150 Walnut AveCarlsbad, CA 92008

Property Details for 150 Walnut Ave

Year built

1959

Lot size

0.30 AC

Property size (Sq ft)

6,124 SF

Zone code

R-3:RESTRICTED MULTIPLE

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

204-123-08-00

APU

2041230800

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,591,774

  6.5%

  $1,469,330

  7%

  $1,364,378

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,536,254

  Geo Method

  $3,340,970

• Alternative Use

  Use

  Valuation

  Residential

  $1,469,330

  Hospitality

  $1,345,899

  Educational

  $1,119,772

  Medical

  $1,158,283

  Retail

  $1,741,867

Location Insight

City

Carlsbad

County

San Diego

State

California

Latitude

33.1546

Longitude

-117.35

CBSA code

41740

CBSA name

SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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