Alta Realty Group Ca, Inc.
Karen Burr, Alta Realty Group Ca, Inc.Phone: (909) 731-4347
Email: karen@karenburr.com
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listing
1 of 56
CommercialFor Sale
$13,550,000
141 Cherry Avenue
Carlsbad, CA 92008
Listed by Craig Stewart DRE#01060001 cstewart@acrecommercial.com Acre Investment Real Estate
MLS: California Regional MLS (CRMLS)
Est. Mortgage
$70,043/mo

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.

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Information courtesy of Acre Investment Real Estate is subject to verification and is not guaranteed.
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