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Jonathan Shaffer

jonathan@shafferrealestategroup.com +1(408) 608-4659

Listed by Paul Zech • Coldwell Banker Realty, DRE#01965059

$ 2,995,000

Est. payment -/mo

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Ocean ST Santa Cruz, CA 95060

3 Beds

2 Baths

3,700 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 3,700 sqft

Price per Sqft $809

MLS Listing ID ML82057686

Bedrooms 3

Full Baths 2

Year Built 1977

Lot Size 0.317 Acres

Property Sub-Type Five or More Units

Property Description

Two Contiguous Parcels 13 TOTAL RENTAL UNITS. This property in this location could really be something more/as in more height 3-4 stories, more units, more income, more value. 328 Ocean St. 13 apartment units, 100% occupied for the last 25 years. Excellent rental income and NOI history. The 13 apartments sit on two parcels favorably Zoned R-M with over 13,808.52 sq. ft; with seventeen parking spaces. Located on major transportation corridor/bus line so, parking is not required if future units are added by going up 3-4 stories. Walk to Santa Cruz Beach Boardwalk, Municipal Wharf and the downtown village of Santa Cruz. One (1) mile to Highway 17 and CA Highway 1 (PCH). These two (2) parcels could be developed to increase height and number of units according to city planning department. 328 Ocean St. parcel one APN 010-551-29 is 7,797.24 sq. ft. Parcel two APN 010-551-30 is 6,011 sq. ft. "Lower Ocean"neighborhood has and is going through a development renaissance, increasing property values.

Location

State CA

County Santa Cruz

Area East Santa Cruz

Building/Complex Name Castle Court Apartments

Zoning RM

Interior

Heating Electric

Cooling None

Exterior

Parking Features No Garage, Off-Street Parking, On Street, Uncovered Parking

Utilities Available Public Utilities

Roof Type Composition,Rolled Composition

Building

Foundation Concrete Perimeter

Sewer Sewer Connected

Water Public

Others

Restrictions None

Tax ID 010-551-29-000

Security Features None

Special Listing Condition Not Applicable

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Phone

+1(408) 608-4659

jonathan@shafferrealestategroup.com

Jonathan Shaffer

Ocean ST Santa Cruz, CA 95060

Key Details

Location

Interior

Exterior

Building

Others

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Ocean ST