Delightful Village of 6 Residences!
5 Unit Apartment Building | $3,500,000 ($700,000/Unit) | 3.77% Cap Rate | Santa Cruz, CA 95065
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $3,500,000
- Property Type
-
Multifamily
- Square Feet
- 5,672 SF
Listing Contacts
Datta Khalsa
Verified Profile
- Property Info
Property Overview
Delightful Village of 6 Residences, with 3 stand-alone Homes plus 3 Townhome-style units and 2 Outbuildings. All this on a large garden parcel with ample yards and plenty of off-street parking on a prime Mid-County location! The original 3 BR/1.5 Bath Home sits back from Mission Dr behind a charming entry pergola and picket-fenced front yard with a lush garden. In its large backyard is an outbuilding with potential for conversion to an ADU. Next down the driveway are 3 Townhome-style units, each with private back yards: Two have 2-story 2/1.5 985 SF floorplans and the third has a 2/1 single-level 830 SF floorplan with an adjacent garage that offers the potential to expand to a 3/2 of 1030SF. At the back of the property are the final 2 standalone homes, each of which has an attached garage offering room to add another bedroom and bath. One has a 2/1 floorplan in 911 SF, expandable to 1111 SF, and the other has a 2/1.5 floorplan in 982 SF, expandable to 1182 SF plus an outbuilding with potential for conversion to yet another ADU. Research shows a Market GSI of $300K as-is, with an upside if you convert the garages and ADUs. Additional opportunities abound with a tentative map and TIC docs ready to file, and an adjoining parcel offered separately that is entitled for the development of 21 units.
Property Details
- Class
- C
- Year Built
- 1975
- Stories
- 1
- Units
- 5
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