141 Cherry Avenue

141 Cherry Avenue, Carlsbad, CA

$5,100,000

Price

1.8%

Cap Rate

$92,006.48

NOI

Gallery
Street
Map
Overview
Cap Rate
1.8%
NOI
$92,006.48
Building Size
2,728 sqft
Lot Area
0.1464 acres
Occupancy
100%
Units
7
Year Built
1959
Floors
2
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.

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.

Highlights
  • Ocean Views from Select Units
  • 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
Location
Gallery