| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 88th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 905 Melaleuca Ave, Carlsbad, CA, 92011, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1987 |
| Units | 88 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
905 Melaleuca Ave Carlsbad Multifamily Investment
This 88-unit property built in 1987 sits in an A+ rated neighborhood ranking 19th among 621 San Diego metro areas. According to CRE market data from WDSuite, the area maintains 92% occupancy with median household incomes of $171,445 supporting strong rental demand.
The property sits in an A+ rated neighborhood that ranks 19th among 621 neighborhoods in the San Diego metro, placing it in the top quartile nationally across multiple investment metrics. Neighborhood-level occupancy runs at 92.4%, though this has softened slightly over the past five years. The area attracts affluent renters with median household incomes of $171,445, ranking in the 97th percentile nationally and supporting sustainable rental pricing power.
Built in 1987, this property aligns with the neighborhood's average construction year of 1983, indicating consistent building stock that may present value-add renovation opportunities for investors seeking to modernize units and common areas. The neighborhood maintains strong educational appeal with perfect 5.0 school ratings, ranking first nationally, which supports family tenant retention and lease renewal rates.
Demographics within a 3-mile radius show 37.4% of housing units are renter-occupied, creating a substantial tenant base of over 15,500 households. While the population has declined slightly by 1.8% over five years, household income growth of 35.5% demonstrates the area's economic resilience. High median home values of $1.1 million reinforce renter reliance on multifamily housing, as elevated ownership costs sustain rental demand in this coastal San Diego submarket.
The neighborhood offers solid amenity density with cafes, childcare, and restaurants ranking in the 80th+ percentiles nationally, supporting tenant satisfaction and retention. Contract rents average $2,895 for comparable units, with 37.8% growth over five years, though investors should monitor rent-to-income ratios at 19% which may present some affordability pressure for lease renewals.
Property crime rates in the neighborhood show 411 incidents per 100,000 residents annually, ranking 53rd among 621 San Diego metro neighborhoods and placing in the 41st percentile nationally. More encouragingly, property crime has declined sharply by 47.9% over the past year, ranking 23rd in the metro for improvement and reaching the 87th percentile nationally for crime reduction trends.
Violent crime rates are lower at 149 incidents per 100,000 residents, though they rank 180th in the metro and 25th percentile nationally. However, violent crime increased 53.7% over the past year, which investors should monitor for potential impacts on tenant retention and leasing velocity. Overall crime metrics suggest a neighborhood in transition with improving property crime trends but some concerns around violent crime patterns.
The property benefits from proximity to major corporate employers including energy, biotech, and technology companies that provide stable workforce housing demand for professional tenants.
- Nrg Energy — energy services (1.3 miles)
- Gilead Sciences — biotechnology (6.9 miles)
- Qualcomm — technology headquarters (15.9 miles) — HQ
- Celgene Corporation — pharmaceutical (16.4 miles)
- Sempra Energy — utility headquarters (28.1 miles) — HQ
This 1987-vintage property offers value-add potential in a top-quartile San Diego neighborhood where high ownership costs sustain multifamily demand. The area's A+ rating and 19th place ranking among 621 metro neighborhoods reflects strong fundamentals including 92% occupancy, $171,445 median household incomes, and perfect school ratings. While household income growth of 35.5% over five years demonstrates economic strength, investors should consider that rent-to-income ratios at 19% may limit aggressive rent growth strategies.
The neighborhood's 37.4% renter-occupied housing share supports a stable tenant base, while median home values exceeding $1 million reinforce rental demand by keeping ownership out of reach for many households. According to commercial real estate analysis from WDSuite, property crime has improved significantly with a 47.9% decline over the past year, though violent crime trends require monitoring. The property's 1987 construction year aligns with neighborhood norms and presents renovation upside for investors seeking to capture higher rents through unit modernization.
- Top quartile neighborhood ranking with A+ rating and strong demographic fundamentals
- High ownership costs sustain rental demand in premium San Diego submarket
- Value-add potential from 1987 vintage allowing unit and common area modernization
- Perfect school ratings and proximity to major employers support tenant retention
- Risk: Rent-to-income ratios and violent crime trends require active lease management