1584 Chanticleer Avenue, Santa Cruz, CA 95062
- $7,250,000
- List Price
- $7,250,000
- Status
- ACTIVE
- MLS#
- ML82055928
- Year Built
- 1977
- Lot Size
- 61,643
- Acres
- 1.42
- Days on Market
- 3
- Property Type
- Commercial
Property Description
Rare opportunity to acquire a distinctive 15-unit multifamily community in Santa Cruz's highly desirable Live Oak neighborhood. Situated on approximately 1.41 acres in a quiet private cul-de-sac across from Live Oak Elementary and just 1.5 miles from the beach, this pride-of-ownership property offers a unique townhome-style design with spacious single-story residences. Every unit features a private backyard, while Units 1-14 include an attached one-car garage, private laundry room, and dedicated parking. The property consists of (10) 2BD/1BA units, (4) 1BD/1BA units, and (1) micro 1BD/1BA unit. Recent improvements include a newer roof, dual-pane vinyl windows, and fresh exterior paint. Nearly 30 years of meticulous owner management has resulted in exceptionally low turnover, with several second-generation tenants. Owner pays water, sewer, garbage, and landscaping; tenants pay gas and electricity. Excellent opportunity for investors or owner-operators seeking a stable, well-maintained asset with long-term upside. True 5.0% Cap Rate at the asking price with property taxes adjusted accordingly. Please view vitual tours on MLS. Offering Memorandum available upon request.
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Additional Information
- Taxes
- $96,970
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- None
- Roof
- Composition
- Water
- Public
- School District
- Other
- Elementary School
- Live Oak
- Middle School
- Other
- High School
- Santa Cruz
- Attached Structure
- Detached
- Gross Scheduled Income
- $555,744
- School District
- Other
Listing courtesy of Listing Agent: Joel Calvillo (joel@thecalvillogroup.com) from Listing Office: KW Bay Area Estates.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.