REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 3,600,000
Est. payment /mo
Active
1450 Merrill ST Santa Cruz, CA 95062
0.3 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82010023
HOA Y/N No
Year Built 1956
Annual Tax Amount $21,078
Lot Size 0.298 Acres
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
Area 699 - Not Defined
Zoning RM-2.5
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Carport Spaces 6
Roof Type Shingle,Tar/Gravel
Total Parking Spaces 6
Building
Lot Description Level
Water Public
Schools
High Schools Harbor
School District Other
Others
Tax ID 02727302000
Special Listing Condition Standard
Listed by Paul Bailey Bailey Properties