$3,750,000
160 Park Place Santa Cruz, CA 95060
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
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Listed by Daniel Oster • Coldwell Banker Realty
$3,750,000
Est. payment /mo
5,681 SqFt
UPDATED:
11/13/2024 03:21 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,681 sqft
Price per Sqft $660
MLS Listing ID ML81979466
HOA Y/N No
Originating Board Datashare MLSListings
Year Built 1978
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% CAP
Location
State CA
County Santa Cruz
Interior
Heating Electric
Cooling None
Fireplace No
Appliance Refrigerator
Building
Water Public
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