| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 76th | Best |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 380 Acacia Ave, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1987 |
| Units | 20 |
| Transaction Date | 2004-05-01 |
| Transaction Price | $3,100,000 |
| Buyer | Bill Exeter |
| Seller | Gary Dell & Mary Louise McDaniel |
380 Acacia Ave Carlsbad Multifamily Investment
Situated in an Urban Core pocket of Carlsbad with strong neighborhood amenities and a high renter-occupied share, this asset benefits from durable demand drivers even as occupancy can fluctuate; according to WDSuite’s CRE market data, elevated home values in the area tend to sustain reliance on rentals.
Carlsbad’s Urban Core around 380 Acacia Ave scores well on livability for renters and employees. Amenity access is a clear strength: parks and restaurants rank in the top quartile nationally, and the neighborhood is also top quartile among 621 metro neighborhoods for overall amenity access. Cafes and groceries are similarly strong, while childcare and pharmacies are comparatively thin, suggesting day-to-day convenience is robust but specialized errands may require short trips.
Housing dynamics are investor-friendly for multifamily. The share of renter-occupied units in the neighborhood is in the top quartile among 621 metro neighborhoods and ranks in the top quartile nationally, pointing to a deep tenant base that supports leasing velocity and retention. Median contract rents in the neighborhood are high relative to national benchmarks, while home values are elevated, reinforcing sustained renter demand and pricing power for well-positioned assets.
Within a 3-mile radius, demographics show a stable population today with expectations for population growth and a sizable increase in households over the next five years. This trajectory implies a larger tenant base and supports occupancy stability and absorption. Household incomes skew higher than national norms and are projected to rise, which can underpin rent levels when paired with thoughtful lease management.
Vintage is a consideration: the property’s 1987 construction is slightly older than the neighborhood’s average of 1988. For investors, that can translate into targeted capital planning and value-add potential (exterior refresh, unit interiors, or systems modernization) to sharpen competitiveness against newer product while capturing demand from renters prioritizing location and access.
Safety indicators here trend mixed. Compared with neighborhoods nationwide, the area sits below national safety averages, reflecting higher reported offense rates; however, within the San Diego–Chula Vista–Carlsbad metro it is competitive among 621 neighborhoods based on rank positioning. Recent data also shows a notable year-over-year decline in estimated property offenses, an encouraging directional trend that investors can monitor alongside on-site security and operational practices.
Given the below-average national standing and improving property offense trend, underwriting should incorporate practical measures—lighting, access controls, and resident engagement—while tracking neighborhood-level crime data updates from WDSuite for trend confirmation rather than relying on block-level assumptions.
Proximity to energy, biotech, and utilities employers supports a diverse renter pool and commute convenience, bolstering weekday occupancy and lease retention for workforce and professional tenants. Notable nearby employers include NRG Energy, Gilead Sciences, Qualcomm, Celgene, and Sempra Energy.
- NRG Energy — energy (2.6 miles)
- Gilead Sciences — biotech (4.7 miles)
- Qualcomm — wireless technology (19.7 miles) — HQ
- Celgene Corporation — biopharma (20.1 miles)
- Sempra Energy — utilities (31.7 miles) — HQ
This 20-unit, 1987-vintage asset in Carlsbad’s Urban Core is positioned to capture steady renter demand supported by strong neighborhood amenities, elevated home values, and a renter-occupied concentration that is high by metro and national standards. While neighborhood occupancy can be variable, the depth of the tenant base and rising household incomes within a 3-mile radius support leasing durability for well-operated properties.
Based on CRE market data from WDSuite, the area’s high-cost ownership landscape tends to sustain reliance on multifamily housing, which can translate into pricing power for renovated units. Given the vintage, a focused value-add program and systems modernization can lift competitiveness versus newer stock, while prudent lease management can navigate affordability pressure and local safety considerations.
- Strong renter demand drivers: high renter-occupied share and elevated ownership costs sustain the tenant base
- Amenity-rich location with top-quartile parks and dining supports livability and leasing
- Value-add potential: 1987 vintage suitable for interior refresh and systems upgrades to enhance rents
- Employer proximity (energy, biotech, utilities) underpins weekday occupancy and retention
- Risks: affordability pressure and below-national-average safety require disciplined underwriting and operations