21 Olive 623-45 Bush 3657-61 4030 1/2 & 7th Avenue 4032 Georgia 416-20 University Place 3579-85 3rd Avenue 4176 Oregon 19
PROPERTY 3945-51 CENTRE NAMESTREET MARKETING COMPARABLES TEAM SALES COMPARABLES ON MARKET COMPARABLES 3945-51 673 VISTA CENTRE ISLE DRIVE STREET 3945-51 673 VISTA CENTRE ISLE STREET, DRIVE, SUNRISE, SAN DIEGO, FL, CA, 33325 92103 3524 Indiana 3524 INDIANA STREET, SAN DIEGO, CA, 92103 1 303-21 Olive 303-21 OLIVE STREET, SAN DIEGO, CA, 92103 2 rentpropertyname1 rentpropertyname1 rentpropertyname1 Units Unit Type Offering Price: $1,875,000 2 2 Bdr 1 Bath Price/Unit: $267,857 2 1 Bdr 1 Bath Price/SF: $489.05 3 Studio 1 Bath CAP Rate: 2.29% GRM: 23.26 Total No. of Units: 7 Approx. Year Built: 1900 Units Unit Type Close Of Escrow: 6/28/2016 1 3 Bdr 2 Bath Sales Price: $2,200,000 5 2 Bdr 2 Bath Price/Unit: $314,286 1 1 Bdr 1 Bath Price/SF: $384.28 CAP Rate: 4.02% GRM: 16.40 Total No. of Units: 7 Approx. Year Built: 1991 Units Unit Type Close Of Escrow: 3/10/2017 5 1 Bdr 1 Bath Sales Price: $2,580,000 4 Studio 1 Bath Price/Unit: $286,667 Price/SF: $322.50 CAP Rate: 3.53% GRM: 18.40 Total No. of Units: 9 Approx. Year Built: 1950 rentpropertyaddress1 Underwriting Criteria Income $80,874 Expenses $37,974 NOI $42,900 Vacancy ($2,418) rentpropertyaddress1 Underwriting Criteria Income $1,341,000 Expenses $41,567 NOI $88,510 Vacancy $4,023 rentpropertyaddress1 Underwriting Criteria Income $140,217 Expenses $44,936 NOI $91,074 Vacancy $4,207 20
PROPERTY 3945-51 CENTRE NAMESTREET MARKETING COMPARABLES TEAM SALES COMPARABLES ON MARKET COMPARABLES 623-45 Bush 3657-61 7th Avenue 623-45 BUSH STREET, SAN DIEGO, CA, 92103 3657-61 7TH AVENUE, SAN DIEGO, CA, 92103 3 4 4030 1/2 & 4032 Georgia 4030 ½ & 4032 GEORGIA STREET, SAN DIEGO, CA, 92103 5 rentpropertyname1 rentpropertyname1 rentpropertyname1 Units Unit Type Close Of Escrow: 1/9/2017 8 2 Bdr 2 Bath Sales Price: $2,400,000 Price/Unit: $300,000 Price/SF: $312.50 CAP Rate: 4.84% GRM: 11.80 Total No. of Units: 8 Approx. Year Built: 1970 Units Unit Type Close Of Escrow: 1/4/2017 1 4 Bdr 3.5 Bath Sales Price: $2,194,000 2 2 Bdr 1 Bath Price/Unit: $438,800 2 1 Bdr 1 Bath Price/SF: $476.96 CAP Rate: 3.39% GRM: 18.94 Total No. of Units: 5 Approx. Year Built: 1993 Units Unit Type Close Of Escrow: 1/27/2017 1 3 Bdr 2 Bath Sales Price: $2,525,000 5 2 Bdr 2 Bath Price/Unit: $420,833 Price/SF: $386.26 CAP Rate: 2.94% GRM: 20.04 Total No. of Units: 6 Approx. Year Built: 1990 rentpropertyaddress1 Underwriting Criteria Income $203,390 Expenses $81,128 NOI $116,160 Vacancy $6,102 rentpropertyaddress1 Underwriting Criteria Income $115,839 Expenses $37,987 NOI $74,377 Vacancy $3,475 rentpropertyaddress1 Underwriting Criteria Income $125,998 Expenses $47,983 NOI $74,235 Vacancy $3,780 21
PROPERTY 3945-51 CENTRE NAMESTREET MARKETING COMPARABLES TEAM SALES COMPARABLES ON MARKET COMPARABLES 416-20 University Place 3579-85 3rd Avenue 416-20 UNIVERSITY PLACE, SAN DIEGO, CA, 92103 3579-85 3RD AVENUE, SAN DIEGO, CA, 92103 6 7 4176 Oregon 4176 OREGON STREET, SAN DIEGO, CA, 92104 8 rentpropertyname1 rentpropertyname1 rentpropertyname1 Units Unit Type Close Of Escrow: 3/7/2017 5 2 Bdr 1 Bath Sales Price: $1,675,000 1 1 Bdr 1 Bath Price/Unit: $279,167 Price/SF: $415.43 CAP Rate: 2.87% GRM: 20.16 Total