141 Cherry, Carlsbad, California

$5,100,000

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0.11

Acres

About 141 Cherry

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.

Features of 141 Cherry

MLS® # 230019662
Price $5,100,000
Acres 0.11
Type Commercial
Sub-Type Com-Res Income
Status ACTIVE

Community Information

Address 141 Cherry
Area CARLSBAD (92008)
City Carlsbad
County San Diego
State California
Zip Code 92008

Amenities

Amenities None
Parking Spaces 8
Parking Carports

Interior

Heating Wall
Cooling None
# of Stories 2
Stories 2 Story

Exterior

Exterior All Auto Sprinklers, Block Fence, Fully Landscaped, Wood Deck
Roof Composition, Tar & Gravel
Construction Frame, Lath/Plaster, Stucco, Block

Additional Information

Date Listed October 4th, 2023
Days on Market 30
Zoning R-3
Short Sale No

Listing Details

OfficeAcre Investment Real Estate

Listing Map

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