Property 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. 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.

Address Map
US
California
SD
Carlsbad
CARLSBAD (92008)
92008
Cherry Avenue
141-155
W118° 39' 11.2''
N33° 9' 1.6''
Additional Info
Acre Investment Real Estate
Craig
Stewart
03-11-2023 23:05:57
30
R-3
.25 Acres or less
20
15,000 Sqft
204-232-15-00
0
17
1958
797059
7935
13550000
3215
31500
3375
0
0
0
0
0
0
1
0
0
17
0 Sqft
0 Sqft
426864.0
School Info
5
Jefferson Elementary School
(760) 331-5500
0.39698074987262 Miles
Grade:
Type: public
N/A
Casa Montessori De Carlsbad
(760) 729-4455
0.45950535001926 Miles
Grade:
Type: private
N/A
Village Montessori School
(442) 333-9359
0.60784147538743 Miles
Grade:
Type: private
N/A
St. Patrick Catholic School
(760) 729-1333
0.65244957560242 Miles
Grade:
Type: private
N/A
Carlsbad Ed-Pacific Rim
(760) 602-8489
0.68438645655983 Miles
Grade:
Type: private
N/A
Carlsbad Child Care Center-Poinsettia
(760) 331-6580
0.68438645655983 Miles
Grade:
Type: private
N/A
Case Educational Program School
(760) 720-4964
0.80949793082879 Miles
Grade:
Type: private
N/A
Army and Navy Academy
(760) 547-5190
0.96904948612475 Miles
Grade:
Type: private
7
Valley Middle School
(760) 331-5300
1.148179005058 Miles
Grade:
Type: public
N/A
LePort Montessori Carlsbad Village
(760) 230-4230
1.2136834975829 Miles
Grade:
Type: private

Commercial-res IncomeFor Sale Price $13,550,000 141-155 Cherry Avenue,

141-155 Cherry Avenue, Carlsbad, California 92008

4 Bedrooms
$13,550,000
Listing ID #230019590
Basic Details
Property Type : Commercial-res Income
Listing Type : For Sale
Listing ID : 230019590
Price : $13,550,000
Bedrooms : 4
Status Category : Active
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