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120-124 Hiawatha Ave
Santa Cruz, CA 95062
Multifamily Property For Sale
·
15 Units
PROPERTY FACTS
| No. Units | 15 | Building Size | 7,603 SF |
| Property Type | Multifamily | Average Occupancy | 87% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1947 |
| Building Class | C | Parking Ratio | 1.84/1,000 SF |
| Lot Size | 0.67 AC | ||
| Zoning | RL - Multiple Residence Low Rise | ||
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.67 AC |
| Building Size | 7,603 SF |
| Average Occupancy | 87% |
| No. Stories | 1 |
| Year Built | 1947 |
| Parking Ratio | 1.84/1,000 SF |
| Zoning | RL - Multiple Residence Low Rise |
ABOUT 120-124 HIAWATHA AVE , SANTA CRUZ, CA 95062
120-124 Hiawatha Avenue in Santa Cruz, offers an investor the rare opportunity to acquire the Makena Collection, a single parcel – approximately 2/3 of an acre – with two buildings, in a historically strong rental market with low vacancy levels. The multifamily dwelling, Makena Court, is a community of (14) 1 bed/1 bath units – most with private gated patios – a laundry care center and onsite parking. Recent improvements to the community include: 6 fully renovated units New exterior paint New garage door – 120 Hiawatha New garage door – 124 Hiawatha New patio fences for patio apartments New exterior doors for all apartments and house Major repairs to parking lot and restripe Upgraded low-maintenance landscaping Successful completion of sewer lateral inspection and repairs Makena House, a 3 bedroom/2 bathroom single family home shows beautifully with an updated kitchen featuring stainless steel refrigerator, stove and microwave, new lighting, new flooring throughout, new interior paint, doors and hardware, bedroom ceiling fans, a dedicated laundry room with washer/dryer, private garage and large deck for outdoor entertainment. This property is located a stone’s throw from Seabright State Beach, scenic East Cliff Drive and the Santa Cruz Museum of Natural History, in an area that offers the best of the Boardwalk and Seabright neighborhoods. The Makena Collection is centrally located between Downtown Santa Cruz, Capitola and Rio Del Mar offering hundreds of shopping, dining and entertainment options. Residents enjoy the convenience of Whole Foods Market, The Buttery, Seabright Brewery, Il Posta, and dozens more restaurants in the immediate neighborhood. Exciting area improvements include the already-completed transformation to the San Lorenzo River Bridge replacing the current 4-foot wide walkway with a 10-foot wide multi-use trail, providing direct bike/pedestrian access for the Makena Collection and the Santa Cruz Beach Boardwalk. * Square footage is approximate and includes 120 Hiawatha (SFR-3BR/2BA) and 124 Hiawatha (14-1BR/1BA units)
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | $2,000 | 600 |
| 3+2 | 1 | $4,695 | 1,500 |
PROPERTY TAXES
| Parcel Number | 010-203-03-000 | Improvements Assessment | $1,916,693 |
| Land Assessment | $4,473,307 | Total Assessment | $6,390,000 |
PROPERTY TAXES
