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145 Canfield Avenue

Santa Cruz, CA 95060
  • $3,100,000
  • STATUS: Closed
  • ON SITE: 253 Days
  • ID#: ML81947326
Sold - 01/03/2024
$3,100,000
SOLD - 01/03/2024
  • 0
    BEDS
  • 0.36
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1958
County:

School Ratings & Info

School District:
Listing Agent(s): Daniel Oster of Coldwell Banker Realty ((831) 469-8000)


Description

Pro forma GRM of 8.6!! Pro forma cap rate 9%!! Phenomenal income property w/ incredible upside potential. Current rents & expenses show a 4.5% cap rate. Rents significantly under market. 8 of the 9 units have 1 car garages. Unit 6 is the only unit w/o a garage. There is a storage room & a laundry room w/ potential to add additional income:2 washer hookups & 2 dryer hookups. Leases run through May 31st 2024 on 8 units & June 30th 2024 on 1 unit. Great long-term tenants in place with 0 vacancy. Recent updates include new paint, new lighting, & new second story stair case. There are hardwood floors,& vinyl dual paned windows. Home inspection & pest inspection available. Build your wealth & invest in the heart of Santa Cruz close to downtown, UCSC, & commute routes. Properties w/ this mix of floor plans & abundant parking options are very rare. Floor plan scans included in the images. Some units have detached access for garages. Please do not disturb tenants. Offers subject to inspection.

Sold by Recip of Out of Area Office.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-07-18T08:29:28.16. 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 deemed reliable but is not guaranteed accurate by the MLS or The Nelson Team | American Home Realty. Licensed in the State of California, USA.
www.nelsonteamrealestate.com/homes/145081388
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145 Canfield Avenue Santa Cruz, CA 95060

  • Price: $3,200,000
  • Status: Closed
  • On Site: 253 Days
  • Updated: 110 min ago
  • ID#: ML81947326
0
Beds
0
Baths
0
½ Baths
0.36
Acres
1958
Built
Neighborhood:
699 - Not Defined
County:
Santa Cruz
Area:
699 - Not Defined
School District:
Other
Property Description
Pro forma GRM of 8.6!! Pro forma cap rate 9%!! Phenomenal income property w/ incredible upside potential. Current rents & expenses show a 4.5% cap rate. Rents significantly under market. 8 of the 9 units have 1 car garages. Unit 6 is the only unit w/o a garage. There is a storage room & a laundry room w/ potential to add additional income:2 washer hookups & 2 dryer hookups. Leases run through May 31st 2024 on 8 units & June 30th 2024 on 1 unit. Great long-term tenants in place with 0 vacancy. Recent updates include new paint, new lighting, & new second story stair case. There are hardwood floors,& vinyl dual paned windows. Home inspection & pest inspection available. Build your wealth & invest in the heart of Santa Cruz close to downtown, UCSC, & commute routes. Properties w/ this mix of floor plans & abundant parking options are very rare. Floor plan scans included in the images. Some units have detached access for garages. Please do not disturb tenants. Offers subject to inspection.
Exterior Features

Carport Spaces 0 Parking Total 8 Roof Composition

Interior Features

Cooling None Cooling YN Yes Heating Wall Furnace Heating YN Yes

Property Features

Association Fee 0 Buyer Financing Cash Gross Scheduled Income 230220 Insurance Expense 8684 Listing Agreement Exclusive Right To Sell Maintenance Expense 0 Other Expense 0 Special Listing Conditions Standard Tax Annual Amount 40000 Trash Expense 0 Utilities Other Water Source Public Zoning RM



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-07-18T08:29:28.16. 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 deemed reliable but is not guaranteed accurate by the MLS or The Nelson Team | American Home Realty. Licensed in the State of California, USA.
 
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The Nelson Team | American Home Realty
10 Via Del Tesoro
San Clemente CA, 92673
Listing Agent(s): Daniel Oster of Coldwell Banker Realty ((831) 469-8000)