141 Cherry Avenue
- Amazing Location - Less than 1/2 Block to the Beach
- Two Units Have Yards & Patios
- Perfect Candidate for Conversion to Vacation Rentals
- No Deferred Maintenance
- Under-Market Rents - Room for Revenue Growth
Property Description
ACRE Investment Real Estate Services is proud to present the Cherry Apartments located in the desirable beach community of Carlsbad, California. This 7 unit apartment investment was built in 1959 and consists of 6 one bedroom, one bathroom units and 1 non-conforming studio. The property amenities include off-street parking, lush tropical landscaping, and small yards/patios in select units, balconies, and storage units. 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 flow for years to come.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $4,000,000 |
| No. of Units: | 7 |
| Average Occupancy: | 2.54 |
| Year Built: | 1959 |
| Lot Size: | 0.15 Acres |
| Opportunity Zone: | No |
| Price per unit: | $571,429 |
| Property Website | Click Here |
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