No. of Units: 6 Approx. Year Built: 1958 Units Unit Type On Market 1 2 Bdr 1 Bath List Price: $2,500,000 7 1 Bdr 1 Bath Price/Unit: $312,500 Price/SF: $447.71 CAP Rate: 4.20% GRM: 15.47 Total No. of Units: 8 Approx. Year Built: 1940 Units Unit Type On Market 3 2 Bdr 1 Bath List Price: $2,350,000 6 1 Bdr 1 Bath Price/Unit: $261,111 Price/SF: $401.57 CAP Rate: 4.00% GRM: 15.60 Total No. of Units: 9 Approx. Year Built: 1965 rentpropertyaddress1 Underwriting Criteria Income $83,085 Expenses $32,519 NOI $48,073 Vacancy $2,493 rentpropertyaddress1 Underwriting Criteria Income $161,538 Expenses $51,692 NOI $105,000 Vacancy $4,846 rentpropertyaddress1 Underwriting Criteria Income $150,641 Expenses $52,122 NOI $94,000 Vacancy $4,519 22
8 RENT COMPARABLES MAP 3945-51 CENTRE STREET (SUBJECT) 1 2 3 4 5 6 7 8 9 1830-36 Robinson Avenue 3555 Florida 4018 Alabama 3670-80 Park Boulevard 1254 Robinson Avenue 3621 Park Boulevard 3953-67 Centre 3602-08 Park Boulevard 3914 Centre 10 11 12 13 14 15 16 17 18 20 23
PROPERTY 3945-51 CENTRE NAMESTREET AVERAGE RENT - MULTIFAMILY RENT COMPARABLES 2 Bedroom 1 Bedroom $3,000 $2,000 $2,700 $2,400 Avg. $2,100 $1,800 $1,600 Avg. $1,651 $2,100 $1,400 $1,800 $1,200 $1,500 $1,000 $1,200 $800 $900 $600 $600 $400 $300 $200 $0 3945-51 Centre 1830-36 Robinson Avenue 3555 Florida 4018 Alabama 3670-80 Park Boulevard $0 3945-51 Centre 3670-80 Park Boulevard 1254 Robinson Avenue 3621 Park Boulevard 3953-67 Centre Studios $2,000 $1,800 $1,600 $1,400 Avg. $1,394 $1,200 $1,000 $800 $600 $400 $200 $0 3945-51 Centre 3621 Park Boulevard 3953-67 Centre 3602-08 Park Boulevard 3914 Centre 24
PROPERTY 3945-51 CENTRE NAMESTREET RENT MARKETING COMPARABLES TEAM 3945-51 CENTRE STREET 3945-51 CENTRE STREET, SAN DIEGO, CA, 92103 1830-36 Robinson Avenue 1830-36 ROBINSON AVENUE, SAN DIEGO, CA, 92103 1 3555 Florida 3555 FLORIDA STREET, SAN DIEGO, CA, 92104 2 3945-51 CENTRE STREET 3945-51 CENTRE STREET 3945-51 CENTRE STREET Unit Type Units SF Rent Rent/SF 2 Bdr 1 Bath 2 817 $1,344 $1.65 1 Bdr 1 Bath 2 500 $890 $1.78 Studio 1 Bath 3 400 $750 $1.88 Total/Avg. 7 548 $960 $1.75 Unit Type Units SF Rent Rent/SF 2 Bdr 1 Bath 1 950 $1,850 $1.95 Total/Avg. 1 950 $1,850 $1.95 Unit Type Units SF Rent Rent/SF 2 Bdr 1 Bath 1 756 $2,130 $2.82 Total/Avg. 1 756 $2,130 $2.82 APPROX. YEAR BUILT: 1900 APPROX. YEAR BUILT: 1946 APPROX. YEAR BUILT: 1968 3945 CENTRE ST, SAN DIEGO, CA, 92103 3945 CENTRE ST, SAN DIEGO, CA, 92103 3945 CENTRE ST, SAN DIEGO, CA, 92103 25
PROPERTY 3945-51 CENTRE NAMESTREET RENT MARKETING COMPARABLES TEAM 4018 Alabama 4018 ALABAMA STREET, SAN DIEGO, CA, 92104 3 3670-80 Park Boulevard 3670-80 PARK BOULEVARD, SAN DIEGO, CA, 92103 4 1254 Robinson Avenue 1254 ROBINSON AVENUE, SAN DIEGO, CA, 92103 5 4018 ALABAMA STREET 4018 ALABAMA STREET 4018 ALABAMA STREET Unit Type Units SF Rent Rent/SF 2 Bdr 1 Bath 1 950 $2,125 $2.24 Total/Avg. 1 950 $2,125 $2.24 Unit Type Units SF Rent Rent/SF 2 Bdr 1 Bath 1 915 $2,295 $2.51 1 Bdr 1 Bath 1 628 $1,895 $3.02 Total/Avg. 2 772 $2,095 $2.72 Unit Type Units SF Rent Rent/SF 1 Bdr 1 Bath 1 588 $1,695 $2.88 Total/Avg. 1 588 $1,695 $2.88 APPROX. YEAR BUILT: 1971 APPROX. YEAR BUILT: 1960 APPROX. YEAR BUILT: 1975 4018 ALABAMA ST, SAN DIEGO, CA, 92104 4018 ALABAMA ST, SAN DIEGO, CA, 92104 4018 ALABAMA ST, SAN DIEGO, CA, 92104 26
