236 Ocean Street

Description

1,749 sq. ft. single story building and two parcels, have significant development opportunities. This property is a prime investment opportunity because of the possible many uses and its zoning the City of Santa Cruz has shared with the seller. The location allows for no required parking on site. There are two parcels. One is 6,409 Sq Ft, and the other is 3,444 Sq Ft. Total approx. 9,853 Sq Ft. The current rental income is strong $7K-9K monthly (more when farmers market is present) and there is additional space inside and outside to generate more. Development insights provided by Santa Cruz City Planning & Zoning Dept. states Currently a minimum of 6 units would be permitted , 2-4 stories tall, quite possibly more units and 1-2 more stories height increase subject to buyers approved plans. City also declares the site does qualify for low income housing and in that case, developer could possibly go to 5 stories tall and there is no maximum number of units. The seller and agents do not warranty what is written, and buyer to perform due diligence

Listing information courtesy of: Paul Zech, Coldwell Banker Realty 831-247-3007. *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.