| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 72nd | Good |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6505 Paseo Frontera, Carlsbad, CA, 92009, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1985 |
| Units | 69 |
| Transaction Date | --- |
| Transaction Price | $6,000,000 |
| Buyer | OWNERSHIP NAME INFORMATION |
| Seller | --- |
6505 Paseo Frontera Carlsbad Multifamily Investment
Neighborhood occupancy is in the mid-90% range and ownership costs are elevated, supporting steady renter demand near key North County job nodes, according to WDSuite’s CRE market data.
Positioned in Carlsbad’s inner-suburban fabric, the property sits in a neighborhood rated A- and is competitive among San Diego–Chula Vista–Carlsbad neighborhoods (108 of 621). Local occupancy for the neighborhood is 94.1%, suggesting stable leasing conditions relative to national norms, with rent levels and incomes that support ongoing payment capacity.
Schools in the surrounding area average roughly 4.0 out of 5, placing the neighborhood in the top quartile nationally for school quality. Amenities skew toward daily-needs convenience: grocery and pharmacy access score above national medians, while destination food-and-beverage density is more moderate. This mix typically supports family-oriented renter profiles and longer tenure.
Home values in the neighborhood are elevated (97th percentile nationally) and median household income ranks in the low-90s percentiles nationwide. In investor terms, a high-cost ownership market reinforces reliance on multifamily housing, which can aid rent growth durability and lease retention when managed carefully. Neighborhood housing fundamentals also score strongly (above the 80th percentile nationally), and average NOI per unit ranks in the low-90s percentiles, indicating favorable operating performance benchmarks for comparable assets.
Construction vintage in the immediate area trends newer (average 1993). Built in 1985, this asset is older than nearby stock, which points to potential value-add upside through unit modernization and targeted capital planning to sharpen competitiveness against newer comparables. For renter-occupied tenure, the neighborhood’s renter concentration is around one-quarter of units, indicating a smaller but stable tenant base; within a 3-mile radius, renter share is closer to one-third, broadening demand for well-located, professionally managed communities.
Within a 3-mile radius, the population expanded over the last five years and is projected to modestly contract while household counts are expected to increase and average household size to decline. For investors, more but smaller households can expand the renter pool and support occupancy stability, even as demographics evolve. Median contract rent in the 3-mile area has risen in recent years and is projected to continue growing, aligning with the market’s higher-income profile.
Neighborhood safety indicators are mixed when viewed against national benchmarks: overall crime sits below the national middle, with violent and property offense rates tracking in lower national percentiles (less favorable), yet year-over-year trends show notable improvement in violent incidents. Within the San Diego–Chula Vista–Carlsbad metro, the area performs competitively among peer neighborhoods rather than at the top or bottom of the range.
For underwriting and operations, this context suggests standard security and lighting best practices are appropriate, while the improving trend may support leasing narratives focused on stability without overpromising block-level outcomes.
Proximity to energy, biotech, and technology employers underpins a solid commuter tenant base and supports retention through convenient access to major job centers, including NRG Energy, Gilead Sciences, Qualcomm, Celgene, and Sysco.
- NRG Energy — energy (4.6 miles)
- Gilead Sciences — biotech (7.5 miles)
- Qualcomm — telecommunications & technology (14.9 miles) — HQ
- Celgene Corporation — biotech (15.6 miles)
- Sysco — foodservice distribution (16.1 miles)
This 69-unit asset offers exposure to a high-income, high-cost ownership pocket of North County San Diego where neighborhood occupancy is 94.1% and renter demand is supported by elevated home values and solid school quality. Built in 1985, the property is older than nearby stock (average 1993), creating a clear value-add path via interiors, exteriors, and systems that can elevate positioning against newer comps. According to CRE market data from WDSuite, neighborhood housing and NOI benchmarks rank well nationally, reinforcing the case for durable operations when coupled with disciplined expense control.
Within a 3-mile radius, households have grown and are projected to keep expanding even as average household size trends lower, which can broaden the renter pool and support occupancy stability. Strong incomes and a relatively modest rent-to-income profile for the neighborhood point to manageable affordability pressure and potential pricing power, though careful lease management remains important as demographics shift and new supply competes regionally.
- High-cost ownership market supports multifamily reliance and lease retention
- Stable neighborhood occupancy (~mid-90%) with strong school and amenity fundamentals
- 1985 vintage presents value-add and capex planning opportunities versus newer local stock
- Household growth and smaller household sizes expand the renter base over time
- Risks: softer safety percentiles versus national benchmarks, evolving demographics, and competition from newer product