PROPERTY 3945-51 CENTRE NAMESTREET RENT MARKETING COMPARABLES TEAM 3621 Park Boulevard 3621 PARK BOULEVARD, SAN DIEGO, CA, 92103 6 3953-67 Centre 3953-67 CENTRE STREET, SAN DIEGO, CA, 92103 7 3602-08 Park Boulevard 3602-08 PARK BOULEVARD, SAN DIEGO, CA, 92103 8 3621 PARK BOULEVARD 3621 PARK BOULEVARD 3621 PARK BOULEVARD Unit Type Units SF Rent Rent/SF 1 Bdr 1 Bath 1 750 $1,500 $2.00 Studio 1 Bath 1 600 $1,425 $2.38 Total/Avg. 2 675 $1,463 $2.17 Unit Type Units SF Rent Rent/SF 1 Bdr 1 Bath 1 550 $1,515 $2.75 Studio 1 Bath 1 450 $1,325 $2.94 Total/Avg. 2 500 $1,420 $2.84 Unit Type Units SF Rent Rent/SF Studio 1 Bath 1 397 $1,445 $3.64 Total/Avg. 1 397 $1,445 $3.64 APPROX. YEAR BUILT: 1920 APPROX. YEAR BUILT: 1962 APPROX. YEAR BUILT: 1960 3621 PARK BOULEVARD, SAN DIEGO, CA, 92103 3621 PARK BOULEVARD, SAN DIEGO, CA, 92103 3621 PARK BOULEVARD, SAN DIEGO, CA, 92103 27
PROPERTY 3945-51 CENTRE NAMESTREET RENT MARKETING COMPARABLES TEAM 3914 CENTRE STREET 3914 CENTRE STREET, SAN DIEGO, CA, 92103 9 3914 CENTRE STREET 3914 CENTRE STREET 3914 CENTRE STREET Unit Type Units SF Rent Rent/SF Studio 1 Bath 1 N/A $1,380 N/A Total/Avg. 1 N/A $1,380 N/A APPROX. YEAR BUILT: 1970 3914 CENTRE STREET, SAN DIEGO, CA, 92103 3914 CENTRE STREET, SAN DIEGO, CA, 92103 3914 CENTRE STREET, SAN DIEGO, CA, 92103 28
MARKET OVERVIEW 29
MARKET OVERVIEW SAN DIEGO METRO AREA Market Rides Wave of Demand Growth, Promoting Additional Capital Flows Sub-4 percent vacancy persists for another year. Barriers to entry into single-family housing and the formation of new households through additional hiring will generate substantial rental demand in 2017. Expanding bar, restaurant and hotel employment, plus gains in retail staffing, are filling the pipeline of prospective Class B and Class C apartment residents. Vacancy in this segment ended 2016 in the mid-3 percent range but could decline further this year due to steady demand drivers in this segment of the market. In the Class A tier, professional and business services employment substantially surpasses its prior peak, generating new demand for luxury units. Class A vacancy of under 4 percent last year illustrates strong demand, but the limits of the upper end of the market will be tested this year. A more than twofold increase in completions of market-rate rentals accounts for nearly all of the jump in this year s deliveries and will pressure Class A vacancy. Rent growth and vacancy level encourage investors. Low vacancy in the Class B and C complexes teamed with rapidly climbing Class A rents will draw a diversified investor pool to the market. Buyers willingness to pay historically high prices for assets should persist, as factors that could limit future rent growth are minimal. Downtown San Diego and its surrounding neighborhoods will remain areas of high interest. These locations boast high rents and a rental mix covering all asset classes. Investors seeking potential upsides could increasingly eye the cities of Vista and San Marcos, where vacancy remains low and rents rise due to minimal new construction. As a sizable market for Class C transactions, the city of El Cajon also provides opportunities for buyers seeking repositionable assets for less than $5 million. Overall, Class A and B properties will trade at 4 to mid-5 percent cap rates, with the market s average cap rate hovering around 5 percent. *Estimate ** Forecast Sources: Marcus & Millichap Research Services; BLS; CoStar Group, Inc. 30
