| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 88th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 940 Melaleuca Ave, Carlsbad, CA, 92011, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1987 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
940 Melaleuca Ave Carlsbad Multifamily Investment
Situated in an A+ Inner Suburb of the San Diego metro, the property benefits from steady renter demand supported by high-cost homeownership and strong local incomes, according to WDSuite s CRE market data. Neighborhood occupancy is stable and the renter-occupied share signals depth in the tenant base for sustained leasing.
Carlsbad s 940 Melaleuca Ave sits in a high-performing neighborhood (A+ rating) that is competitive among San Diego-Chula Vista-Carlsbad neighborhoods, with amenity access that tests in the top quartile nationally. Caf e9s, parks, pharmacies and groceries score above national medians, supporting daily convenience and lifestyle appeal that underpins leasing and renewal velocity.
Schools are a standout strength: the neighborhood s average school rating is at the top of the metro (ranked 1st among 621 neighborhoods) and in the top percentile nationally. For multifamily investors, this school positioning broadens the potential renter pool to households prioritizing education, aiding retention for larger floorplans.
The local housing stock skews premium, with elevated home values relative to the nation and metro. In a high-cost ownership market, this dynamic tends to reinforce reliance on multifamily rentals and can support pricing power and lease stability, especially when paired with neighborhood incomes that rank in the upper tier nationally. Median contract rents in the neighborhood are also premium, but rent-to-income levels remain manageable for many local households a positive for resident retention and revenue consistency.
Vintage context: the property was built in 1987, slightly newer than the neighborhood s average construction year. That positioning offers relative competitiveness versus older inventory, while still leaving room for targeted modernization or value-add upgrades to mechanicals and finishes as part of capital planning.
Tenure patterns indicate a meaningful share of renter-occupied housing units in the neighborhood, which supports a steady multifamily demand base. Within a 3-mile radius, demographic statistics show a large, affluent population with modest recent population softening but stability in average household size; forward-looking projections point to growth in household counts alongside rising incomes factors that can expand the renter pool and support occupancy. This perspective is based on commercial real estate analysis from WDSuite and reflects neighborhood-level trends rather than property-specific performance.
Safety signals are mixed relative to both the metro and nation. The neighborhood s crime profile sits below the national median for safety, but recent trends show meaningful improvement in property offenses (a top-quartile year-over-year reduction nationwide). Violent offense rates are less favorable on a national basis and ticked higher over the past year, suggesting investors should monitor conditions and apply standard security and resident-experience practices.
Interpreting rank and percentile context: the neighborhood s crime rank and national percentiles indicate it is not among the safest in the San Diego metro (621 neighborhoods), yet the direction of property crime has improved. Framing safety at the neighborhood scale rather than block-by-block is appropriate for underwriting and risk management.
Nearby employers span energy, biotech, wireless & semiconductors, and utilities a diverse base that supports renter demand through commute convenience and professional wage density. Specifically, this includes NRG Energy, Gilead Sciences, Qualcomm, Celgene, and Sempra Energy.
- NRG Energy energy (1.4 miles)
- Gilead Sciences biotech (6.9 miles)
- Qualcomm wireless & semiconductors (15.8 miles) HQ
- Celgene Corporation biotech (16.3 miles)
- Sempra Energy utilities (28.0 miles) HQ
940 Melaleuca Ave is a 60-unit asset with notably large average floorplans, well-positioned in an A+ Inner Suburb where premium schools, amenities, and high household incomes support durable renter demand. The 1987 vintage is slightly newer than neighborhood norms, offering competitive positioning versus older stock while preserving value-add potential through selective renovations and systems upgrades.
Neighborhood occupancy is stable and renter concentration provides depth in the tenant base, with a high-cost ownership landscape reinforcing reliance on multifamily housing. According to CRE market data from WDSuite, the area s premium rent and income environment, combined with improving property-crime trends, supports long-term leasing fundamentals, though underwriting should account for elevated home values and mixed safety signals.
- Large-unit layouts and top-rated schools enhance family renter appeal and retention.
- 1987 construction offers competitive positioning with room for targeted value-add upgrades.
- High-income, amenity-rich neighborhood supports pricing power and stable occupancy.
- Diverse nearby employment base (energy, biotech, tech, utilities) underpins leasing demand.
- Risks: mixed safety indicators and premium ownership costs warrant conservative expense and loss assumptions.