| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Poor |
| Demographics | 81st | Best |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 935 Laguna Dr, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 2000 |
| Units | 90 |
| Transaction Date | 2015-06-30 |
| Transaction Price | $10,000,000 |
| Buyer | Coast Village Apartment Homes, LP |
| Seller | Dresdner Allan B Trust |
935 Laguna Dr Carlsbad Multifamily Investment Snapshot
Amenity-rich Urban Core location with a high share of renter-occupied housing in the surrounding neighborhood supports demand resilience, according to CRE market data from WDSuite, though investors should note that neighborhood occupancy trends are mixed and apply to the area rather than this property.
The property sits in an Urban Core neighborhood ranked 25 out of 621 metro neighborhoods (A+), indicating strong location fundamentals relative to the San Diego–Chula Vista–Carlsbad metro. Nearby amenities are a differentiator: grocery access and parks test near the top nationally, with restaurants also in the top percentiles. For investors, this concentration of daily-needs retail and recreation tends to support leasing velocity and retention.
Construction year is 2000 versus a neighborhood average vintage of 1985. Being newer than much of the local stock can provide competitive positioning on unit layouts and systems; however, at 25 years old, investors should still plan for ongoing capital items typical of late-1990s/early-2000s assets to maintain relevance against newer deliveries.
Neighborhood tenure patterns point to a deep renter base: the share of housing units that are renter-occupied is high (top decile nationally). This renter concentration expands the prospective tenant pool and can help stabilize occupancy for a 90-unit asset, though property-level performance will still depend on execution and product fit.
Within a 3-mile radius, demographic statistics show a stable population today with projections for increases in households over the next five years, suggesting a larger tenant base and potential renter pool expansion. Median incomes are strong for the metro, and home values in the neighborhood score in the top percentile nationally, signaling a high-cost ownership market that typically sustains reliance on multifamily housing and can support pricing power. At the same time, neighborhood-level occupancy is below metro medians, indicating the need for disciplined leasing and asset management.
Safety indicators are mixed when benchmarked against the metro and nation. The neighborhood’s crime rank sits in the lower half of the San Diego–Chula Vista–Carlsbad metro (rank 221 out of 621), and national percentiles indicate safety levels below the national median. That said, recent trend data shows year-over-year improvement in both property and violent offense estimates, which is constructive but warrants continued monitoring.
For investors, this translates to prudent assumptions on security measures and community engagement. Comparatively, conditions are not among the metro’s top quartile, but recent directional improvement suggests risk management, not avoidance. Always evaluate property-specific history and operations alongside these neighborhood-level statistics.
Proximity to diverse employers supports commuter convenience and broad renter demand, notably in energy, biotech, and technology. Nearby anchors include NRG Energy, Gilead Sciences, Qualcomm, Celgene, and Sysco.
- NRG Energy — energy (3.3 miles)
- Gilead Sciences — biotech (4.2 miles)
- Qualcomm — semiconductors & wireless (20.4 miles) — HQ
- Celgene Corporation — biotech (20.8 miles)
- Sysco — foodservice distribution (23.2 miles)
Built in 2000 with 90 units averaging 839 square feet, the property is newer than much of the immediate neighborhood stock, offering relative competitiveness while still benefiting from value-preserving upgrades over time. The surrounding area combines top-tier amenity access and a high share of renter-occupied housing, which typically supports occupancy stability and retention. Based on CRE market data from WDSuite, elevated home values in the neighborhood and strong household incomes point to a high-cost ownership market that reinforces multifamily demand.
Forward-looking demographics within a 3-mile radius indicate growth in households, signaling a larger tenant base and potential for steady lease-up, while neighborhood-level occupancy trends below metro medians underscore the importance of strong asset management. Overall, the thesis favors durable demand drivers with measured attention to leasing execution and ongoing capital planning appropriate for an early-2000s vintage.
- Amenity-rich Urban Core location supports leasing velocity and retention.
- High renter-occupied share in the neighborhood indicates deep tenant demand.
- Newer-than-average 2000 vintage with scope for targeted modernization and operational upside.
- High-cost ownership environment sustains multifamily reliance and pricing power.
- Risk: neighborhood occupancy trails metro medians; requires disciplined leasing and asset management.