MARKET OVERVIEW SAN DIEGO METRO AREA 2017 Market Forecast NMI Rank 9, down 4 places San Diego keeps a position in the top 10 this year despite an increase in the vacancy rate. Employment up 2.0% Expanding industries generate 28,500 jobs during 2017, down from 32,000 new hires in 2016. Construction 5,800 units Projects slated for delivery this year mark the high point of this cycle and intensify from the 3,100 rentals completed in 2016. Vacancy up 50 bps This year s projected expansion to 3.4 percent erases the decline posted in 2016, when 4,500 rentals were absorbed. Rent up 6.0% The average rent will advance to $1,882 per month this year. An influx of new units and rising Class B rents will fuel overall growth. Investment The market s lack of developable land will increase buyer interest for newer assets and existing properties that can be redeveloped, especially assets in and around downtown San Diego. * Estimate ** Forecast Sources: Marcus & Millichap Research Services; CoStar Group, Inc.; Real Capital Analytics 31
PROPERTY 3945-51 CENTRE NAMESTREET Created on May 2017 POPULATION 1 Miles 3 Miles 5 Miles 2021 Projection Total Population 40,149 273,047 580,106 2016 Estimate Total Population 39,759 264,450 567,302 2010 Census Total Population 37,102 244,891 527,827 2000 Census Total Population 36,973 232,738 512,080 Daytime Population 2016 Estimate 46,026 385,063 766,782 HOUSEHOLDS 1 Miles 3 Miles 5 Miles 2021 Projection Total Households 23,141 128,272 229,853 2016 Estimate Total Households 22,824 122,160 222,161 Average (Mean) Household Size 1.71 2.04 2.38 2010 Census Total Households 21,205 112,359 206,529 2000 Census Total Households 21,013 100,810 194,007 Growth 2015-2020 1.39% 5.00% 3.46% HOUSING UNITS 1 Miles 3 Miles 5 Miles Occupied Units 2021 Projection 23,141 128,272 229,853 2016 Estimate 22,944 126,948 229,283 Owner Occupied 5,352 35,136 74,419 Renter Occupied 17,473 87,023 147,742 Vacant 119 4,789 7,121 Persons In Units 2016 Estimate Total Occupied Units 22,824 122,160 222,161 1 Person Units 50.83% 43.54% 35.79% 2 Person Units 35.67% 32.97% 31.13% 3 Person Units 8.43% 10.89% 13.16% 4 Person Units 3.33% 6.49% 9.62% 5 Person Units 1.07% 3.17% 5.12% 6+ Person Units 0.67% 2.93% 5.18% MARKETING DEMOGRAPHICS TEAM HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles 2016 Estimate $200,000 or More 3.74% 5.22% 4.83% $150,000 - $199,000 4.23% 4.46% 4.48% $100,000 - $149,000 10.90% 11.62% 11.83% $75,000 - $99,999 10.60% 10.88% 11.12% $50,000 - $74,999 20.21% 17.11% 17.15% $35,000 - $49,999 16.18% 14.13% 14.11% $25,000 - $34,999 10.20% 9.94% 10.25% $15,000 - $24,999 10.75% 11.47% 11.66% Under $15,000 13.18% 15.18% 14.57% Average Household Income $70,674 $75,730 $74,677 Median Household Income $49,618 $49,158 $49,307 Per Capita Income $40,784 $35,705 $30,343 POPULATION PROFILE 1 Miles 3 Miles 5 Miles Population By Age 2016 Estimate Total Population 39,759 264,450 567,302 Under 20 10.07% 17.98% 22.86% 20 to 34 Years 36.34% 33.07% 31.03% 35 to 39 Years 11.28% 9.33% 8.16% 40 to 49 Years 15.14% 13.82% 12.79% 50 to 