1584 Chanticleer Avenue,Santa Cruz, CA 95062
Santa Cruz, CA 95062
Description
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.
Details
| MLS # | ML82055928 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1977 |
| Days On Site | 44 |
| Listing Provided By | KW Bay Area Estates | Joel Calvillo |
Features
| SQ Feet | 15,890 |
|---|---|
| Building(s) | 6 |
| Zoning | RM-4 |
| Acreage | 1.42 |
Interior
| Cooling | None |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Exterior
| Roof | Composition |
|---|
Taxes
| Property | 96970 |
|---|
Area Information
| State | CA |
|---|---|
| County | Santa Cruz |
| City | Santa Cruz |
| Zip Code | 95062 |
| Area | 699 Not Defined |
| Listing VS Median (in 95062) | |
Price: $7,250,000 low | high Med: $2,495,000 sqft: 15,890 low | high Med: 4,612 $ / sqft: $456 low | high Med: $541 On site: 44 low | high Med: 28 | |
Market Activity 95062
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Learn More About This Property
| State | CA |
|---|---|
| County | Santa Cruz |
| City | Santa Cruz |
| Zip Code | 95062 |
| Area | 699 Not Defined |
| Listing VS Median (in 95062) | |
Price: $7,250,000 low | high Med: $2,495,000 sqft: 15,890 low | high Med: 4,612 $ / sqft: $456 low | high Med: $541 On site: 44 low | high Med: 28 | |