160 Park Pl, SANTA CRUZ, CA

$3,600,000

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5,681

Square feet

0.11

Acres

About 160 Park Pl

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 5.2% CAP

Features of 160 Park Pl

MLS® # ML81979466
Price $3,600,000
Square Footage 5,681
Acres 0.11
Year Built 1978
Type Multi-Residential
Sub-Type Five or More Units
Status Active

Community Information

Address 160 Park Pl
Area West Santa Cruz
City SANTA CRUZ
County Santa Cruz
State CA
Zip Code 95060

Amenities

Utilities Individual Electric Meters, Public Utilities, Natural Gas
Is Waterfront No

Interior

Heating Electric Heat
Cooling No Cooling
Fireplace No

Exterior

Roof Composition Roof
Foundation Concrete Slab, Pillars/Posts/Piers, Concrete Block

Additional Information

Zoning Mutlires
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

AgentDaniel Oster
OfficeColdwell Banker Realty
Contact Info831-252-5000

Listing Map

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