137 Clay St, Santa Cruz, CA, 95060 - Available for Sale

Multifamily For Sale

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Classic House +4 Plex

137 Clay St, Santa Cruz, CA 95060

$1,180,000

4 Units | Multifamily

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Classic Front house

Multifamily Property For Sale - In Contract

Price:
$1,180,000
No. Units:
4
Building Size:
3,230 SF
Price/Unit:
$295,000
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Commission Split:
2.5%
Cap Rate:
5.20%
Gross Rent Multiplier:
12.20
No. Stories:
2
Year Built:
1970
Lot Size:
8,100 SF
APN / Parcel ID:
005-312-10
Parking Ratio:
6 / 1,000 SF
Listing ID
17944856
Last Updated
today

Find Out More...

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

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.

Financial Summary

Unit Mix Information

Debt & Equity Information

  • Proforma
  • $96,540
  • $96,540
  • $29,345
  • $67,195
  • $23,431

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

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Datta Khalsa
Datta Khalsa

Hands-on involvement in all phases of Real Estate Sales & Leasing

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License #01161050

Asking Price Index Trends for Santa Cruz, CA Multifamily For Sale

  Sep 14 vs. 3 mo.
prior
Y-O-Y
-
State
$157,490+2.3%+7.9%

View Santa Cruz Market Trends for other property types for sale or lease. Learn more about the chart info.

Classic House +4 Plex
  • Multifamily
  • $1,180,000
  • 4 Units
  • 3,230 SF