Active
141 Cherry
Carlsbad CA, 92008
$5,100,000
Active
Commercial
Listed by Craig Stewart with Acre Investment Real Estate 760-809-3626
Cherry Apartments are located in the desirable beach community of Carlsbad, California. This 7 unit apartment investment was built in 1958 and consists of 6 one bedroom/one bath units, and 1 non-conforming studio unit. The property amenities include off -street parking, lush tropical landscaping, and small yards/patios in select units and balconies. 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 opportunity and steady cash fl ow 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/$400per unit. * Remodel the units in rent some or all as short-term vacation rentals. * Scrape the existing structures and build 4-8 multi-million dollar townhomes * Leave as is and enjoy future appreciation due to proximity to the beach.
230019662SD
MLSⓇ ID
October 5, 2023
Listed
October 4, 2024
Updated
Map
141 Cherry
Carlsbad CA, 92008
Interior Features
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.11 Acres
Roof
Composition, Tar/Gravel
Other Property Details
Area Name
92008 - Carlsbad
Days on Market
362
Garage
No
Parking Total
8
View
No
County
San Diego
Pool
No
Zoning
R-3
Listing Contact: 760-809-3626
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/4/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 10/4/2024 at 2:14 AM UTC