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 |
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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 |
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Area | West Santa Cruz |
City | SANTA CRUZ |
County | Santa Cruz |
State | CA |
Zip Code | 95060 |
Amenities
Utilities | Individual Electric Meters, Public Utilities, Natural Gas |
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Is Waterfront | No |
Interior
Heating | Electric Heat |
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Cooling | No Cooling |
Fireplace | No |
Exterior
Roof | Composition Roof |
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Foundation | Concrete Slab, Pillars/Posts/Piers, Concrete Block |
Additional Information
Zoning | Mutlires |
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Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Agent | Daniel Oster |
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Office | Coldwell Banker Realty |
Contact Info | 831-252-5000 |