For Sale
$4,250,000

3366 Roosevelt St Carlsbad, CA 92008

10-unit value-add opportunity, prime location.

Overview

Added:
Dec 11, 2024
Days on market:
134
This exceptional 10-unit apartment building presents a compelling value-add investment opportunity in the highly desirable Carlsbad Village. Boasting a prime location just blocks from shops, restaurants, and the beach, this two-story, 1964-built complex offers significant upside potential. The property features 4,944 square feet of net rentable space situated on a 9,145 square foot lot, with 11 off-street parking spaces. Currently generating a 4.20% cap rate and a NOI of $179,357, a pro-forma analysis projects a 5.60% cap rate and a NOI of $238,034, reflecting a substantial 24% rental upside. Each of the ten units is a single-level, one-bedroom, one-bathroom apartment. Community amenities include a common lounge/BBQ area and an on-site laundry facility. The property is zoned V-B and has an asking price of $4,250,000, or $425,000 per unit. This coastal legacy asset offers low maintenance and high potential for rental income growth in one of San Diego's most sought-after coastal markets. The APN is 204-092-24-00.

Highlights

  • Prime Carlsbad Village location, steps from shops, restaurants, and the beach.
  • Value-add opportunity with significant rental upside potential; projected 5.6% cap rate, 24% NOI increase.
  • Currently generating a 4.2% cap rate and $179,357 NOI.
  • Low-maintenance, coastal legacy asset.
  • Ten (10) one-bedroom, one-bathroom units.
  • On-site laundry facilities.

Property Details for 3366 Roosevelt St

Property type
Apartment buildings
Year Built
1964
Buildings
1
Stories
2
Units
10

Location Insight

City
Carlsbad
County
San Diego
State
California
Latitude
33.156426
Longitude
-117.3441835

FAQs

What type of property is this?
Apartment building - 10-unit value-add opportunity, prime location.
Where is the apartment building located?
The property is located at 3366 Roosevelt St Carlsbad, CA.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: Prime Carlsbad Village location, steps from shops, restaurants, and the beach.; Value-add opportunity with significant rental upside potential; projected 5.6% cap rate, 24% NOI increase.; Currently generating a 4.2% cap rate and $179,357 NOI.
How can I contact the broker?
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3366 Roosevelt St
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