| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Poor |
| Demographics | 81st | Best |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 874 Home Ave, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 2000 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | $774,000 |
| Buyer | PGP CARLSBAD LLC |
| Seller | KRNICH NICHOLAS MICHAEL |
874 Home Ave, Carlsbad, CA Multifamily Investment
Neighborhood-level data indicate a high share of renter-occupied housing and elevated home values that reinforce multifamily demand near this address, according to WDSuite’s CRE market data.
Amenities are a core strength. The neighborhood ranks among the most amenity-rich areas in the San Diego–Chula Vista–Carlsbad metro (competitive among 621 neighborhoods), with national top-quartile access to restaurants, groceries, parks, and daily services. This concentration of conveniences typically supports leasing velocity and retention for well-located workforce and lifestyle units.
Housing dynamics favor rental demand. Renter-occupied share is high in the neighborhood, indicating a deep tenant base, while elevated home values suggest a high-cost ownership market that can sustain reliance on multifamily housing. According to CRE market data from WDSuite, neighborhood occupancy is below the national middle, so effective leasing and renewal strategies remain important to stabilize cash flow.
Within a 3-mile radius, demographics point to a stable-to-growing renter pool. Households have grown in recent years and are projected to expand further by 2028 alongside rising incomes, supporting absorption and pricing power for well-managed assets. Median contract rents in the area have increased over the past five years and are expected to continue rising, which underscores the importance of asset positioning and unit quality.
Vintage context matters for competitiveness. The property was built in 2000, newer than the neighborhood’s average vintage, which can reduce near-term capital needs versus older stock while still offering selective value-add potential (common areas, systems, and finishes) to meet current renter expectations.
Safety indicators are below national averages for neighborhoods, and the area performs below the metro midpoint among the 621 San Diego–Chula Vista–Carlsbad neighborhoods. Investors should underwrite with conservative security and operating assumptions relative to in-metro best performers.
That said, WDSuite data show year-over-year improvement, with declines in both property and violent offense estimates. Monitoring trend continuity and applying standard risk-mitigation measures can help support tenant retention and asset operations.
Nearby corporate nodes help anchor renter demand through commute convenience, with exposure to energy, biotech, semiconductors, biopharma, and foodservice distribution reflected below.
- Nrg Energy — energy (3.2 miles)
- Gilead Sciences — biotech (4.3 miles)
- Qualcomm — semiconductors (20.4 miles) — HQ
- Celgene Corporation — biopharma (20.8 miles)
- Sysco — foodservice distribution (23.2 miles)
874 Home Ave offers a 24-unit, 2000-vintage multifamily asset in a high-amenity, high-cost coastal neighborhood of Carlsbad. The area’s elevated ownership costs and high renter concentration support demand depth, while amenity density provides lifestyle appeal that can aid lease-up and renewals. According to CRE market data from WDSuite, neighborhood occupancy trends are softer than national averages, so performance leans on active leasing and resident retention.
Within a 3-mile radius, households and incomes are projected to grow into 2028, expanding the local renter pool and supporting rent levels for well-positioned properties. Being newer than the neighborhood’s average vintage, the asset can compete against older stock today while retaining room for targeted value-add to sharpen positioning and drive NOI.
- Demand depth from high renter-occupied share and elevated ownership costs that sustain reliance on multifamily housing.
- Amenity-rich location near diverse employers supports leasing traction and resident retention.
- 2000 vintage offers competitive positioning versus older neighborhood stock with selective value-add upside.
- Forward demand drivers: within 3 miles, households and incomes are projected to increase through 2028, supporting absorption and rent growth.
- Risks: safety metrics are below national averages and neighborhood occupancy is softer, requiring disciplined leasing, pricing, and expense controls to protect NOI.