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951 Oak Ave Carlsbad, CA 92008
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Key Details
Sold Price $5,200,000
Property Type Single Family Home
Listing Status Sold
Purchase Type For Sale
Square Footage 12,400 sqft
Price per Sqft $419
MLS Listing ID 8N-2110718
Sold Date 12/31/21
Year Built 1957
Lot Size 0.430 Acres
Property Description
This 14 unit multi-family offering located at 951 Oak Ave. in Carlsbad, California. The Carlsbad Oak Avenue Apartments are a 14 unit property located west of Interstate 5 in the heart of the Village of Carlsbad, California. The Oak Ave. apartments consist of 13, 2-Bedroom, 1 bath units and 1 studio unit. This investment allows an owner, investor or experienced developer a chance to achieve the highest and best use for this highly desirable property in a dense rental market. Carlsbad is a coastal city in the North County Region of San Diego County, California. SIGNIFICANT VALUE-ADD OPPORTUNITY There is approximately 50% upside in the current rents which have not been raised in more than three years. Additionally, there is space to add washers and dryers for additional income. New Exterior Paint and Improvements just completed at property. The city is 87 miles south of downtown Los Angeles and 35 miles north of San Diego. Carlsbad is a popular tourist destination and notable home for many businesses in the golf industry. The citys estimated population is 115,382 and the median household income is over $110,000. This is the first time in 30 years this property has been on the market. It is very well located and has a Walk-score of 86. It is deemed a Walker's Paradise where daily errands do not require a car. It is a 13 minute walk to the Coaster. The area is extremely pedestrian friendly with an abundance of restaurants, grocers, and high end chain and boutique retail stores.
Location
State CA
County San Diego
Zoning R-3:Restricted Multiple
Interior
Laundry None
Exterior
Parking Features Gated
Pool None
Community Features Curbs, Sidewalks, Suburban
Building
Lot Description Level with Street, Lot 10000-19999 Sqft, 0-1 Unit/Acre
Sewer Public Sewer
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