$ 3,195,000
-
$3,195,000
Price -
0
Bed - Bath
-
5,285
SqFt
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About the Listing ML5097728 - ML5102865
Extensively and tastefully renovated turnkey investment opportunity with upside in rent income and ADU development potential. The property operates at a 5.21% in-place cap rate, with upside of achieving a 7.3% cap rate. Ideally located in the sought-after Seabright neighborhood, the Branciforte Apartments are just a 10-minute walk from Seabright Beach, the Boardwalk, Whole Foods, and the Seabright Retail Corridor. Surrounded by single family homes that can sell for over $2M, the property is tucked away in a very safe, quiet and quaint corner of the neighborhood. This boutique apartment community offers luxurious finishes, in-unit laundry, open floorplans, tandem covered parking with a 2:1 parking space ratio, backyards/balconies in select units and a peaceful outdoor space where tenants can grill, socialize and relax. In addition, the 9 x 10 storage units provide residents with ample space for bikes, surfboards, beach gear, and more. With tenants paying all utilities, ownership is sheltered from skyrocketing utility prices that have jumped as much as 70% in the last 5 years. At the same time, tenants' electricity bills will be significantly, if not entirely, offset by the property's rooftop solar panels. ADU plans ready for building department submittal.
Listing Highlights for 214 S Branciforte Ave
Status
Active
Days on Site
38
Property Type
Commercial Sale
MLS ®
ML82021786
Year Built
1974
Total Square Footage
5,285
Lot/Acreage
N/A
County
Santa Cruz
Area
699 - Not Defined
Interior Details
- Bedrooms: 0
- Bathrooms: Full
- Appliances:
- Air Cond:
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 2
- Zoning: Multifamily
- Roof: Flat
- Others:
- Sewer:
Financial Details
- Tax Amount: $34,765
- Taxes w/Assessments: N/A
- Tax/Property ID: 01013212000
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
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Years
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Listing Location
Questions About..
214 S Branciforte Ave Santa Cruz, CA 95062
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