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    314 Spruce Street

    Santa Cruz, CA 95060
    • $1,799,000
    • STATUS: Active
    • ON SITE: 18 days
    • ID#: ML81814393
    UPDATED: 132 min ago
    $1,799,000
    • 0
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1991
    County:

    School Ratings & Info

    Description

    Least expensive 5+ unit multifamily on the Westside! This ideally located 7-unit building consists of 6 studios & one 2-BR unit, is situated in close proximity to world-class beaches, Santa Cruz Beach Boardwalk, Santa Cruz Municipal Wharf, West Cliff Drive, Kaiser Permanente Arena & Downtown Santa Cruz. Stable rental history w/extremely low vacancy rates & tremendous rental upside. Separate water, gas & electric meters, nearly unheard of for multifamily investment properties. The well maintained property includes a newer 40-year roof & new sewer line, some newer H20 heaters & low maintenance landscaping. Located in the Santa Cruz Economic Opportunity Zone which may yield a stepped up basis f/capital gains & a permanent exclusion from taxable gains if the property is held for at least 10 years & meets Opportunity Zone requirements. Bring your 1031 Exchange buyers, investors who want stable income & less exposure to the volatility of the stock market & those who seek upside potential.

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    Bay East ©2020. CCAR ©2020. bridgeMLS ©2020. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at 2020-10-24T23:40:01.72.

    www.lucasgphomes.com/homes/110752583
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    314 Spruce Street Santa Cruz, CA 95060

    • Price: $1,799,000
    • Status: Active
    • Updated: 132 min ago
    • ID#: ML81814393
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    1991
    Built
    Neighborhood:
    All Other Counties/States
    County:
    Santa Cruz
    Area:
    All Other Counties/States
    Property Description
    Least expensive 5+ unit multifamily on the Westside! This ideally located 7-unit building consists of 6 studios & one 2-BR unit, is situated in close proximity to world-class beaches, Santa Cruz Beach Boardwalk, Santa Cruz Municipal Wharf, West Cliff Drive, Kaiser Permanente Arena & Downtown Santa Cruz. Stable rental history w/extremely low vacancy rates & tremendous rental upside. Separate water, gas & electric meters, nearly unheard of for multifamily investment properties. The well maintained property includes a newer 40-year roof & new sewer line, some newer H20 heaters & low maintenance landscaping. Located in the Santa Cruz Economic Opportunity Zone which may yield a stepped up basis f/capital gains & a permanent exclusion from taxable gains if the property is held for at least 10 years & meets Opportunity Zone requirements. Bring your 1031 Exchange buyers, investors who want stable income & less exposure to the volatility of the stock market & those who seek upside potential.
    Exterior Features

    Parking Spaces Total 0 Roof Composition Shingles

    Interior Features

    All Units Have Refrigerator Cooling None Heating GasWall Furnace

    Property Features

    Annual Gross Sched Income 127800 Annual Taxes 25938 Annual Utility Expense 0 Building Type Other Hoa YN No Net Operating Income 78647 Operating Expenses InsuranceTrash Removal Tenant Pays ElectricGasWater Tot Bldg Sq Ft 3168 Water Sewer Sewer System - Public Zoning Rl

    Listing courtesy of Debra Wallace of Karon Properties.


    Bay East ©2020. CCAR ©2020. bridgeMLS ©2020. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at 2020-10-24T23:40:01.72.

     
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