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In-PersonVirtual Tour
$ 2,875,000
Est. payment | /mo
0.28 Acres Lot
$ 2,875,000
Est. payment | /mo
0.28 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82002701
HOA Y/N No
Year Built 2024
Lot Size 0.282 Acres
Property Description
5.0% CAP RATE! Two brand new (May 2024) 750 Sq. Ft. 2-bedroom/2-bath townhomes, all electric with solar, heatpump, all new everything! Plus Main Building with 5 units ( four 1-bedroom, 1- two-bedroom) that have all been remodeled over the past 5 years (new kitchens, new baths, new flooring, fresh paint, updated plumbing and electric). 3 units just had new flooring and bathrooms installed. On-site parking for all units. This property currently generates $218,820 in Annual Gross Rents ($182,35/month) and a Net Operating Income of $143,597 per year resulting in a 5.0% Cap Rate and a GRM of 13.1. Tenants would very much like to stay. Property Management firm is in place to make this an easy transition for you.
Location
State CA
County Santa Cruz
Area 699 - Not Defined
Zoning Multi-Res
Interior
Heating Electric
Cooling None
Fireplace No
Exterior
Roof Type Composition
Total Parking Spaces 7
Building
Water Public
Schools
School District Other
Others
Tax ID 01814203000
Special Listing Condition Standard
Listed by Ruth Bates • Compass
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Christina & Andre DiMarzo
Broker Associate | Lic# 01398838