$13,550,000
- Beds
- Unknown
- sq ft
- Unknown
141 Cherry Ave, Carlsbad, CA 92008
141 Cherry Ave
Carlsbad, CA 92008
- 276 days on market
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.
Details
Property type
Lot size
0.34 acres
Price per sq ft
Unknown
Year built
Unknown
Price History
10/04/2023
SanDiego #230019590
Listed
$13,550,000
Schools & Community
Neighborhood:
North Beach
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Status: Active
Tomo last checked: 07/05/2024 at 6:30 PM
Listing updated: 11/03/2023 at 4:14 PM
Listed by: Craig Stewart, Acre Investment Real Estate Phone #: (619) 255-3222
MLS: SanDiego #230019590
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