| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 76th | Best |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3515 Roosevelt St, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1985 |
| Units | 34 |
| Transaction Date | 2007-08-01 |
| Transaction Price | $6,800,000 |
| Buyer | Glenn L. Goldman Family Trust |
| Seller | Linda Olsoe |
3515 Roosevelt St, Carlsbad Multifamily Investment
Neighborhood data points to a deep renter base and amenity-driven demand in Carlsbad’s urban core, with elevated ownership costs reinforcing reliance on rentals, according to WDSuite’s CRE market data. These indicators suggest durable leasing fundamentals for investors focused on stabilized occupancy and disciplined rent management at the neighborhood level.
Livability supports renter appeal in this Urban Core setting of the San Diego–Chula Vista–Carlsbad metro. Neighborhood amenities are a clear strength: parks density sits in the top quartile nationally, and food access is competitive with high restaurant and grocery availability. Cafes are plentiful relative to U.S. norms, while childcare and pharmacy options are more limited, which may shape the resident mix and service expectations.
For investors, the rental landscape is defined by a high share of renter-occupied housing at the neighborhood level, indicating depth in the tenant base and potential leasing stability. Neighborhood home values are elevated compared with national benchmarks, a high-cost ownership context that typically sustains demand for multifamily units and can support pricing power when managed carefully.
Occupancy measured for the neighborhood trends below national norms, so lease-up pacing and renewal strategies merit attention. At the same time, neighborhood-level operating performance indicators (including NOI per unit standing above many U.S. peers) point to competitive fundamentals when properties are well-positioned. Average school ratings are mid-range for the metro, aligning with a broad renter profile rather than being a singular demand driver.
Property vintage is 1985, compared with a neighborhood average construction year of 1988. This slightly older profile suggests potential value-add through modernization and selective capital projects to enhance competitiveness against newer inventory.
Demographic statistics aggregated within a 3-mile radius show modest recent population growth alongside a rising household count, which expands the local renter pool and supports occupancy stability. Forecasts indicate additional population and household increases over the next five years, reinforcing demand for rental housing; investors should underwrite with attention to rent-to-income dynamics and product positioning rather than assuming outsized rent gains.
Safety indicators for the neighborhood sit below the national median, with both violent and property offense measures weaker than many U.S. areas. Investors should incorporate prudent security, lighting, and access-control considerations in operations and underwriting.
Recent trend data offers a constructive note: estimated property offenses have declined year over year, a positive directional shift that aligns with improving conditions in parts of the metro. Continued monitoring at the neighborhood level is advisable to validate whether this improvement is durable.
Proximity to energy, biotech, and wireless employers supports commuter convenience and helps deepen the renter pool for workforce and professional households. The following nearby employers anchor demand within practical commute ranges.
- Nrg Energy — energy (2.6 miles)
- Gilead Sciences — biopharma (4.7 miles)
- Qualcomm — wireless & semiconductors (19.4 miles)
- Qualcomm — wireless & semiconductors (19.7 miles) — HQ
- Celgene Corporation — biotech (20.1 miles)
3515 Roosevelt St is a 34-unit, 1985-vintage asset in Carlsbad’s urban core, positioned amid strong amenity access and a renter-heavy neighborhood context. Elevated neighborhood home values point to a high-cost ownership market that tends to sustain multifamily demand and bolster renewal prospects when pricing is aligned with value. Based on CRE market data from WDSuite, neighborhood occupancy trends are softer than national norms, but renter concentration and amenity strength help offset demand risk when assets are well-operated and appropriately capitalized.
With an older-than-average vintage relative to the immediate area, the property presents a practical value-add path through modernization and systems upgrades to compete with newer stock. Within a 3-mile radius, population and households are expanding, supporting a larger tenant base and reinforcing long-run leasing stability; underwriting should balance this with rent-to-income considerations to manage retention and minimize turnover.
- Amenity-rich urban core location with strong food, park, and grocery access supporting renter appeal
- High neighborhood renter concentration and elevated ownership costs reinforce multifamily demand
- 1985 vintage offers value-add potential through unit/interior modernization and building systems updates
- Expanding 3-mile population and household counts enlarge the tenant base and support occupancy
- Risks: neighborhood occupancy below national norms and affordability pressure require disciplined pricing and retention strategy