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Listed by Ruth Bates • Compass
$ 2,875,000
Est. payment | /mo
4,878 SqFt
$ 2,875,000
Est. payment | /mo
4,878 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,878 sqft
Price per Sqft $589
MLS Listing ID ML82002701
HOA Y/N No
Originating Board Datashare MLSListings
Year Built 2024
Lot Size 0.282 Acres
Property Sub-Type Other
Property Description
5.0% CAP RATE! Two brand new (May 2024) 750 Sq. Ft. 2-bedroom/2-bath townhomes, all electric with solar, heatpump, all new everything! Plus Main Building with 5 units ( four 1-bedroom, 1- two-bedroom) that have all been remodeled over the past 5 years (new kitchens, new baths, new flooring, fresh paint, updated plumbing and electric). 3 units just had new flooring and bathrooms installed. On-site parking for all units. This property currently generates $218,820 in Annual Gross Rents ($182,35/month) and a Net Operating Income of $143,597 per year resulting in a 5.0% Cap Rate and a GRM of 13.1. Tenants would very much like to stay. Property Management firm is in place to make this an easy transition for you.
Location
State CA
County Santa Cruz
Interior
Heating Electric, Other
Cooling None
Fireplace No
Appliance Refrigerator
Building
Water Public
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Adam Shoop
Broker Associate at Exp Realty | Lic# 1782227