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$ 3,000,000
Est. payment | /mo
0.32 Acres Lot
$ 3,000,000
Est. payment | /mo
0.32 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82030413
HOA Y/N No
Year Built 1977
Annual Tax Amount $8,599
Lot Size 0.317 Acres
Property Description
Offered at an attractive 6% cap rate with a proven track record of performance,100% occupied for the past 25 years. This 13-unit apartment property delivers excellent rental history with potential upside through reasonable rent increases. The apartments span two parcels totaling 13,808.52 sq. ft. and include 17 marked parking spaces. Ideally located on a major bus line and just minutes to the Santa Cruz Beach Boardwalk, Municipal Wharf, and downtown Santa Cruz. Convenient access with approximately one mile to Hwy 17 and Hwy 1 (PCH). Additional value may exist through future redevelopment potential, with the possibility to increase height and unit count (buyer to verify). Parcel 1: APN 010-551-29 - 7,797.24 sq. ft. Parcel 2: APN 010-551-30 - 6,011 sq. ft.
Location
State CA
County Santa Cruz
Area 699 - Not Defined
Zoning RM
Interior
Cooling None
Fireplace No
Exterior
Roof Type Composition
Total Parking Spaces 17
Building
Water Public
Schools
School District Other
Others
Tax ID 01055129000
Special Listing Condition Standard
Listed by Paul Zech Coldwell Banker Realty