About 1584 Chanticleer Ave
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.
Features of 1584 Chanticleer Ave
| MLS® # | ML82055928 |
|---|---|
| Price | $7,250,000 |
| Square Footage | 15,890 |
| Acres | 1.42 |
| Year Built | 1977 |
| Type | Multi-Residential |
| Sub-Type | Five or More Units |
| Status | Active |
Community Information
| Address | 1584 Chanticleer Ave |
|---|---|
| Area | Live Oak |
| City | SANTA CRUZ |
| County | Santa Cruz |
| State | CA |
| Zip Code | 95062 |
Amenities
| Utilities | Individual Electric Meters, Individual Gas Meters |
|---|---|
| Garages | Attached Garage, Off-Street Parking |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Wall Furnace |
|---|---|
| Cooling | None |
| Fireplace | No |
Exterior
| Roof | Composition |
|---|---|
| Foundation | Concrete Perimeter and Slab |
Additional Information
| Zoning | RM-4 |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Joel Calvillo |
|---|---|
| Office | KW Bay Area Estates |
| Contact Info | 408-892-9158 |