This Multifamily Property is Off-Market.

137 Clay St
Santa Cruz, CA 95060 ·

4 Units · Multifamily For Sale

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Classic House +4 Plex

Price N/A Cap Rate 5.20%
No. Units 4 Gross Rent Multiplier 12.20
Building Size 3,230 SF No. Stories 2
Property Type Multifamily Year Built 1970
Property Sub-type Garden/Low-Rise Lot Size 8,100 SF
Property Use Type Investment APN / Parcel ID 005-312-10
Commission Split 2.5% Parking Ratio 6 / 1,000 SF
Listing ID: 17944856 Date Created: 12/10/2012 Last Updated: 02/18/2015

Description

Opportunity to buy turnkey 4-plex (new paint, roof, insulation, fixtures) plus classic house, all with great rents. Price includes preliminary plans to expand to 6-8 units in keeping w/multiple new developments nearby: New townhomes across street w/more to come at nearby Unity Temple site, plus the new Warriors Arena are rapidly transforming the neighborhood. Tap into the wave!

The property is located just off Broadway and Ocean streets, close to downtown Santa Cruz and less than one half mile from the Santa Cruz Boardwalk and Main Beach. The neighborhood is rapidly transforming with recent street upgrades and multiple developments including an upscale 16 townhouse subdivision,directly opposite the property.

Highlights

  • Classic House plus Newer Renovated 4-Plex
  • Includes Preliminary Plans to Expand to 8 Units
  • Walking Distance to Downtown, Close to Transportation
  • Rapidly Developing Area of Town
  • Income Projections for 8 units Show 6.4% Cap Rate
  • Add conversion of existing 1/1 units to 2/1 units for 6.8% Cap Rate

Research

137 Clay St, Santa Cruz, CA 95060 (Santa Cruz County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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