| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 77th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2301 Altisma Way, Carlsbad, CA, 92009, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1992 |
| Units | 31 |
| Transaction Date | --- |
| Transaction Price | $6,500,000 |
| Buyer | LMX LA COSTA INC |
| Seller | --- |
2301 Altisma Way, Carlsbad CA Multifamily Investment
Strong neighborhood occupancy and a high-cost ownership market support durable renter demand, according to WDSuite’s CRE market data. This positioning favors stable cash flow potential in a supply-constrained North County submarket.
Located in Carlsbad’s inner suburbs of the San Diego metro, the property sits within a neighborhood that demonstrates high renter demand and limited turnover. Neighborhood occupancy is in the top quartile nationally, indicating stable leasing conditions at the neighborhood level rather than the property itself.
Schools in the area are a relative strength for the metro: the neighborhood’s average school rating is strong and competitive, ranking in the top quartile among 621 metro neighborhoods. For investors, this tends to support family-oriented renter retention and a deeper tenant base.
The 1992 vintage is newer than the neighborhood’s average construction year of 1980. That positioning generally improves competitive standing versus older stock, while still warranting attention to aging building systems and targeted modernization to sustain rents.
Within a 3-mile radius, recent population growth has been modest, with projections showing a slight population contraction alongside an increase in household counts and smaller average household sizes. This typically broadens the renter pool and supports occupancy stability. Elevated home values and a high value-to-income landscape reinforce reliance on multifamily rentals, while relatively manageable rent-to-income ratios reduce affordability pressure — dynamics that can aid pricing power and lease retention. These trends are supported by commercial real estate analysis from WDSuite.
Safety indicators are mixed but broadly comparable to national norms. Overall crime levels track near the national middle, with property offenses showing notable year-over-year improvement at the neighborhood level. Violent offense metrics have recently trended higher, so risk management should account for potential variability. These signals are metro-relative and neighborhood-wide, not block-specific.
For underwriting, the takeaway is a generally average safety profile among U.S. neighborhoods, with improving property crime trends but a recent uptick in violent incidents. Monitoring local policing and community initiatives over time can help calibrate expectations.
The location draws from a diversified employment base across energy, biotech, and technology, supporting commuter convenience and multifamily demand. Nearby employers include NRG Energy, Gilead Sciences, Qualcomm, Celgene, and Sysco.
- NRG Energy — energy (3.9 miles)
- Gilead Sciences — biotech/pharma (8.0 miles)
- Qualcomm — wireless & semiconductors (13.8 miles)
- Qualcomm — wireless & semiconductors (14.1 miles) — HQ
- Celgene Corporation — biotech/pharma (14.8 miles)
- Sysco — foodservice distribution (16.2 miles)
Carlsbad’s high neighborhood occupancy and elevated ownership costs underpin a durable renter pool and support pricing power. The property’s 1992 construction is newer than the neighborhood average, offering competitive positioning versus older stock while suggesting targeted capital planning for modernization and system upgrades. According to CRE market data from WDSuite, renter-occupied share in the area is meaningful and, combined with strong school outcomes, supports retention among family-oriented tenants.
Within a 3-mile radius, household counts are projected to rise even as population trends flatten, reflecting smaller household sizes and a broader renter base. Coupled with high household incomes and sustained demand drivers from nearby life sciences and technology employers, the submarket offers a constructive backdrop for long-term multifamily performance, with attention to affordability management and neighborhood safety monitoring.
- High neighborhood occupancy supports leasing stability and cash flow durability.
- 1992 vintage provides competitive edge vs. older stock with value-add through modernization.
- Elevated ownership costs in Carlsbad reinforce multifamily demand and tenant retention.
- Diversified nearby employers in energy, biotech, and tech support renter demand.
- Risks: mixed safety trends and future population softness warrant ongoing monitoring and prudent lease management.