About 321 2nd St
"Prime Investment Opportunity". This 12-unit apartment building has been in the same family for over 40 years. Currently the tenants have month to month leases with rents well below the current market rates. There are 11 one-bedroom apartments and 1 studio apartment, private patio decks, many with ocean views including one with a roof top deck with views of the entire bay. Exterior has been freshly painted and a new roof installed in 2023. Close to all amenities including walking distance to the Santa Cruz Boardwalk, beach, wharf, and restaurants. Offering a lucrative opportunity with a possible Pro Forma of 6.4%+ CAP Rate.
Features of 321 2nd St
| MLS® # | ML81958891 |
|---|---|
| Price | $4,850,000 |
| Square Footage | 5,920 |
| Acres | 0.25 |
| Year Built | 1946 |
| Type | Multi-Residential |
| Sub-Type | Five or More Units |
| Status | Active |
Community Information
| Address | 321 2nd St |
|---|---|
| Area | West Santa Cruz |
| City | SANTA CRUZ |
| County | Santa Cruz |
| State | CA |
| Zip Code | 95060 |
Amenities
| Utilities | Public Utilities |
|---|---|
| Parking Spaces | 8 |
| Garages | No Garage |
| View | City, Ocean View |
| Is Waterfront | No |
Interior
| Heating | Electric Heat |
|---|---|
| Cooling | No Cooling |
| Fireplace | No |
Exterior
| Lot Description | Views |
|---|---|
| Roof | Flat/Low Pitch, Bitumen |
| Foundation | Concrete Perimeter, Crawl Space |
Additional Information
| Zoning | Apt 11-20 Units |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | John Skillicorn |
|---|---|
| Office | Coldwell Banker Realty |
| Office Contact | 831-818-1540 |