Meticulously maintained 9 unit property, 160 Park Place is a standout investment opportunity in the heart of Santa Cruz. The building features an ideal floorplan mix with 8 townhome style 1-bedroom/1-bath units with vaulted ceilings, and one studio, attracting a mix of stable, long-term tenants. Additionally, there are nine covered parking spaces and a large storage room with potential for conversion to an on-site income producing laundry area. Recent upgrades include a new roof, updated windows, termite fumigation, new exterior paint, and sewer lateral improvements. Each unit is 100% electric with separate meters, allowing tenants to pay for their own power while the owner covers trash and water as well as hot water through a central gas water heater. Ideally located just minutes from the beach and major commute routes, 160 Park Place enjoys an excellent walkability score. With many long-term tenants in place and an impressive income-to-expense ratio, this property is a robust addition to any investment portfolio. The current insurance partner is ready to provide coverage for the new owner. Complete marketing package, including financials, inspections, and disclosures available. Don't miss this exceptional chance to own a turn key high performing investment property.Est 5.2% CAP
MLS #
ML81979466
MLS Source
MLSListings, Inc.
Days on Site
36
Cooling
None
Heating
Electric
Roof
Composition
Foundation
Block, Pillar/Post/Pier, Slab
Garage/Parking
Carport, Garage: 0 Car(s)
High School District
Santa Cruz City High
Water
Public
Zoning
Mutlires
# Buildings | # Leased Units | # Total Units |
---|---|---|
1 | 7 | 9 |
Type | Sq Ft | Beds | Baths | Min Rent | Max Rent | Units Like This |
---|---|---|---|---|---|---|
1 | 600 | 1 | 1/0 | $1,800 | $2,695 | 8 |
2 | 360 | – | 1/0 | $2,233 | $2,233 | 1 |
160 Park Pl is a Residential Income in Santa Cruz, CA 95060. This 5,681 square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $3,600,000 and was built in 1978.
This address can also be written as 160 Park Pl, Santa Cruz, CA 95060.©2024 MLSListings Inc. All rights reserved. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from MLSListings Inc.
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This listing information is up-to-date as of December 09, 2024. For the most current information, please contact Daniel Oster, (831) 252-5000