160 Park Place
Santa Cruz, CA 95060
0.11 acres | #ML81979466
Description
Meticulously maintained 9 unit property, 160 Park Place is a standout investment opportunity in the heart of Santa Cruz. The building features an ideal floorplan mix with 8 townhome style 1-bedroom/1-bath units with vaulted ceilings, and one studio, attracting a mix of stable, long-term tenants. Additionally, there are nine covered parking spaces and a large storage room with potential for conversion to an on-site income producing laundry area. Recent upgrades include a new roof, updated windows, termite fumigation, new exterior paint, and sewer lateral improvements. Each unit is 100% electric with separate meters, allowing tenants to pay for their own power while the owner covers trash and water as well as hot water through a central gas water heater. Ideally located just minutes from the beach and major commute routes, 160 Park Place enjoys an excellent walkability score. With many long-term tenants in place and an impressive income-to-expense ratio, this property is a robust addition to any investment portfolio. The current insurance partner is ready to provide coverage for the new owner. Complete marketing package, including financials, inspections, and disclosures available. Don't miss this exceptional chance to own a turn key high performing investment property. Est. 5% CAP
Property Details
- Acres0.113
Construction Details
- Property TypePurchase
Condition
- Year Built1978
Utilities / Energy Details
- Utility FeaturesNaturalGasAvailable
- Utility SourcePublic
Community and Neighborhood Details
- CountySanta Cruz
- School DistrictOther
Financial Details
- Original List Price$3,750,000
- Taxes Annual$38,535
Other
- MLS #ML81979466
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Daniel Oster (#ML494616)
Listing Office: Coldwell Banker Realty (#ML35574)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
