Active

141 Cherry

Carlsbad CA, 92008

$5,100,000


$1,869.50 per sqft

Active

1 Bed

2,728 sqft

Commercial

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.

230019662

MLS ID

October 5, 2023

Listed

May 9, 2024

Updated

Map

141 Cherry
Carlsbad CA, 92008

Interior Features

Total Stories

2


Bedrooms

1


Appliances

Range, Refrigerator, Disposal


Laundry Description

Leased


Floor Description

Concrete, Wood, Tile, Vinyl, Carpet


Fireplace

No


Cooling

No


Cooling Description

None


Heating

Yes


Heating Description

Wall Furnace

Exterior/Building Features

Lot Features

All Auto Sprinklers, Landscaped


Roof

Composition, Tar/Gravel

Other Property Details

Area Name

Coastal North


Days on Market

30


Garage

No


Parking

Carport


Parking Total

8


View

No


County

San Diego


Pool

No


Zoning

R-3


Buyer Agency Compensation

1.5%

Listed by Acre Investment Real Estate, Craig Stewart,
Listing Contact: 760-809-3626 

This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego Multiple Listing Service. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. 

© 2024 San Diego Multiple Listing Service. All rights reserved. 

Data last updated 4:09 AM UTC, 5/9/2024

Powered byLuxury Presence