Active MLS # 230019662SD | Listed by Craig Stewart with Acre Investment Real Estate
141 Cherry is a $5,100,000 home on a 0.11 acre lot located in Carlsbad, CA.
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.
| #Carport Spaces | 7.0 |
| Heating Types | Wall Furnace Heating - Yes |
| # Parking Spaces | 8 |
| Parking Types | Carport - Yes parking116 |
| Roof | Composition Tar Gravel |
| Construction Types | Block Frame Plaster Stucco |
| Attribution Contact | 619-255-3222 |
| Financial Terms | Cash financialterm335 |
| Property Type | Commercial Sale |
| Property Sub Type | Mixed Use |
| HOA Fee | $0.00 |
| Taxes | $0.00 |
| County | san diego |
| Elementary School | |
| Middle School | |
| High School | |
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