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    314 Spruce Street

    Santa Cruz, CA 95060
    • $1,799,000
    • STATUS: Active
    • ON SITE: 196 days
    • ID#: ML81814139
    UPDATED: 154 min ago
    $1,799,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,168
      SQFT
    • $568
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1991
    County:

    School Ratings & Info

    Description

    Least expensive 5+ unit multifamily on the Westside! This ideally located 7-unit building consists of 6 studios & one 2-BR unit, is situated in close proximity to world-class beaches, Santa Cruz Beach Boardwalk, Santa Cruz Municipal Wharf, West Cliff Drive, Kaiser Permanente Arena & Downtown Santa Cruz. Stable rental history w/extremely low vacancy rates & tremendous rental upside. Separate water, gas & electric meters, nearly unheard of for multifamily investment properties. The well maintained property includes a newer 40-year roof & new sewer line, some newer H20 heaters & low maintenance landscaping. Located in the Santa Cruz Economic Opportunity Zone which may yield a stepped up basis f/capital gains & a permanent exclusion from taxable gains if the property is held for at least 10 years & meets Opportunity Zone requirements. Bring your 1031 Exchange buyers, investors who want stable income & less exposure to the volatility of the stock market & those who seek upside potential.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-20T09:27:17.377. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Doherty Real Estate Group | eXp Realty of California, Inc.. Licensed in the State of California, USA.
    www.bestorangecountyhomesearch.com/homes/110698451
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    314 Spruce Street Santa Cruz, CA 95060

    • Price: $1,799,000
    • Status: Active
    • Updated: 154 min ago
    • ID#: ML81814139
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    3,168
    SQFT
    $568
    $/SQFT
    1991
    Built
    Neighborhood:
    699 - Not Defined
    County:
    Santa Cruz
    Area:
    699 - Not Defined
    Property Description
    Least expensive 5+ unit multifamily on the Westside! This ideally located 7-unit building consists of 6 studios & one 2-BR unit, is situated in close proximity to world-class beaches, Santa Cruz Beach Boardwalk, Santa Cruz Municipal Wharf, West Cliff Drive, Kaiser Permanente Arena & Downtown Santa Cruz. Stable rental history w/extremely low vacancy rates & tremendous rental upside. Separate water, gas & electric meters, nearly unheard of for multifamily investment properties. The well maintained property includes a newer 40-year roof & new sewer line, some newer H20 heaters & low maintenance landscaping. Located in the Santa Cruz Economic Opportunity Zone which may yield a stepped up basis f/capital gains & a permanent exclusion from taxable gains if the property is held for at least 10 years & meets Opportunity Zone requirements. Bring your 1031 Exchange buyers, investors who want stable income & less exposure to the volatility of the stock market & those who seek upside potential.
    Exterior Features

    Carport Spaces 0 Foundation Details Concrete Perimeter Lot Features Back Yard Parking Total 0 Roof Composition

    Interior Features

    Accessibility Features Safe Emergency Egress From HomeLow Pile CarpetNo StairsOtherAccessible DoorsAccessible Entrance Cooling None Cooling YN No Heating Natural GasWall Furnace Heating YN Yes

    Property Features

    Cap Rate 4.37 Garage YN No Gross Scheduled Income 127800 Insurance Expense 2713 Listing Agreement Exclusive Right To Sell Listing Service Full Service Maintenance Expense 8000 Special Listing Conditions Standard Trash Expense 4912 Zoning Rl

    Listing provided courtesy of Debra Wallace of Karon Properties and Eli Karon of Karon Properties


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-20T09:27:17.377. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Doherty Real Estate Group | eXp Realty of California, Inc.. Licensed in the State of California, USA.
     
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    Doherty Real Estate Group | eXp Realty of California, Inc.
    27101 Puerta Real
    Mission Viejo CA, 92691