| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Poor |
| Demographics | 81st | Best |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 975 Laguna Dr, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1972 |
| Units | 20 |
| Transaction Date | 2024-06-26 |
| Transaction Price | $8,700,000 |
| Buyer | EXETER 22547 WY LLC |
| Seller | 975 LAGUNA LLC |
975 Laguna Dr, Carlsbad Multifamily Investment Fundamentals
Positioned in Carlsbad’s amenity-rich urban core, this 20-unit asset benefits from a deep renter base and high-cost ownership dynamics that support leasing stability, according to WDSuite’s CRE market data.
Carlsbad’s urban core scores strong on daily needs and lifestyle access. Among 621 metro neighborhoods, this area ranks 18th for overall amenities, placing it competitive within the San Diego–Chula Vista–Carlsbad metro. Dense retail and dining (restaurants and grocery options rank 31st and 24th of 621, respectively) and abundant parks (16th of 621) help sustain year-round renter demand and support retention.
The neighborhood’s renter concentration is elevated, with a high share of renter-occupied housing units. That depth of renter households signals a broad tenant pool for multifamily assets and can underpin leasing velocity and absorption. Median contract rents in the surrounding neighborhood sit in the upper range nationally, while elevated local home values—among the highest percentiles nationwide—indicate a high-cost ownership market that tends to reinforce reliance on rentals rather than shift demand away from multifamily.
Within a 3-mile radius, households have grown in recent years even as population remained roughly flat, pointing to smaller household sizes and sustained demand for apartments. Forward-looking data show projected growth in population and households through 2028, which supports a larger tenant base and can aid occupancy stability. Household incomes in the 3-mile area are trending higher, which supports rent collections and reduces volatility risk for professionally managed assets.
Vintage considerations: the property’s 2000 construction is newer than the neighborhood’s average vintage (measured at the neighborhood level), indicating relative competitiveness versus older local stock; investors should still plan for system updates typical of a 2000-era asset to maintain positioning and minimize downtime.
Safety metrics are mixed in context. Within the San Diego–Chula Vista–Carlsbad metro, the area’s crime position is competitive among 621 neighborhoods, but national comparisons place it below the median for safety. According to WDSuite’s CRE data, recent year-over-year trends show improvement, with both property and violent offense rates declining, which supports a cautiously constructive view on risk management.
For investors, the practical takeaway is to underwrite with appropriate security, lighting, and access controls, and to weigh improving trend lines alongside broader metro context rather than relying on block-level assumptions.
Proximity to energy, biotech, and technology employers supports commuter convenience and a diversified renter base, aiding tenant retention and weekend leasing traffic. Notable nearby employers include NRG Energy, Gilead Sciences, Qualcomm, Celgene, and Sempra Energy.
- NRG Energy — energy (3.2 miles)
- Gilead Sciences — biotech (4.2 miles)
- Qualcomm — technology (20.4 miles) — HQ
- Celgene Corporation — biopharma (20.8 miles)
- Sempra Energy — utilities (32.5 miles) — HQ
This 20-unit property, built in 2000, competes well against older neighborhood stock and benefits from an amenity-dense location with strong renter concentration. Elevated home values in the area sustain reliance on multifamily housing, while neighborhood-level rents sit in the upper national range, supporting revenue potential with prudent lease management.
Population is expected to expand and household counts to rise within a 3-mile radius through 2028, pointing to a larger tenant base and continued renter pool expansion. At the same time, according to CRE market data from WDSuite, neighborhood occupancy has been softer than metro leaders, making active asset management and targeted renovations important to capture demand and support pricing power.
- 2000 vintage offers competitive positioning versus older local stock, with manageable modernization needs.
- Amenity-rich, park- and retail-accessible location supports leasing velocity and retention.
- High-cost ownership market reinforces sustained multifamily demand and depth of the tenant base.
- 3-mile household and income growth outlook supports occupancy stability and rent collections.
- Risks: neighborhood occupancy trails metro leaders and affordability pressures require disciplined renewals and expense control.