26512661 Fresno Street, Santa Cruz, CA 95062
List Price: $4.25M
Listing Status: Active
0Days on Market: 0
0 Bedrooms · 0 Bathrooms
Property Type: CommercialSale
Year Built: 1970
Lot Size: 30,056 sq ft
Annual Property Tax: $64,448
MLS Number: ML82053491
About This Property
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!
Listing provided by: Helen Pastorino DRE #00612357 (408) 357-7777 hpastorino@pertria.com, Pertria
Source: CRMLS, MLS #: ML82053491
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.