Sold for $3,100,000

$3,100,000

Canfield Santacruz, Santa Cruz, CA 95060

7beds

5baths

7,839sqft

Five Or More Units, Residential Income

Built in 1958

-- sqft lot

$3,234,900 Zestimate^®

$395/sqft

$4,823 Estimated rent

Home value

$3,234,900

$2.81M - $3.72M

$4,823/mo

Zestimate^® history

Owner options

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$4,823/mo

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$4,823/mo

Rent Zestimate^®

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$19,399/mo

Est. payment

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$19,399/mo

Est. payment

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What's special

Storage roomNew paintNew lightingLaundry room

Pro forma GRM of 8.6!! Pro forma cap rate 9%!! Phenomenal income property w/ incredible upside potential. Current rents & expenses show a 4.5% cap rate. Rents significantly under market. 8 of the 9 units have 1 car garages. Unit 6 is the only unit w/o a garage. There is a storage room & a laundry room w/ potential to add additional income:2 washer hookups & 2 dryer hookups. Leases run through May 31st 2024 on 8 units & June 30th 2024 on 1 unit. Great long-term tenants in place with 0 vacancy. Recent updates include new paint, new lighting, & new second story stair case. There are hardwood floors,& vinyl dual paned windows. Home inspection & pest inspection available. Build your wealth & invest in the heart of Santa Cruz close to downtown, UCSC, & commute routes. Properties w/ this mix of floor plans & abundant parking options are very rare. Floor plan scans included in the images. Some units have detached access for garages. Please do not disturb tenants. Offers subject to inspection.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 7
Bathrooms: 5

Heating

Gas, Wall Furnace

Cooling

None

Features

Doors: None

Interior area

Total structure area: 7,839
Total interior livable area: 7,839 sqft

Property

Parking

Total spaces: 8
Parking features: Attached, Guest, Off Street, Parking Area
Garage spaces: 8
Has carport: Yes

Accessibility

Accessibility features: None

Lot

Size: 0.36 Acres

Details

Parcel number: 00743301000
Zoning: RM
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Property subtype: Five Or More Units, Residential Income

Materials

Foundation: Concrete Perimeter
Roof: Composition

Condition

Year built: 1958

Utilities & green energy

Gas: Other
Water: Public
Utilities for property: Other, Water Public

Community & HOA

Location

Region: Santa Cruz

Financial & listing details

Price per square foot: $395/sqft
Date on market: 11/7/2023
Listing agreement: ExclusiveRightToSell
Inclusions: OvenRangeAllUnits

Price history

Date	Event	Price
1/3/2024	Sold	$3,100,000-3.1%$395/sqft
Source: MLSListings Inc #ML81947326 Report a problem
11/21/2023	Contingent	$3,200,000$408/sqft
Source: MLSListings Inc #ML81947326 Report a problem
11/7/2023	Listed for sale	$3,200,000$408/sqft
Source: MLSListings Inc #ML81947326 Report a problem