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Listed by Paul Zech • Coldwell Banker Realty
$ 3,000,000
Est. payment | /mo
6,047 SqFt
$ 3,000,000
Est. payment | /mo
6,047 SqFt
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 6,047 sqft
Price per Sqft $496
MLS Listing ID ML82030413
Style Ranch
Year Built 1977
Lot Size 0.317 Acres
Property Sub-Type Five or More Units
Property Description
Currently at 6% cap rate, 100% occupied for the last 25 years. Excellent rental and income history with potential room for reasonable rent increases. The 13 apartments sit on two parcels with over 13,808.52 sq. ft. with seventeen marked parking spaces. Located on a major bus line, close to Santa Cruz Beach Boardwalk, Municipal Wharf and the downtown village of Santa Cruz. One (1) mile to Highway 17 and CA Highway 1 (PCH). These two (2) parcels could possibly be redeveloped to increase height and number of units. Parcel one APN 010-551-29 is 7,797.24 sq. ft. Parcel two APN 010-551-30 is 6,011 sq. ft.
Location
State CA
County Santa Cruz
Area East Santa Cruz
Building/Complex Name Castle Court Apartments
Zoning RM
Interior
Heating Other
Cooling None
Exterior
Parking Features Assigned Spaces, Off-Street Parking, Uncovered Parking
Utilities Available Public Utilities
Roof Type Composition
Building
Foundation Concrete Perimeter
Sewer Sewer - Public, Sewer Connected
Water Public
Others
Restrictions Age - No Restrictions
Tax ID 010-551-29-000
Security Features None
Special Listing Condition Not Applicable
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