$ 7,895,000
140 Vernon ST Santa Cruz, CA 95060
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$ 7,895,000
Est. payment | /mo
0.54 Acres Lot
$ 7,895,000
Est. payment | /mo
0.54 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML81965540
HOA Y/N No
Year Built 1999
Annual Tax Amount $26,625
Lot Size 0.541 Acres
Property Description
Pogonip Terrace features 28 units tucked away in a peaceful, well landscaped and private setting only minutes to downtown Santa Cruz, UCSC and Hwy 17. Pride of ownership is evident at this meticulously maintained 25 year old complex. The 27 studio units and one bedroom managers unit are always in demand and provide reliable cash flow, efficiency in management and significant upside to rents. Each studio has a full kitchen with Maple cabinets, high ceilings, a large closet, full bath and separate sleeping area that fits a queen size bed. Santa Cruz is a desirable investment location due to its strong and increasing rental demand. With the ever expanding University of California, incubator tech-industry, proximity to Silicon Valley, tourist industry and world class beaches, surf, mountain biking and hiking, the Santa Cruz rental market is well positioned for continued strength. New apartments like Pogonip Terrace rarely come available, making this a unique opportunity for investors.
Location
State CA
County Santa Cruz
Area 699 - Not Defined
Zoning IG
Interior
Heating Radiant
Cooling None
Fireplace No
Exterior
Carport Spaces 8
Roof Type Composition
Total Parking Spaces 16
Building
Water Public
Schools
School District Other
Others
Tax ID 00801112000
Special Listing Condition Standard
Listed by Peter Cook • Lighthouse Realty
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Kelly McLaughlin
REALTOR® | Lic# 01475708