328 Ocean St - Apartments FOR SALE


Santa Cruz, CA 95060- Riverwalk
$4,100,000 USD
831-247-3007
328 Ocean St, Santa Cruz, CA for Sale
$4,100,000 USD
Apartments - FOR SALE
1/10
null | 4.38% Cap Rate

328 Ocean St
Santa Cruz, CA 95060
Riverwalk


HIGHLIGHTS

  • Main Street leading to the Santa Cruz Beach Boardwalk & beaches
  • Ocean St. turns into the direct route to Highway 17 North and California Highway 1 South
  • High daily traffic count
  • Walking distance to downtown, restaurants & services
  • Enjoys 100% occupancy last 25 years

OVERVIEW

Two Contiguous Properties 14 TOTAL RENTAL UNITS: Can also be purchased separately. 328 Ocean St. 13 apartment units and 319 Jessie St (APN 010-551-16): a single family residence 1,475 sq. ft; 3 bed, 2 bath, attached 2 car garage all on 5,009 sq. ft. lot residence both 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:he single family home zoned R-L is behind and c contiguous with space to potentially add another unit/duplex. Located on major transportation corridor/bus line. 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. We have other listings in this neighborhood: 338 Ocean St. zoned R-L a Victorian duplex on 17,076 sq. ft. lot. 433 Ocean St. Commercial corner lot, 80 rooms Hotel Solares, Santa Cruz , Another Iconic and legendary hotel in Santa Cruz County- * call Paul

FOR SALE DETAILS

PRICE

$4,100,000 USD

PRICE/SF

$601 USD /SF

# OF UNITS

14

PRICE/UNIT

$292,857

CAP RATE

4.38%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

includes 319 Jessie St.

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1977

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,818 SF

ZONING

RM

APN/PARCEL ID

010-551-16,010-551-29-000,010-551-30-000

ASK ABOUT THIS PROPERTY

Paul ZechColdwell Banker Realty Commercial & ResidentialMore Info
831-247-3007

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Paul ZechColdwell Banker Realty Commercial & ResidentialMore Info
831-247-3007

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.