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$ 7,250,000
Est. payment /mo
New
1584 Chanticleer Avenue Santa Cruz, CA 95062
15,890 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 15,890 sqft
Price per Sqft $456
MLS Listing ID ML82055928
HOA Y/N No
Year Built 1977
Lot Size 1.415 Acres
Property Sub-Type Other
Property Description
Rare opportunity to acquire a distinctive 15-unit multifamily community in Santa Cruz's highly desirable Live Oak neighborhood. Situated on approximately 1.41 acres in a quiet private cul-de-sac across from Live Oak Elementary and just 1.5 miles from the beach, this pride-of-ownership property offers a unique townhome-style design with spacious single-story residences. Every unit features a private backyard, while Units 1-14 include an attached one-car garage, private laundry room, and dedicated parking. The property consists of (10) 2BD/1BA units, (4) 1BD/1BA units, and (1) micro 1BD/1BA unit. Recent improvements include a newer roof, dual-pane vinyl windows, and fresh exterior paint. Nearly 30 years of meticulous owner management has resulted in exceptionally low turnover, with several second-generation tenants. Owner pays water, sewer, garbage, and landscaping; tenants pay gas and electricity. Excellent opportunity for investors or owner-operators seeking a stable, well-maintained asset with long-term upside. True 5.0% Cap Rate at the asking price with property taxes adjusted accordingly. Please view vitual tours on MLS. Offering Memorandum available upon request.
Location
State CA
County Santa Cruz
Zoning RM-4
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 02914407000
Virtual Tour https://youtu.be/Sxpkm2e7LuQ
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Listed by Joel Calvillo • KW Bay Area Estates
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