For Sale
$9,950,000

150 Walnut AveCarlsbad, CA 92008

8-Unit Coastal Multifamily Investment

Overview

Added:
Dec 11, 2024
Days on market:
115
Prime Carlsbad beachfront location, this 8-unit luxury short-term rental property offers a compelling investment opportunity. The property consists of three buildings, totaling 6,124 square feet on a 13,022 square foot lot. Built in 1959 and recently renovated, it features six two-bedroom units and two additional units (one with one bedroom, one with three bedrooms). The property boasts a renovated courtyard with BBQ facilities and a shared laundry room. Currently operating as a successful vacation rental, it offers a strong NOI of $454,021 (pro-forma NOI of $487,385), a 4.56% cap rate (pro-forma 4.90%), and an asking price of $9,950,000. The property is located at 150 Walnut Ave, Carlsbad, CA 92008, and is offered fee simple, making it suitable for a 1031 exchange. The price per unit is $1,243,750, and the price per square foot is $1,624.76. This exceptional property presents a rare chance to acquire a high-performing, luxury coastal investment in a highly desirable location. The property's proximity to Carlsbad Village provides easy access to fine dining, shopping, and entertainment. This turnkey operation is ready for a new owner to continue its success.

Highlights

  • Prime Carlsbad beachfront 8-unit luxury short-term rental.
  • 6,124 sq ft on a 13,022 sq ft lot; three buildings.
  • Six 2-bedroom units, one 1-bedroom unit, one 3-bedroom unit.
  • Renovated courtyard with BBQ and shared laundry.
  • $9,950,000 asking price; $1,243,750 per unit; $1,624.76 per sq ft.
  • Strong NOI of $454,021 (pro-forma $487,385); 4.56% cap rate (pro-forma 4.90%).

Property Details for 150 Walnut Ave

Property type
Apartment buildings
Square Feet
6,124 SF
Class
A
Year Built
1959
Buildings
3
Stories
2
Units
8

Location Insight

City
Carlsbad
County
San Diego
State
California
Latitude
33.154419
Longitude
-117.3497344
150 Walnut Ave, Carlsbad, California

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150 Walnut Ave
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