136 Market Street, Santa Cruz, CA 95062
List Price: $1.9M
Listing Status: Active
Original List Price: $2M
0Days on Market: 141
0 Bedrooms · 0 Bathrooms · 2,250 sq ft
Property Type: ResidentialIncome
Year Built: 1976
Lot Size: 9,409 sq ft
Garage Spaces: 6
Annual Property Tax: $3,010
MLS Number: ML82028725
About This Property
Outstanding rental property investment opportunity in central Santa Cruz! Well maintained triplex with many recent improvements, highly desirable two-bedroom apartments, and a strong rental history. Ideally located near the rapidly growing downtown area with a Very walkable and Bikers Paradise Offers easy access to restaurants, shops, Whole Foods Market, Highway 1, the pier, Boardwalk, and beaches. Each unit has a private outdoor patio area and rare attached two-car garage that provides ample options for off-street parking, storage, and bonus living space. Below market rents compared to current Zillow rental rates provide an opportunity to improve cash flow and property value by raising rents to market rates upon tenant turnover. Upside potential, lower operating expenses due to improvements, and the potential for long-term value appreciation make this an excellent investment opportunity in a prime Santa Cruz location. Recent improvements include a newer roof, exterior paint job, sewer lateral replacement, water main replacement, newer water heaters, and interior flooring updates. Triplexes in Santa Cruz with this excellent condition, desirability, and long-term stability are rare in Santa Cruz. Don't miss this opportunity!
Listing provided by: Marshall Keneipp DRE #02115477 8315884528 mdkeneipp@gmail.com, Miritz & Bailey Real Estate, Inc
Source: CRMLS,