314 SPRUCE STREET, SANTA CRUZ CA 95060

  • 3,168 sq.ft.
  • 6,055 sq.ft. lot
offered at $1,799,000
MLS#:ML81814139
Status: Active // Property Type:
County: Santa Cruz // Year Built: 1991

Property Description

Least expensive 5+ unit multifamily on the Westside! This ideally located 7-unit building consists of 6 studios & one 2-BR unit, is situated in close proximity to world-class beaches, Santa Cruz Beach Boardwalk, Santa Cruz Municipal Wharf, West Cliff Drive, Kaiser Permanente Arena & Downtown Santa Cruz. Stable rental history w/extremely low vacancy rates & tremendous rental upside. Separate water, gas & electric meters, nearly unheard of for multifamily investment properties. The well maintained property includes a newer 40-year roof & new sewer line, some newer H20 heaters & low maintenance landscaping. Located in the Santa Cruz Economic Opportunity Zone which may yield a stepped up basis f/capital gains & a permanent exclusion from taxable gains if the property is held for at least 10 years & meets Opportunity Zone requirements. Bring your 1031 Exchange buyers, investors who want stable income & less exposure to the volatility of the stock market & those who seek upside potential.

Listing Courtesy of Debra Wallace, Karon Properties

Interior Features

Heating: Wall Furnace, Natural Gas

Exterior Features

Roof: Composition
FOR MORE INFORMATION, PLEASE CONTACT AGENT:
  • raj qsar
    CEO | Owner |
    CalBRE# 01744847
    • cell 714.412.5019
    • office 949.612.2535
    email Raj

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