| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 76th | Best |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 355 Pine Ave, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1986 |
| Units | 31 |
| Transaction Date | 1999-09-09 |
| Transaction Price | $2,875,000 |
| Buyer | GOSSELIN MARK |
| Seller | LINCOLN COASTAL CYPRESS COVE LTD |
355 Pine Ave Carlsbad Multifamily in High-Cost Coastal Market
Neighborhood home values are elevated and renter-occupied housing is common, supporting durable apartment demand near Carlsbad Village according to WDSuite’s CRE market data.
Located in Carlsbad’s Urban Core, the neighborhood carries an A rating and ranks 92 out of 621 metro neighborhoods, placing it in the top quartile among San Diego neighborhoods. For investors, this signals strong location fundamentals and competitive positioning within the metro.
Daily-life amenities are a clear strength: restaurants and cafes are abundant (both high nationally), grocery access is strong, and park access ranks at the top nationally. By contrast, childcare and pharmacy presence is thin, which may matter for certain renter segments. Average school ratings sit modestly above national norms, providing a balanced family-livability profile without being a prime schools-driven draw.
Tenure patterns indicate a sizable renter base: neighborhood housing shows a high share of renter-occupied units, which deepens the local tenant pool and can support leasing continuity. Neighborhood occupancy is lower than the national median, but the amenity base and coastal location tend to underpin traffic, with neighborhood-level NOI per unit trends performing in the top quartile among 621 metro neighborhoods, based on CRE market data from WDSuite.
Within a 3-mile radius, households have grown in recent years even as population was roughly flat, and forward-looking projections indicate population growth and a notable increase in households by 2028. That dynamic points to a larger tenant base and supports occupancy stability for well-positioned multifamily assets. Elevated home values relative to incomes characterize a high-cost ownership market, which generally sustains reliance on rental housing and can reinforce pricing power, though lease management should account for affordability pressure.
Relative to national benchmarks, the neighborhood’s safety profile is below the median, and within the San Diego metro it ranks 186 out of 621 neighborhoods, indicating higher crime levels than much of the region. For underwriting, this suggests attention to security features and operating practices that support retention.
Recent trends are mixed: property offenses declined materially year over year, a constructive signal for operators, while violent offense metrics have not improved meaningfully. Overall, risk is manageable with appropriate measures, and investors should benchmark against competitive assets nearby rather than block-level comparisons.
The area draws from a diverse employment base that supports renter demand, including energy, biotech, wireless technology, and foodservice distribution. Proximity to these employers can aid leasing velocity and retention for workforce and professional tenants.
- NRG Energy — energy (2.8 miles)
- Gilead Sciences — biotech/pharma (4.7 miles)
- Qualcomm — wireless & semiconductors (19.9 miles) — HQ
- Celgene Corporation — biotech (20.3 miles)
- Sysco — foodservice distribution (22.9 miles)
355 Pine Ave benefits from a high-cost coastal ownership landscape and a renter-heavy neighborhood, which together support steady multifamily demand. Amenity density is a differentiator, with strong access to dining, groceries, and parks that tends to bolster leasing and retention. Although neighborhood occupancy runs below national norms, neighborhood NOI per unit performance ranks among the metro’s better performers, suggesting competitive revenue potential for well-managed assets.
Within a 3-mile radius, households have increased and are projected to expand further, pointing to renter pool expansion that can support occupancy stability and measured rent growth. According to CRE market data from WDSuite, elevated home values relative to incomes reinforce reliance on rental housing, while affordability pressure underscores the need for disciplined lease management.
- High-cost ownership market supports sustained multifamily demand and pricing power
- Amenity-rich Urban Core location aids leasing velocity and retention
- Household and income growth within 3 miles expand the renter base over time
- Neighborhood NOI per unit trends are top quartile among 621 metro neighborhoods
- Risks: below-median safety and affordability pressure require proactive operations