| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 82nd | Best |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1031 Palm Ave, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 2000 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1031 Palm Ave, Carlsbad Multifamily in High-Cost Coastal Submarket
Positioned in a high-cost ownership market with strong schools and steady occupancy, this asset benefits from durable renter demand, according to WDSuite’s CRE market data. Newer vintage relative to nearby stock supports competitive positioning while favoring disciplined, operations-focused underwriting.
Located in Carlsbad’s inner-suburban fabric, the neighborhood ranks in the top quartile among 621 San Diego metro neighborhoods, reflecting balanced livability and investment appeal. Parks and childcare access are notably strong (both high nationally), while grocery coverage is solid; cafe density is lighter, which skews the amenity mix toward daily-needs convenience over leisure retail.
Occupancy in the neighborhood sits in the low-90s and trends around the national median, supporting income stability without signaling overheating. Median contract rents are elevated versus national benchmarks, yet rent-to-income levels indicate manageable affordability pressure for local households—an important factor for lease retention and renewal strategies.
Within a 3-mile radius, population and households have grown and are projected to expand at a double-digit pace by 2028, pointing to a larger tenant base and potential support for absorption. Renter-occupied housing comprises roughly half of units within this radius, indicating a deep pool of multifamily demand for workforce and professional households.
Home values are high (near the top nationally), which reinforces reliance on multifamily housing and supports pricing power when paired with quality product. Average school ratings are also strong (near the top nationally), a family-friendly signal that can enhance retention for larger floor plans. Operationally, neighborhood-level NOI per unit trends above national midline, suggesting room for performance at institutional standards.
The property’s 2000 construction year is newer than the neighborhood average (1988), offering competitive positioning versus older stock. Investors should still plan for modernization of aging systems and common areas to capture rent premiums and sustain occupancy.
Neighborhood safety indicators are mixed relative to national norms. Overall safety sits below the national average, but recent data show property offenses declining year over year, while violent incidents have trended higher. These are neighborhood-level signals, not block-specific conditions, and they can shift over time.
Compared with San Diego metro peers, the area is competitive but not among the safest cohorts; investors typically address this through targeted property-level measures (lighting, access control, and management presence) and by monitoring local trends. As always, align underwriting with current comps and conduct on-the-ground diligence to validate daypart patterns and recent changes.
Nearby employers span energy, life sciences, and technology, supporting a diversified renter base and commute convenience for residents. Notable names include NRG Energy, Gilead Sciences, Qualcomm, Celgene, and Sempra Energy.
- NRG Energy — energy (2.5 miles)
- Gilead Sciences — biotech (4.3 miles)
- Qualcomm — wireless & semiconductor (19.7 miles) — HQ
- Celgene Corporation — biopharma (20.1 miles)
- Sempra Energy — utilities (31.8 miles) — HQ
1031 Palm Ave offers a coastal Carlsbad location where elevated ownership costs and strong schools underpin multifamily demand. Neighborhood occupancy sits around the national median, while high home values and above-average incomes support rent durability and lease retention. Based on CRE market data from WDSuite, the property’s 2000 vintage is newer than nearby stock, creating a competitive edge with potential value-add through targeted systems and interiors updates.
Demographic tailwinds within a 3-mile radius—expanding population, rising household counts, and a sizable renter-occupied base—support a growing tenant pool and absorption potential. Rent growth at the neighborhood level has been more measured in recent years, reinforcing the case for disciplined underwriting and operational execution to drive returns.
- High-cost ownership market sustains renter reliance and pricing power potential
- Newer 2000 vintage versus local average enables a competitive, value-add positioning
- 3-mile demand drivers: growing population and households expand the tenant base
- Neighborhood occupancy near national midline supports income stability with room for management upside
- Risks: safety metrics below national average and modest recent rent growth require conservative underwriting and active asset management