141 Cherry, Carlsbad, CA 92008 - Berkshire Hathaway HomeServices California Properties

141 Cherry, Carlsbad, CA 92008

$5,100,000 Approx. USD 0 beds, 0 baths
2,728 sqft

Listing Agent


Craig Stewart
Lic#: 01060001
Broker: Courtesy of Acre Investment Real Estate

Agent Remarks

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.

Listing Details

Property type: Com-Res Income (Multi-family)
Status: ACTIVE
MLS# 230019662
Price: $5,100,000
Beds: 0
Baths: 0
2,728 sqft
Lot size: .25 Acres or less
County: San Diego
Zoning: R-3
Construction: Block,Frame,Lath/Plaster,Stucco
Exterior features: All Auto Sprinklers,Block Fence,Fully Landscaped,Wood Deck
Parking description: Carports
Amenities: None
Heating description: Wall
MLS area: CARLSBAD (92008)

Last Updated: 11/15/2024

 Days On Market (DOM): 555

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This listing belongs to the CARLSBAD (92008) MLS area

Lat/Long: 33.150444, -117.346884.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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