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Listed by Mitchell Zurich • Marcus & Millichap, DRE#01870648
$ 2,900,000
Est. payment | /mo
3 Beds
2 Baths
5,756 SqFt
$ 2,900,000
Est. payment | /mo
3 Beds
2 Baths
5,756 SqFt
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 5,756 sqft
Price per Sqft $503
MLS Listing ID ML82062896
Bedrooms 3
Full Baths 2
Year Built 1964
Lot Size 0.321 Acres
Property Sub-Type Five or More Units
Property Description
$400,000 PRICE REDUCTION! Offered at $2,900,000, 119 Clay Street presents an opportunity to acquire a 10-unit apartment property in Santa Cruz. The property features a desirable unit mix of eight (8) one-bedroom and two (2) two-bedroom apartments, with an in-place 5.88% cap rate and 10.71 GRM. The property offers strong current income with upside potential through future rent growth in Santa Cruz's competitive rental market.
Location
State CA
County Santa Cruz
Area East Santa Cruz
Zoning RM
Interior
Heating Wall Furnace
Cooling None
Exterior
Parking Features Carport
Utilities Available Individual Electric Meters
Roof Type Composition
Building
Foundation Concrete Perimeter and Slab
Sewer Sewer Connected
Water Water On Site
Others
Restrictions None
Tax ID 007-402-13-000
Security Features None
Special Listing Condition Not Applicable
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John Faylor
Realtor Lic# 1065896