Marisol Apartments - KKR Multifamily 4-Pack

JLL is pleased to present the exclusive offering of Marisol Carlsbad, a 278-unit, 2018-vintage, generational low-density suburban garden-style multifamily community located in Carlsbad, California. The property sits on 15.25 acres and features an average unit size of 1,017 SF, with a unit mix purpose-built for family households. At 94.8% occupancy, 100% market rate, and zero comparable Carlsbad single-asset trades over the past decade, Marisol represents a rare opportunity to acquire institutional-quality scale in one of San Diego County's most supply-constrained submarkets.

Marisol is defined by an architectural character that sets it apart from anything else in the submarket. The property's building design, lush vinery, and richly landscaped grounds evoke the warmth of a Tuscan vineyard — softened by swaying palm trees and the coastal California setting that surrounds it. The result is a living environment that feels at once serene and sophisticated, layered with a best-in-class amenity package including a resort-style pool and spa, 24-hour indoor/outdoor fitness center, co-working lounge, and barbecue pavilion, complemented by unit interiors featuring Whirlpool stainless-steel appliances, polished quartz countertops, wood-style plank flooring, and nine-foot ceilings.

The property's generously sized floor plans — averaging 1,017 SF with three-bedroom homes averaging 1,483 SF — attract and retain an affluent, family-oriented renter base with average household incomes of $184,000 and a 22% rent-to-income ratio, providing meaningful rent growth runway. Tenant stickiness is demonstrated by zero vacancy among three-bedroom units and 64% of residents in units exceeding 1,000 SF having been in place for over a year. Marisol sits within the Carlsbad Unified School District — rated A+ by Niche and commanding a 10% rent premium relative to other North County school districts — and benefits from immediate access to the El Camino Real retail corridor, McClellan-Palomar Airport, and the region's premier life sciences and technology employment base, anchored by a diverse mix of demand drivers spanning government, defense, tech, and biotech.