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Listed by Paul Bailey • Bailey Properties
$ 3,600,000
Est. payment /mo
Active
1450 Merrill Street Santa Cruz, CA 95062
4,260 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,260 sqft
Price per Sqft $845
MLS Listing ID ML82010023
HOA Y/N No
Year Built 1956
Lot Size 0.298 Acres
Property Sub-Type Other
Source Datashare MLSListings
Property Description
This well-maintained 9-unit multifamily complex is an excellent cash-flow opportunity to acquire a stable, long-term asset in a desirable coastal market with a strong rental history. Features 3 separate buildings: a front house with #A (2/1) and #B (1/1); a standalone #C (2/1); and a 6-unit apartment building (1/1). Beautifully landscaped with two outdoor areas, on-site parking, and leased, coin-operated laundry. Prime mid-county location - walking distance to the beach and near Pleasure Point surf and Capitola Village. Close to public transit, shops, and restaurants. 5 %+ cap rate based on current performance. Potential for value-added improvements that can increase rental income over time.
Location
State CA
County Santa Cruz
Interior
Heating Other
Cooling None
Fireplace No
Appliance Refrigerator
Laundry Coin Operated
Building
Lot Description Level
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