| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 88th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 940 Sea Cliff Dr, Carlsbad, CA, 92011, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1987 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
940 Sea Cliff Dr Carlsbad Multifamily Opportunity
Coastal Carlsbad’s high-income renter base and competitive neighborhood positioning suggest durable demand and steady occupancy, according to WDSuite’s CRE market data.
Situated in Carlsbad’s Inner Suburb fabric, the neighborhood ranks 19 out of 621 within the San Diego metro—competitive among San Diego neighborhoods—supported by an A+ neighborhood rating. Amenity access trends favorably as well, with overall amenities in the top quartile nationally and strong depth in cafes, parks, pharmacies, and grocery options by national percentile benchmarks.
Schools are a notable strength: the neighborhood’s average school rating sits at the top of the metro (ranked 1 of 621), which often supports family-oriented renter retention and longer tenancy. Median contract rents in the neighborhood are elevated versus national norms, reflecting a high-cost ownership market and reinforcing renter reliance on multifamily housing for access to the area.
Tenure data indicates meaningful renter concentration (share of housing units that are renter-occupied), providing depth for leasing. Neighborhood occupancy is healthy and broadly in line with national performance, suggesting relatively stable operations with typical seasonality. For investors, this combination points to a sizeable tenant base and pricing supported by location quality rather than only concessions.
Within a 3-mile radius, demographics show a largely stable population over the past five years with modest shifts in age mix. Looking ahead, forecasts indicate population edging down while total households trend higher; this implies smaller household sizes and demographic mix shifts rather than new unit creation, which can still expand the renter pool and support occupancy stability. High household incomes at both current and projected levels point to continued ability to pay and reduce near-term leasing volatility.
Vintage context: built in 1987, the property is somewhat newer than the neighborhood average vintage (1983). Investors can expect relative competitiveness versus older product nearby, while still planning for modernization of aging systems and selective value-add to meet current renter expectations.
Safety indicators are mixed and should be evaluated in context. Within the San Diego metro, the neighborhood’s crime rank is 97 out of 621; lower ranks indicate comparatively higher reported crime, so investors may want to underwrite conservative security and insurance assumptions. Nationally, the area trends around mid-pack for property-related safety, while recent data shows a notable decline in estimated property offenses year over year—an improving directional trend. Violent-offense comparisons track below national medians, so ongoing monitoring is prudent.
Overall, the multi-year trend matters more than a single-year snapshot. Recent improvement in property-crime estimates suggests conditions may be stabilizing, but underwriting should incorporate standard risk mitigation consistent with coastal Southern California assets.
Nearby energy, biotech, and utilities employers provide a diversified white-collar employment base that supports renter demand and commute convenience for residents. The list below highlights major employers within practical driving distance that can influence leasing stability.
- Nrg Energy — energy (0.5 miles)
- Gilead Sciences — biotech (6.3 miles)
- Qualcomm — wireless & semiconductors (16.7 miles) — HQ
- Celgene Corporation — biotech (17.1 miles)
- Sempra Energy — utilities (28.9 miles) — HQ
This 27-unit 1987-vintage asset benefits from a high-income coastal location with strong school quality, robust amenity access, and a renter base that supports leasing durability. Elevated home values in the neighborhood tend to sustain multifamily demand by making rental the more accessible option for many households, which can bolster retention and pricing discipline over time. According to CRE market data from WDSuite, neighborhood occupancy is healthy and comparable to national norms, aligning with the area’s competitive standing within the San Diego metro.
From an operational perspective, the property’s slightly newer-than-average vintage for the area can be positioned against older stock, while investors should plan for system upgrades and selective value-add to meet current renter expectations. Demographic indicators within a 3-mile radius show relatively stable population levels and potential growth in household counts, implying a steady or expanding tenant base even as household sizes adjust.
- Coastal Carlsbad location with top-of-metro school ratings supports tenant retention and leasing stability.
- High-cost ownership market reinforces multifamily demand and pricing power potential.
- Healthy neighborhood occupancy and competitive standing within the San Diego metro.
- 1987 vintage offers relative competitiveness versus older stock with targeted modernization upside.
- Risk: Safety indicators mixed at the metro rank level; underwrite for standard security and insurance measures.