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Donita Thompson

donitasellssandiego@gmail.com +1(619) 994-9031

$11,050,000

Est. payment - /mo

5,935 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Com-Res Income

Listing Status Active

Purchase Type For Sale

Square Footage 5,935 sqft

Price per Sqft $1,861

MLS Listing ID 230009615

Property Sub-Type Com-Res Income

Property Description

Cherry Apartments is located in the desirable beach community of Carlsbad, California. This 13 unit apartment investment was built in 1959 and consists of 11 one bedroom/one bath units, 1 two bedroom/one bath house, and 1 non-conforming studio. 00 These units are located on two adjoining parcels, APN 204-232-15-00 and APN 204-232-16-00. The property amenities include off-street parking, lush tropical landscaping, and 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 opportunity and steady cash ?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/$400 per 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

Location

State CA

County San Diego

Community Ctv Avail

Area Coastal North

Zoning R-4

Direction Google it

Interior

Heating Wall

Cooling None

Flooring Slab, Wood

Fireplace No

Laundry Leased

Exterior

Parking Features Carports

Carport Spaces 13

View Y/N No

Roof Type Composition,Tar & Gravel

Total Parking Spaces 13

Building

Dwelling Type Apartment

Story 2

Others

Senior Community No

Tax ID 2 APN Pkg

Acceptable Financing Cash, Cash to New Loan, Exchange Up

Listing Terms Cash, Cash to New Loan, Exchange Up

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Listed by Craig Stewart, DRE#01060001 Acre Investment Real Estate

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Donita Thompson

+1(619) 994-9031

Broker Associate | License ID: 01113919

Broker Associate License ID: 01113919

141-145 Cherry Ave Carlsbad, CA 92008

Donita Thompson

Key Details

Location

Interior

Exterior

Building

Others

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141-145 Cherry Ave