64 Years 16.37% 15.87% 15.03% Age 65+ 10.77% 9.93% 10.15% Median Age 36.40 34.55 33.04 Population 25+ by Education Level 2016 Estimate Population Age 25+ 33,319 195,127 384,163 Elementary (0-8) 1.83% 4.90% 6.55% Some High School (9-11) 3.70% 6.26% 7.89% High School Graduate (12) 12.70% 16.83% 18.61% Some College (13-15) 21.89% 20.74% 21.54% Associate Degree Only 7.83% 7.90% 7.72% Bachelors Degree Only 31.69% 25.80% 22.48% Graduate Degree 19.71% 15.98% 12.94% Population by Gender 2016 Estimate Total Population 39,759 264,450 567,302 Male Population 52.06% 52.65% 51.60% Female Population 47.94% 47.35% 48.40% Source: 2016 Experian 32
PROPERTY 3945-51 CENTRE NAMESTREET MARKETING DEMOGRAPHICS TEAM Population In 2016, the population in your selected geography is 39,759. The population has changed by 7.54% since 2000. It is estimated that the population in your area will be 40,149.00 five years from now, which represents a change of 0.98% from the current year. The current population is 52.06% male and 47.94% female. The median age of the population in your area is 36.40, compare this to the US average which is 37.68. The population density in your area is 12,657.47 people per square mile. Race and Ethnicity The current year racial makeup of your selected area is as follows: 70.57% White, 6.75% Black, 0.41% Native American and 6.97% Asian/Pacific Islander. Compare these to US averages which are: 70.77% White, 12.80% Black, 0.19% Native American and 5.36% Asian/Pacific Islander. People of Hispanic origin are counted independently of race. People of Hispanic origin make up 23.70% of the current year population in your selected area. Compare this to the US average of 17.65%. Households There are currently 22,824 households in your selected geography. The number of households has changed by 8.62% since 2000. It is estimated that the number of households in your area will be 23,141 five years from now, which represents a change of 1.39% from the current year. The average household size in your area is 1.71 persons. Housing The median housing value in your area was $453,039 in 2016, compare this to the US average of $187,181. In 2000, there were 4,431 owner occupied housing units in your area and there were 16,582 renter occupied housing units in your area. The median rent at the time was $621. Income In 2016, the median household income for your selected geography is $49,618, compare this to the US average which is currently $54,505. The median household income for your area has changed by 48.69% since 2000. It is estimated that the median household income in your area will be $56,922 five years from now, which represents a change of 14.72% from the current year. Employment In 2016, there are 18,817 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 72.88% of employees are employed in white-collar occupations in this geography, and 27.09% are employed in blue-collar occupations. In 2016, unemployment in this area is 4.31%. In 2000, the average time traveled to work was 23.00 minutes. The current year per capita income in your area is $40,784, compare this to the US average, which is $29,962. The current year average household income in your area is $70,674, compare this to the US average which is $78,425. Source: 2016 Experian 33