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Listed by Paul Zech • Coldwell Banker Realty, DRE#01965059
$2,995,000
Est. payment /mo
3 Beds
2 Baths
3,700 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 3,700 sqft
Price per Sqft $809
MLS Listing ID ML82057686
Bedrooms 3
Full Baths 2
Year Built 1977
Lot Size 0.317 Acres
Property Sub-Type Five or More Units
Property Description
Two Contiguous Parcels 13 TOTAL RENTAL UNITS. This property in this location could really be something more/as in more height 3-4 stories, more units, more income, more value. 328 Ocean St. 13 apartment units, 100% occupied for the last 25 years. Excellent rental income and NOI history. The 13 apartments sit on two parcels favorably Zoned R-M with over 13,808.52 sq. ft; with seventeen parking spaces. Located on major transportation corridor/bus line so, parking is not required if future units are added by going up 3-4 stories. Walk to Santa Cruz Beach Boardwalk, Municipal Wharf and the downtown village of Santa Cruz. One (1) mile to Highway 17 and CA Highway 1 (PCH). These two (2) parcels could be developed to increase height and number of units according to city planning department. 328 Ocean St. parcel one APN 010-551-29 is 7,797.24 sq. ft. Parcel two APN 010-551-30 is 6,011 sq. ft. "Lower Ocean"neighborhood has and is going through a development renaissance, increasing property values.
Location
State CA
County Santa Cruz
Area East Santa Cruz
Building/Complex Name Castle Court Apartments
Zoning RM
Interior
Heating Electric
Cooling None
Exterior
Parking Features No Garage, Off-Street Parking, On Street, Uncovered Parking
Utilities Available Public Utilities
Roof Type Composition,Rolled Composition
Building
Foundation Concrete Perimeter
Sewer Sewer Connected
Water Public
Others
Restrictions None
Tax ID 010-551-29-000
Security Features None
Special Listing Condition Not Applicable
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