| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 76th | Best |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 360 Chestnut Ave, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1984 |
| Units | 23 |
| Transaction Date | --- |
| Transaction Price | $1,380,000 |
| Buyer | CARLSBAD SHORES APARTMENT HOMES LP |
| Seller | CARLSBAD SHORES APARTMENTS GP |
360 Chestnut Ave, Carlsbad Multifamily Investment
In a high-cost ownership pocket of Carlsbad, renter demand is supported by strong neighborhood amenities and a sizable renter-occupied base, according to WDSuite’s CRE market data.
Located in Carlsbad’s Urban Core, the property benefits from a neighborhood rated A and competitive among the 621 metro neighborhoods (ranked 92), with dining, cafes, groceries, and park access standing out. Restaurant and café density trends in the top quartile nationally, and parks per square mile are among the strongest nationwide. These day-to-day conveniences support leasing and retention for small-unit assets.
Home values in the neighborhood sit at the higher end for the region and well above national norms. In practice, this high-cost ownership market can reinforce reliance on multifamily housing and support pricing power for well-located assets, especially near coastal employment and amenities.
Neighborhood renter concentration is elevated (renter-occupied share above metro median), indicating a deep tenant base for multifamily. While the neighborhood’s occupied housing rate trends below national averages, it has improved over the past five years, suggesting gradually firmer fundamentals. Median asking rents in the neighborhood are also high relative to national levels, aligning with coastal San Diego dynamics.
Within a 3‑mile radius, household counts have grown in recent years and are projected to expand further alongside rising incomes, indicating a larger tenant base and support for rent levels going forward. Average school ratings are competitive within the metro and modestly above national midpoints, which can aid family-oriented renter retention, though the immediate area shows limited childcare and pharmacy presence that owners should account for in tenant experience planning.
Vintage and asset positioning: Built in 1984, the property is slightly older than the neighborhood’s average vintage. Investors should underwrite routine capital planning and selective renovations to enhance competitiveness versus newer stock, with potential value-add upside in unit finishes and common areas.
Safety indicators are mixed. The neighborhood is competitive within the San Diego-Chula Vista-Carlsbad metro (crime rank 186 among 621 neighborhoods), yet safety levels trail national averages. Property offenses have trended down over the past year, which is a constructive signal, while violent offense measures remain weaker relative to the nation. Investors should incorporate prudent security, lighting, and access controls into underwriting and operations, and benchmark against nearby coastal submarkets.
Proximity to regional employers supports renter demand through commute convenience and diversified industries, including energy/utilities, biopharma, and wireless technology. Notable nearby employers include NRG Energy, Gilead Sciences, Qualcomm, Celgene, and Sempra Energy.
- NRG Energy — energy (2.7 miles)
- Gilead Sciences — biopharma (4.7 miles)
- Qualcomm — wireless & semiconductors (19.8 miles) — HQ
- Celgene Corporation — biopharma (20.2 miles)
- Sempra Energy — utilities (31.9 miles) — HQ
This 23‑unit, 1984 vintage asset sits in an A‑rated Carlsbad neighborhood with top-tier amenity access and a renter-leaning housing base. Elevated home values and high neighborhood rent levels signal depth of demand for well-located multifamily, while projected household and income growth within a 3‑mile radius point to a larger tenant base and support for occupancy stability. According to CRE market data from WDSuite, neighborhood occupancy has trended upward in recent years despite sitting below national averages, suggesting scope for operational lift with targeted renovations and leasing execution.
The vintage implies manageable capital planning alongside value-add potential in interiors and common areas to compete with newer coastal stock. Safety metrics are below national benchmarks but improving for property offenses; prudent on-site measures and tenant screening can mitigate risk. Limited childcare and pharmacy access nearby may require amenity positioning that emphasizes convenience and on-site services.
- High-cost ownership market reinforces multifamily demand and pricing power
- A‑rated, amenity-rich Urban Core location with strong parks, dining, and groceries
- 1984 vintage offers clear value‑add path via unit and common‑area upgrades
- 3‑mile outlook shows expanding households and rising incomes supporting demand
- Risks: below‑national safety benchmarks and limited childcare/pharmacies; addressable via operations and amenity strategy