707 Seabright Ave, Santa Cruz 707 Seabright Ave 9 Unit Apartment Building $3,395,000 ($377,222/Unit) Santa Cruz, CA 95062

707 Seabright is a nine-unit property that has been in the same family for nearly 50 years. It is in close proximity to Seabright Beach, the Santa Cruz Small Craft Harbor, and many local restaurants in the desirable Seabright neighborhood. The units are set back from the street, providing peaceful living experience for the tenants. Although the property provides excellent walkability, it also has 13 parking spaces, including eight covered carport spaces. The unit mix includes eight 1-bedroom, 1-bath units in the two story “main” building. Each of these eight units has a patio or balcony. The ninth unit is a stand-alone 3-bedroom, 1-bath “house” with a fenced front patio and an opportunity to create a large, fenced back yard. The house is an excellent rental. It would also work well for an owner’s beach unit. There is ample open space, with the potential for additional development (the adjacent parcel is similarly sized and contains 14 units). Over the past two years, the owner has completed numerous improvements at a cost of nearly $200,000. These improvements include a new roof on the main building, a re-piping of the main building, and a new sewer lateral. One unit is occupied by the owner's son not paying rent and will be delivered vacant at closing.