| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 88th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 940 Mariner St, Carlsbad, CA, 92011, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1987 |
| Units | 37 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
940 Mariner St, Carlsbad Multifamily Investment
High household incomes and a low rent-to-income profile in the surrounding neighborhood point to durable renter demand, according to WDSuite’s CRE market data. Elevated ownership costs locally further support renter reliance on quality multifamily housing.
Positioned in Carlsbad’s Inner Suburb, the neighborhood scores an A+ and ranks 19 of 621 across the San Diego-Chula Vista-Carlsbad metro—competitive among metro neighborhoods. Strong local schools stand out, with the average rating ranked 1 of 621 and at the top of national distributions, a factor that typically supports family-oriented leasing and retention.
Amenities are a differentiator: cafes, parks, pharmacies, and childcare density all sit in upper national percentiles, enhancing day-to-day convenience for residents. Restaurant and grocery access are likewise above national medians, underpinning livability that helps properties compete for renewals rather than relying on concessions, based on commercial real estate analysis from WDSuite.
Housing stock skews slightly newer than the metro average, and the subject’s 1987 vintage positions it relatively well versus older local inventory. That said, investors should still plan for targeted modernization to keep finishes and systems competitive against newer deliveries.
Tenure patterns indicate depth in the renter pool: the neighborhood’s renter-occupied share is approximately in the low-40% range (measured for the neighborhood, not the property), which supports stable multifamily absorption. Within a 3-mile radius, population is broadly stable while household counts are set to rise and average household size to edge lower over the next five years—an evolution that can expand the renter base and support occupancy.
Home values are elevated relative to national benchmarks, while the neighborhood’s rent-to-income ratio sits near the lower third nationally. For investors, that combination tends to reinforce rental demand and offers some cushion on pricing power and lease management, particularly at well-maintained, well-located assets.
Safety signals are mixed and should be viewed comparatively across the metro. The neighborhood’s crime rank is 97 of 621 in the San Diego-Chula Vista-Carlsbad metro, indicating room for improvement versus many peer neighborhoods. Nationally, overall safety sits modestly below the median.
Recent trends are noteworthy: estimated property offenses declined sharply year over year (Top quartile nationally for improvement), while violent-offense indicators remain below national medians. For underwriting, consider standard security measures and operating practices that align with comparable submarkets while monitoring trend data from WDSuite.
Proximity to life sciences, energy, and technology employers broadens the professional renter base and supports retention through commute convenience. Notable nearby employers include NRG Energy, Gilead Sciences, Qualcomm, Celgene, and Sysco.
- NRG Energy — energy services (0.5 miles)
- Gilead Sciences — biopharma (6.3 miles)
- Qualcomm — wireless & semiconductors (16.7 miles) — HQ
- Celgene Corporation — biopharma (17.1 miles)
- Sysco — food distribution (19.7 miles)
This 37-unit property’s location in a top-ranked Carlsbad neighborhood combines strong schools, convenient amenities, and a renter base supported by high local incomes. According to CRE market data from WDSuite, neighborhood occupancy is steady in the low-90% range with rents positioned near the top of national distributions, while rent-to-income sits near the lower third—an advantageous mix for pricing and retention. Elevated for-sale values in the area further sustain reliance on multifamily housing.
Built in 1987, the asset is slightly newer than the neighborhood average and competes well against older stock; targeted renovations and system updates can unlock value-add potential without the cost basis of new construction. Within a 3-mile radius, projections indicate modest population change but a meaningful increase in total households and smaller household sizes—conditions that can expand the renter pool and support occupancy stability over time. Key risks include mixed safety readings and premium rent levels that warrant attentive lease management.
- High-income renter base and elevated ownership costs support durable demand
- 1987 vintage offers value-add through targeted upgrades versus older local stock
- Strong schools and amenity access aid lease retention and absorption
- Household growth and smaller household sizes (3-mile radius) expand the tenant base
- Risks: mixed safety metrics and premium rents require proactive lease and expense management