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$ 3,600,000
Est. payment /mo
Active
1450 Merrill Street Santa Cruz, CA 95062
4,260 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,260 sqft
Price per Sqft $845
MLS Listing ID ML82010023
HOA Y/N No
Year Built 1956
Lot Size 0.298 Acres
Acres 0.3
Property Sub-Type Other
Property Description
This well-maintained 9-unit multifamily complex is an excellent cash-flow opportunity to acquire a stable, long-term asset in a desirable coastal market with a strong rental history. Features 3 separate buildings: a front house with #A (2/1) and #B (1/1); a standalone #C (2/1); and a 6-unit apartment building (1/1). Beautifully landscaped with two outdoor areas, on-site parking, and leased, coin-operated laundry. Prime mid-county location - walking distance to the beach and near Pleasure Point surf and Capitola Village. Close to public transit, shops, and restaurants. 5 %+ cap rate based on current performance. Potential for value-added improvements that can increase rental income over time.
Location
State CA
County Santa Cruz
Zoning RM-2
Interior
Heating Other
Cooling None
Fireplace No
Appliance Refrigerator
Laundry Coin Operated
Building
Lot Description Level
New Construction No
Others
Tax ID 02727302000
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Listed by Paul Bailey • Bailey Properties