141-155 Cherry Avenue

Carlsbad, CA 92008 View Map $13,550,000 Schedule a Tour
Sq.Ft.15,000
Year66
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Robert & Joy Aumann

Robert & Joy Aumann

(858) 752-8730
 
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FOR SALE: 141-155 Cherry Avenue Carlsbad CA 92008 | 230019590 |$13,550,000| Call Rob (858) 752-8730 for a TOUR!

Status: Active
Property Type:Com-Res Income
MLS #:230019590
Sq. Feet:15,000
On Site:7 Days
County:San Diego

Listing Agent/Office

Agent:Craig Stewart
Agent Phone:760-809-3626
Office:Acre Investment Real Estate
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.

Mortgage Calculator

$000 Monthly Payment
Loan and interest only.

Detailed Maps

Community Information

Address:141-155 Cherry Avenue, Carlsbad, CA 92008
County:San Diego
Area (MLS Code):Coastal North
Zip Code:92008

Features / Amenities

Features: All Auto Sprinklers, Block Fence, Cable Available, Fully Landscaped, Wood Fence
Heating: Wall

Rooms

Dimensions
Master
Bedroom 2
Bedroom 3
Bedroom 4
Bedroom 5
Breakfast Area
Dining Room
Kitchen
Living Room
Family Room
Extra Room 1
Extra Room 2
Extra Room 3

Property Features

Lot Dimensions:.25 Acres or less
Zoning:R-3
Directions:Google it.

Tax and Financial Info

Actual Operating Expense: $205, 656
Actual Gross Schd Income: $426, 864
Tenant Pays: Electricity, Gas
Terms: Cash, Cash to New Loan

Schools

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141-155 Cherry Avenue Carlsbad,  CA 92008
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141-155 Cherry Avenue Carlsbad, CA 92008
 
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Listing information last updated on April 13, 2024 11:45 AM EST.