| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 76th | Best |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 351 Acacia Ave, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1973 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | $1,638,000 |
| Buyer | TALKE FRANK E |
| Seller | DRG/HUEBNER COUNTRY LTD |
351 Acacia Ave, Carlsbad 36-Unit Multifamily
Neighborhood fundamentals point to durable renter demand supported by a renter-occupied share near the majority and a high-cost ownership market, according to WDSuite’s CRE market data. Leasing remains competitive locally, with strong amenity access helping support retention in an Urban Core setting.
Set in Carlsbad’s Urban Core, the neighborhood ranks 92 out of 621 metro neighborhoods (top quartile) with an overall A rating, based on CRE market data from WDSuite. Amenity access is a clear strength: restaurants and cafés are dense relative to the region, and park access is among the highest nationally, helping underpin day-to-day livability that supports leasing.
Local tenure patterns indicate a sizable renter base. The neighborhood’s share of renter-occupied housing units is 54.3%, signaling depth for multifamily demand and a broad tenant pool for a 36‑unit asset. Neighborhood occupancy is reported at 82.8% (neighborhood metric, not the property), which suggests operators should focus on asset quality, service, and pricing discipline to maintain stability.
Within a 3‑mile radius, households have grown in recent years and are projected to expand further by the next five-year horizon, indicating a larger tenant base and potential support for occupancy and rent levels. Median incomes have trended upward in the same radius, which helps absorption for quality units while still requiring careful lease management where rent-to-income pressure may emerge.
Ownership costs in the neighborhood are elevated, with median home values well above regional norms and a value‑to‑income ratio that ranks in the top tier nationally. For multifamily, this typically sustains reliance on rental housing and can aid pricing power and lease retention, especially for well‑maintained properties close to amenities and employment. Average neighborhood school ratings sit near the middle of national peers, an adequate backdrop for a wide renter profile.
The property’s 1973 vintage is older than the neighborhood’s average construction year (1988). For investors, this points to potential value‑add through targeted renovations and capital planning to improve competitive positioning versus newer stock while capturing demand rooted in the area’s amenity and employment access.
Safety trends are mixed when compared across the metro and nation. The neighborhood’s crime rank sits in the higher‑incidence tier within the San Diego–Chula Vista–Carlsbad metro (rank 186 out of 621), indicating crime levels above many local neighborhoods. Nationally, current safety percentiles are on the lower end, so investors should underwrite with prudent operating practices and consider security‑minded improvements where appropriate.
Recent movement is constructive on property offenses, which have declined year over year, placing the area’s improvement pace among stronger trajectories nationally. While this downtrend is encouraging, prudent assumptions and active property management remain important to support resident satisfaction and retention.
Proximity to a diversified employment base supports renter demand and commute convenience, notably in energy, biotech, and technology. Nearby anchors include NRG Energy, Gilead Sciences, Qualcomm, Celgene, and Sempra Energy.
- NRG Energy — energy (2.5 miles)
- Gilead Sciences — biotech (4.8 miles)
- Qualcomm — technology (19.6 miles) — HQ
- Celgene Corporation — biopharma (20.0 miles)
- Sempra Energy — utilities & infrastructure (31.6 miles) — HQ
351 Acacia Ave offers exposure to a top‑quartile Carlsbad neighborhood where elevated ownership costs and strong amenity access help sustain renter reliance on multifamily housing. According to CRE market data from WDSuite, the surrounding area shows a sizable renter concentration and improving property‑offense trends, while neighborhood occupancy levels suggest that hands‑on operations and customer experience can be meaningful differentiators.
Built in 1973, the asset may benefit from targeted renovations and system upgrades to compete against newer stock, with value‑add potential reinforced by a growing 3‑mile household base and proximity to diverse employers. Investors should balance these strengths against affordability pressure and local safety considerations when underwriting rent growth and retention.
- High‑cost ownership market supports sustained rental demand and pricing power
- Sizable renter concentration and dense amenities bolster the tenant pool
- 1973 vintage offers value‑add/modernization upside to improve competitiveness
- Expanding 3‑mile household base and nearby employers aid leasing stability
- Risks: neighborhood safety sits below metro average and affordability pressure requires disciplined lease management