26512661 Fresno Street, Santa Cruz, CA, CA 95062
- $4,245,000
- List Price
- $4,245,000
- Status
- ACTIVE
- MLS#
- ML82053491
- County
- Santa Cruz
- Zoning
- RM-5-PP
- Year Built
- 1970
- Square Feet
- 6,656
- Lot Size (acres)
- 0.6900000000000001
- Lot Location
- Level
- Days on Market
- 18
- Property Type
- Commercial
Property Description
EXCELLENT OPPORTUNITY WHETHER A DEVELOPER OR AN INVESTOR. 2651-2661 Fresno Street is a rare jewel in the heart of Santa Cruz's coveted 26th Ave neighborhood, just 0.3 miles from the beach & surrounded by the coastal lifestyle that makes this pocket so desirable. For a developer, the opportunity is exceptional: feasibility study recommends redevelopment into 3-story townhomes, w/ Option A identifying a 13-unit townhouse concept utilizing State Density Bonus Laws. While pursuing entitlements, the property offers the rare advantage of in-place income, generating $26,000+ per month from 8 updated, fully leased residential units. For an investor, the existing asset is equally compelling. The upside or future opportunity to secure cash flow & retain the upside to sell, entitle or develop for add'l value. The property has updated kitchens & baths, private fenced-in yards, large common area w/ chairs & fire pit, fresh exterior paint & new landscaping, separate gas & electrical meters, 2 laundry rooms w/ app-operated payment, 8 carports & 10 onsite parking. In a market defined by limited housing supply, strong rental demand & exceptional beach proximity, Fresno Street offers immediate income today w/ a seductive path toward future upside tomorrow. Enjoy!
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Additional Information
- Taxes
- $64,448
- Parcel Number
- 02826350000
- Gross Scheduled Income
- $321,245
- Lot Features
- Level
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- None
- Roof
- Bitumen, Composition, Fiberglass, Shingle
- Parking Spaces
- 10
- Water
- Public
- School District
- Other
- Elementary School
- Other
- Middle School
- Other
- High School
- Soquel
Listing courtesy of Listing Agent: Helen Pastorino (hpastorino@pertria.com) from Listing Office: Pertria.
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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.