| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 49th | Fair |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3512 Lake Blvd, Oceanside, CA, 92056, US |
| Region / Metro | Oceanside |
| Year of Construction | 2011 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3512 Lake Blvd Oceanside Multifamily Investment
This 80-unit property built in 2011 sits in a neighborhood with above-average net operating income per unit and strong rental demand, according to CRE market data from WDSuite.
The property sits in an inner suburb neighborhood rated B- that ranks 302nd among 621 San Diego metro neighborhoods. Built in 2011, this asset benefits from relatively modern construction compared to the neighborhood average of 1981, potentially reducing near-term capital expenditure requirements and positioning it competitively against older rental stock.
Rental demand fundamentals appear solid, with 41.3% of housing units occupied by renters, placing the area in the 81st percentile nationally for rental tenure. The neighborhood maintains a 93.9% occupancy rate, though this has declined modestly over five years. Median contract rents of $2,195 rank in the 94th percentile nationally, indicating strong pricing power, while demographic data within a 3-mile radius shows a stable population base of 96,614 with modest growth projected through 2028.
The area scores well for grocery access with 7.13 stores per square mile, ranking in the 98th percentile nationally, and offers strong restaurant density at 19.60 per square mile. However, amenity access is more limited for cafes, parks, and pharmacies. The neighborhood's net operating income per unit averages $10,948, ranking 94th among metro neighborhoods and placing it in the 84th percentile nationally, suggesting above-average operational performance.
Safety metrics present a mixed picture for this Oceanside neighborhood. Property crime rates of 2,296 incidents per 100,000 residents rank 456th among 621 metro neighborhoods, placing the area in the 9th percentile nationally. Violent crime rates of 322 incidents per 100,000 residents rank 388th metro-wide, corresponding to the 14th percentile nationally.
While absolute crime levels appear elevated compared to national averages, both property and violent crime rates declined approximately 6% over the past year, indicating improving trends. Investors should factor these safety considerations into tenant screening, security measures, and insurance planning while monitoring whether the recent downward trajectory continues.
The property benefits from proximity to several major corporate employers that support local workforce housing demand, including biotechnology and technology companies within reasonable commuting distance.
- Gilead Sciences — biotechnology (1.9 miles)
- Nrg Energy — energy services (3.9 miles)
- Qualcomm — technology HQ (20.2 miles)
- Celgene Corporation — biotechnology (20.8 miles)
- Sempra Energy — utilities HQ (32.6 miles)
This 80-unit Oceanside property offers investors exposure to a rental market with strong fundamentals despite some operational considerations. The 2011 construction vintage positions the asset favorably against neighborhood stock averaging 1981, potentially reducing capital expenditure needs while maintaining competitive appeal. Commercial real estate analysis indicates the neighborhood generates above-average net operating income per unit at $10,948, ranking in the 84th percentile nationally, while maintaining solid occupancy at 93.9%.
Demographic projections within a 3-mile radius show population growth continuing through 2028, with household income increases supporting rental demand. The area's 41.3% renter-occupied housing share places it in the 81st percentile nationally, indicating established rental market depth. However, investors should carefully evaluate the elevated crime metrics and monitor recent improvement trends as part of ongoing asset management strategy.
- Above-average NOI performance ranking 84th percentile nationally
- Modern 2011 construction reduces near-term capital requirements
- Strong rental market with 41.3% renter-occupied units
- Projected population and household income growth through 2028
- Risk consideration: Elevated crime rates require active management approach