141-145 Cherry Apartments

Highlights:

• 3 Separate Parcels
• Ocean Views from Select Units
• Amazing Location - Less than 1/2 Block to the Beach
• Several Units Have Yards & Patios
• Perfect Candidate for Conversion to Vacation Rentals
• No Deferred Maintenance
• Under-Market Rents - Room for Revenue Growth

Description:

ACRE Investment Real Estate Services is proud to present the Cherry Apartments located in the desirable beach community of Carlsbad, California. This 16-unit apartment investment was built in 1959 and
consists of 13 one-bedroom, one-bathroom units, 1 two-bedroom, one-bath unit, 1 one-bedroom, one-bath non-conforming unit, and 1 non-conforming studio. 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.

Carlsbad, California is a beautiful coastal city located in San Diego County, Southern California. Known for its stunning beaches, scenic coastal views, and mild Mediterranean climate, Carlsbad is a popular destination for tourists and a desirable place to live.

The city of Carlsbad stretches along a 7-mile stretch of the Pacific Ocean coastline, providing residents and visitors with access to pristine sandy beaches and breathtaking sunsets. Popular beaches in Carlsbad include Carlsbad State Beach, also known as Tamarack Beach, and South Carlsbad State Beach, which offers camping facilities.

Carlsbad is home to several notable attractions and landmarks. One of the most famous is LEGOLAND California Resort, a theme park that caters to families with children and features numerous LEGO-themed rides, shows, and exhibits. Another prominent destination is the Flower Fields at Carlsbad Ranch, where visitors can witness colorful displays of blooming ranunculus flowers during the spring season.

The city has a vibrant downtown area known as Carlsbad Village, which offers a mix of charming shops, boutiques, restaurants, and art galleries. It's a great place to explore, shop, and dine while enjoying the relaxed coastal atmosphere. Additionally, the Carlsbad Premium Outlets provide a wide range of shopping options for those looking for discounted designer brands.

Carlsbad is also renowned for its golf courses, including the world-class La Costa Resort and Spa, which has hosted numerous prestigious tournaments. Golf enthusiasts can enjoy the mild weather and stunning views while playing on challenging courses.

In addition to its natural beauty and attractions, Carlsbad is home to a thriving business community. The city hosts many technology, biotech, and healthcare companies, making it an important hub for innovation and employment opportunities.

The residents of Carlsbad enjoy a high quality of life with excellent schools, numerous parks and recreational areas, and a strong sense of community. The city is committed to preserving its natural environment and has implemented various sustainability initiatives.

Overall, Carlsbad, California offers a perfect blend of coastal beauty, recreational activities, cultural attractions, and a thriving community, making it a highly desirable place to visit or call home.

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