160 Park Place
Santa Cruz, CA 95060
Active for $3,750,000
Beds: N/A Baths: Structure Size: N/A sqft Lot Size: 4,922 sqft
| MLS | ML81979466 |
| Year Built | 1978 |
| Property Type | |
| County | Santa Cruz |
| Status | Active |
| Active | $3,750,000 |
| Structure Size | N/A sqft |
| Lot Size | 4,922 sqft |
| Beds | N/A |
| Baths |
Description
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% CAP
Listing information courtesy of: Daniel Oster, Coldwell Banker Realty 831-252-5000. *Based on information from the Association of REALTORS/Multiple Listing as of 11/16/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.
Location
Contact a Local Realtor®
Juliet Tunyan
REALTOR®
Direct: 818.395.7321
Email: Email Me
DRE: 01932679
DRE #01873088
.png){kind=small}