141 Cherry Avenue, Carlsbad, CA 92008
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Listed Price :
$13,550,000
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Beds :
N/A
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Baths :
-
Property Size :
N/A sqft
Property Description
Cherry Apartments is located in the desirable beach community of Carlsbad, California. This 17-unit apartment investment was built in 1959 and consists of 14 one-bedroom/one-bath units, 1 two-bedroom/one-bath house, and 2 non-conforming studios. These units are located on three adjoining parcels. The property amenities include off-street parking, lush tropical landscaping, small yards/patios in select units, balconies, and on-site laundry. The interiors feature gas appliances and dual-pane windows. There are storage closets in the carport area and ocean views from some of the units. The property has been well maintained and professionally managed and shows a true pride of ownership. The property’s proximity to the ocean is a great draw for potential renters and results in premium rental rates for each unit. The location of the property is less than 1/2 a block from one of the most desirable beaches in Southern California. It is also a short distance to restaurants, premier shopping malls, and major employers. The Cherry Apartments is a rare investment asset that will provide future appreciation opportunities and steady cash flow for years to come. There are several opportunities for an investor looking to add value: * Remodel and update the interiors of the units and raise rents by $300/$400 per unit. * Remodel the units in rent some or all as short-term vacation rentals. * Scrape the existing structures and build 8 multi-million dollar townhomes * Leave as is and enjoy future appreciation due to the proximity to the beach.
Interior Features
| Bedroom Information |
| Bedrooms |
N/A |
Listing Information
| Address |
141 Cherry Avenue |
| City |
Carlsbad |
| State |
CA |
| Zip |
92008 |
| County |
San Diego |
| Listing Agent |
Craig Stewart DRE #01060001 |
| Courtesy Of |
Acre Investment Real Estate |
| List Price |
$13,550,000 |
| Status |
Active |
| Type |
Commercial |
| Subtype |
Mixed Use |
| Structure Size |
N/A |
| Lot Size |
15,000 |
Listing information courtesy of: Craig Stewart, Acre Investment Real Estate. *Based on information from the Association of REALTORS/Multiple Listing as of Oct 1st, 2024 at 4:07 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
