328 Ocean Street, Santa Cruz, CA, CA 95060
- $4,100,000
- List Price
- $4,100,000
- Status
- ACTIVE
- MLS#
- ML82052870
- County
- Santa Cruz
- Zoning
- RM
- Year Built
- 1977
- Square Feet
- 6,047
- Lot Size (acres)
- 0.317
- Days on Market
- 24
- Property Type
- Commercial
Property Description
5.1 Cap Rate: Two rental properties total 14 units. This listing and its income/expenses include 319 Jessies St; a 3 bed, 2 bath 1,475 sq. ft. attached 2 car garage located directly behind 328 Ocean St. Offered with a proven track record of performance,100% occupied for the past 25 years. These combined 14-units deliver an excellent 25 year 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. Both parcels do have strong future increased unit density development allowed by city (buyer to confirm w/ their plans) both properties can be purchase separately. Currently all tenants are on month to month rental agreements.
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Additional Information
- Taxes
- $38,120
- Parcel Number
- 01055129000
- Gross Scheduled Income
- $325,668
- Cooling
- Yes
- Cooling Description
- None
- Roof
- Composition
- Parking Spaces
- 17
- Water
- Public
- School District
- Other
- High School
- Santa Cruz
Listing courtesy of Listing Agent: Paul Zech (paul.zech@cbrealty.com) from Listing Office: Coldwell Banker Realty.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.