This Multifamily Property is Off-Market.

108 Sycamore Street
Santa Cruz, CA 95060 ·

5 Units · Multifamily For Sale

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Downtown Moneymaker 5-Plex

Price N/A Cap Rate 6.20%
No. Units 5 Gross Rent Multiplier 9.70
Building Size 2,400 SF No. Stories 2
Property Type Multifamily Year Built 1936
Property Sub-type Garden/Low-Rise Lot Size 4,835 SF
Property Use Type Investment APN / Parcel ID 005-172-11
Commission Split 2.5%
Listing ID: 14740852 Date Created: 08/08/2006 Last Updated: 11/17/2015

Description

Excellent opportunity to acquire a development project with classic 5-unit carrier bringing in over $65K/year. Includes preliminary plans and application to replace with a 4-story, 24-unit low-income SRO with a retail component plus parking for 12 cars at street level.

Additional options for development that are listed as primary uses under the existing Zoning for the property include a Micro Hotel or Senior Housing.

See attachments for details.

Located in the emerging corridor between downtown Santa Cruz and the Santa Cruz Municipal Wharf, directly across street from the recently-approved development at 555 Pacific with street level retail, restaurants and residential development a combined 4 stories plus underground parking.

Highlights

  • Classic 5-unit Carrier with Stable Tenants
  • Walking distance to Downtown
  • Includes Preliminary Development Plans for 24-unit SRO
  • Excellent Upside Potential
  • Walking Distance to Beach

Research

108 Sycamore Street, Santa Cruz, CA 95060 (Santa Cruz County)

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