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$3,600,000
Est. payment /mo
4,922 Sqft Lot
UPDATED:
12/09/2024 02:58 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML81979466
HOA Y/N No
Year Built 1978
Annual Tax Amount $38,535
Lot Size 4,922 Sqft
Property Description
Meticulously maintained 9 unit property, 160 Park Place is a standout investment opportunity in the heart of Santa Cruz. The building features an ideal floorplan mix with 8 townhome style 1-bedroom/1-bath units with vaulted ceilings, and one studio, attracting a mix of stable, long-term tenants. Additionally, there are nine covered parking spaces and a large storage room with potential for conversion to an on-site income producing laundry area. Recent upgrades include a new roof, updated windows, termite fumigation, new exterior paint, and sewer lateral improvements. Each unit is 100% electric with separate meters, allowing tenants to pay for their own power while the owner covers trash and water as well as hot water through a central gas water heater. Ideally located just minutes from the beach and major commute routes, 160 Park Place enjoys an excellent walkability score. With many long-term tenants in place and an impressive income-to-expense ratio, this property is a robust addition to any investment portfolio. The current insurance partner is ready to provide coverage for the new owner. Complete marketing package, including financials, inspections, and disclosures available. Don't miss this exceptional chance to own a turn key high performing investment property.Est 5.2% CAP
Location
State CA
County Santa Cruz
Area 699 - Not Defined
Zoning Mutlires
Interior
Heating Electric
Cooling None
Fireplace No
Exterior
Carport Spaces 9
Utilities Available Natural Gas Available
Roof Type Composition
Building
Water Public
Schools
School District Other
Others
Tax ID 00729229000
Special Listing Condition Standard
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Listed by Daniel Oster • Coldwell Banker Realty
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Scott Woodburn
Real Estate Professional Knowledge Broker | License ID: 01185194
Real Estate Professional Knowledge Broker License ID: 01185194