| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 76th | Best |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3573 Roosevelt St, Carlsbad, CA, 92008, US |
| Region / Metro | Carlsbad |
| Year of Construction | 1987 |
| Units | 42 |
| Transaction Date | --- |
| Transaction Price | $2,875,000 |
| Buyer | 5% ROANE MICHAEL J JR NSNS ROANE |
| Seller | --- |
3573 Roosevelt St Carlsbad Renter-Driven Multifamily
Neighborhood data points to sustained renter demand supported by high ownership costs and strong local amenities, according to WDSuite’s CRE market data.
Located in Carlsbad’s Urban Core, the neighborhood ranks 92 out of 621 San Diego metro neighborhoods (top quartile among 621 metro neighborhoods) with a balanced mix of dining, groceries, parks, and everyday services. Restaurant and cafe density trends in the top quartile nationally, and park access is among the highest nationwide—factors that typically support leasing interest and retention for multifamily assets.
Home values in the neighborhood are elevated versus national norms, and value-to-income ratios are among the highest nationally. In practical terms, the high-cost ownership market reinforces reliance on rentals, which can deepen the tenant base and support pricing power for well-positioned properties.
The neighborhood’s housing stock skews slightly newer than the subject’s 1986 vintage (average construction year is close to 1988). For investors, a 1986 asset often benefits from targeted renovations or systems modernization to remain competitive against newer comparables, creating potential value-add upside with disciplined capital planning.
Renter-occupied housing accounts for a majority share of local units, indicating a sizable renter pool. While the neighborhood’s occupancy rate is measured at the neighborhood level and sits below national medians, household counts within a 3-mile radius have grown over the last five years and are projected to increase further, which can support a larger tenant base and stabilize leasing over a longer horizon. Average school ratings trend around mid-range locally, which is consistent with many infill coastal submarkets in the region.
Relative to other areas, neighborhood safety metrics trend below both metro and national medians (crime rank places the area on the higher-crime side among 621 San Diego metro neighborhoods, and national safety percentiles are lower). However, recent data indicates a notable year-over-year decline in property offenses, suggesting some improvement in trend even as violent offense measures remain elevated versus national norms. As always, investors should evaluate block-level patterns over time, but at a neighborhood scale the signal points to below-average safety with recent improvement in property crime.
Proximity to regional employers in energy, biotech, and technology supports a diverse workforce tenant base and commute convenience for renters, including NRG Energy, Gilead Sciences, Qualcomm, Celgene, and Sysco.
- NRG Energy — energy (2.6 miles)
- Gilead Sciences — biotech (4.7 miles)
- Qualcomm — semiconductors & wireless (19.7 miles) — HQ
- Celgene Corporation — biopharma (20.1 miles)
- Sysco — food distribution (22.6 miles)
3573 Roosevelt St is a 42-unit, 1986-vintage multifamily asset positioned in a high-amenity, coastal Carlsbad neighborhood where elevated ownership costs tend to sustain rental demand. The area’s renter concentration and strong restaurant, cafe, grocery, and park access compare favorably to national benchmarks, supporting leasing interest and retention. Based on CRE market data from WDSuite, neighborhood occupancy runs softer than national norms, but a growing 3-mile household base and proximity to diversified employers can help support long-run demand.
Vintage relative to nearby stock (average year built near 1988) suggests room for focused value-add—interiors, common areas, and systems upgrades—to sharpen competitive positioning against newer assets. Investors should also account for rent-to-income pressures and neighborhood safety perceptions in underwriting and lease management to preserve occupancy stability.
- High-cost ownership market supports renter reliance and pricing power
- Strong amenity density (dining, groceries, parks) aids leasing and retention
- 1986 vintage offers targeted value-add potential versus slightly newer local stock
- Diverse employer base within commuting range supports tenant demand
- Risks: below-median neighborhood safety and rent-to-income pressures require active management