141-155 Cherry Avenue
141-155 Cherry Avenue
$13,550,000
3
3
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Description
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....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.
- Listed by Craig Stewart • DRE #01060001 • Acre Investment Real Estate
Property Details for 141-155 Cherry Avenue
City Postal ID
CARLSBAD (92008)
Location
LISTING UPDATED: 11/03/2023 04:05 PM
Property Details for 141-155 Cherry Avenue
Status | Active |
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MLS # | 230019590 |
Days on Market | 207 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Commercial-Res Income / Apartment |
Year Built | - |
Lot Size | 0.34 AC / 15,000 SF |
County | San Diego County |
Location
Building Information for 141-155 Cherry Avenue
Stories-Residences-Year Built-Building Size-Lot Size0.34 AC / 15,000 SF
Payment Calculator
$73,948 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 141-155 Cherry Avenue
Property History for 141-155 Cherry Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 141-155 Cherry Avenue
This home is within Carlsbad Unified School District.
Rating | School | Type | Grades | Distance |
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Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
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Jefferson Elementary School PublicK to 5 | ||
Valley Middle School Public6 to 8 | ||
Sage Creek High School Public9 to 12 | ||
Carlsbad High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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