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Eric Boyenga

e@boyenga.com +1(408) 506-3942

Listed by Joel Calvillo, DRE #01733780 • KW Bay Area Estates

$ 7,250,000

Est. payment | -/mo

4 Beds

3 Baths

15,890 SqFt

Save Virtual Tour

$ 7,250,000

Est. payment | -/mo

Save Virtual Tour

4 Beds

3 Baths

15,890 SqFt

Key Details

Property Type Multi-Family

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 15,890 sqft

Price per Sqft $456

MLS Listing ID ML82055928

Bedrooms 4

Full Baths 3

Year Built 1977

Lot Size 1.415 Acres

Property Sub-Type Five or More Units

Source MLSListings, Inc.

Property Description

Rare opportunity to acquire a distinctive 15-unit multifamily community in Santa Cruz's highly desirable Live Oak neighborhood. Situated on approximately 1.41 acres in a quiet private cul-de-sac across from Live Oak Elementary and just 1.5 miles from the beach, this pride-of-ownership property offers a unique townhome-style design with spacious single-story residences. Every unit features a private backyard, while Units 1-14 include an attached one-car garage, private laundry room, and dedicated parking. The property consists of (10) 2BD/1BA units, (4) 1BD/1BA units, and (1) micro 1BD/1BA unit. Recent improvements include a newer roof, dual-pane vinyl windows, and fresh exterior paint. Nearly 30 years of meticulous owner management has resulted in exceptionally low turnover, with several second-generation tenants. Owner pays water, sewer, garbage, and landscaping; tenants pay gas and electricity. Excellent opportunity for investors or owner-operators seeking a stable, well-maintained asset with long-term upside. True 5.0% Cap Rate at the asking price with property taxes adjusted accordingly. Please view vitual tours on MLS. Offering Memorandum available upon request.

Location

State CA

County Santa Cruz

Area Live Oak

Zoning RM-4

Interior

Heating Wall Furnace

Cooling None

Exterior

Parking Features Attached Garage, Off-Street Parking

Utilities Available Individual Electric Meters, Individual Gas Meters

Roof Type Composition

Building

Foundation Concrete Perimeter and Slab

Sewer Sewer - Public

Water Public

Others

Tax ID 029-144-07-000

Special Listing Condition Not Applicable

Virtual Tour https://youtu.be/7e1KXkHOMJY

+1(408) 506-3942

e@boyenga.com

167 S. San Antonio Road, Altos, CA

1584 Chanticleer AVE Santa Cruz, CA 95062