About 2651-2661 Fresno St
EXCELLENT OPPORTUNITY WHETHER A DEVELOPER OR AN INVESTOR. 2651-2661 Fresno Street is a rare jewel in the heart of Santa Cruz's coveted 26th Ave neighborhood, just 0.3 miles from the beach & surrounded by the coastal lifestyle that makes this pocket so desirable. For a developer, the opportunity is exceptional: feasibility study recommends redevelopment into 3-story townhomes, w/ Option A identifying a 13-unit townhouse concept utilizing State Density Bonus Laws. While pursuing entitlements, the property offers the rare advantage of in-place income, generating $26,000+ per month from 8 updated, fully leased residential units. For an investor, the existing asset is equally compelling. The upside or future opportunity to secure cash flow & retain the upside to sell, entitle or develop for add'l value. The property has updated kitchens & baths, private fenced-in yards, large common area w/ chairs & fire pit, fresh exterior paint & new landscaping, separate gas & electrical meters, 2 laundry rooms w/ app-operated payment, 8 carports & 10 onsite parking. In a market defined by limited housing supply, strong rental demand & exceptional beach proximity, Fresno Street offers immediate income today w/ a seductive path toward future upside tomorrow. Enjoy!
Features of 2651-2661 Fresno St
| MLS® # | ML82053491 |
|---|---|
| Price | $4,245,000 |
| Square Footage | 6,656 |
| Acres | 0.69 |
| Year Built | 1970 |
| Type | Multi-Residential |
| Sub-Type | Five or More Units |
| Status | Active |
Community Information
| Address | 2651-2661 Fresno St |
|---|---|
| Area | Live Oak |
| City | SANTA CRUZ |
| County | Santa Cruz |
| State | CA |
| Zip Code | 95062 |
Amenities
| Utilities | Individual Electric Meters, Individual Gas Meters, Public Utilities |
|---|---|
| Parking Spaces | 10 |
| Garages | Assigned Spaces, Carport , On Street, Parking Restrictions, Uncovered Parking |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Wall Furnace |
|---|---|
| Cooling | None |
| Fireplace | No |
Exterior
| Lot Description | Grade - Level |
|---|---|
| Windows | Double Pane Windows, Low Flow Shower , Low Flow Toilet |
| Roof | Bitumen, Composition, Fiberglass, Shingle |
| Foundation | Concrete Slab |
Additional Information
| Zoning | RM-5-PP |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Helen Pastorino |
|---|---|
| Office | Pertria |
| Contact Info | 408-930-6244 |