951 Oak Avenue

Carlsbad CA 92008

12400 sq. ft.

18731 sq. ft.

Multi-Family

Last sold for $5,200,000

Jeff Kane, last sold this property on 31 December 2021 after -3 days on market.

Overview

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 city's 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 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.

Features

12400 sq. ft. floor area

18731 sq. ft. lot size

Multi-Family

Estimated Value

Based on this property and similar multi families sold in Carlsbad over the last 12 months, the estimated median property value of 951 Oak Avenue is $2.71m.

Median value

$2.71m

Estimated value range

$1.24m - $7.6m

Median days on market

Estimated value trend

41%

increase over the last 12 months

Average days on market is based on recent, comparable sales in Carlsbad. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.