CA > Santa Cruz
Santa Cruz, CA 95062,214 S Branciforte AVE
Santa Cruz, CA 95062,214 S Branciforte AVE
Santa Cruz, CA 95062,214 S Branciforte AVE
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Listed by Alex Budka • Redwood Property Company
$3,195,000
Est. payment /mo
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4 Beds
2 Baths
5,285 SqFt
New

214 S Branciforte AVE Santa Cruz, CA 95062

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Brielle Bariteau

Brielle Bariteau

+1(831) 643-5965

UPDATED:

Key Details

Property Type Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 5,285 sqft

Price per Sqft $604

MLS Listing ID ML82021786

Bedrooms 4

Full Baths 2

Year Built 1974

Lot Size 10,106 Sqft

Property Sub-Type Five or More Units

Property Description

Extensively and tastefully renovated turnkey investment opportunity with upside in rent income and ADU development potential. The property operates at a 5.21% in-place cap rate, with upside of achieving a 7.3% cap rate. Ideally located in the sought-after Seabright neighborhood, the Branciforte Apartments are just a 10-minute walk from Seabright Beach, the Boardwalk, Whole Foods, and the Seabright Retail Corridor. Surrounded by single family homes that can sell for over $2M, the property is tucked away in a very safe, quiet and quaint corner of the neighborhood. This boutique apartment community offers luxurious finishes, in-unit laundry, open floorplans, tandem covered parking with a 2:1 parking space ratio, backyards/balconies in select units and a peaceful outdoor space where tenants can grill, socialize and relax. In addition, the 9 x 10 storage units provide residents with ample space for bikes, surfboards, beach gear, and more. With tenants paying all utilities, ownership is sheltered from skyrocketing utility prices that have jumped as much as 70% in the last 5 years. At the same time, tenants' electricity bills will be significantly, if not entirely, offset by the property's rooftop solar panels. ADU plans ready for building department submittal.

Location

State CA

County Santa Cruz

Area East Santa Cruz

Zoning Multifamily

Interior

Heating Wall Furnace

Cooling None

Exterior

Parking Features Covered Parking, Tandem Parking

Utilities Available Individual Electric Meters, Individual Gas Meters, Solar

Roof Type Flat / Low Pitch

Building

Foundation Concrete Slab

Sewer Sewer - Public

Water Individual Water Meter

Others

Restrictions None

Tax ID 010-132-12-000

Security Features Other

Special Listing Condition Not Applicable

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Brielle Bariteau

Brielle Bariteau

Owner CEO | REALTOR | Certified Property Manager | Certified Transaction Coordinator | License ID: 02049882

+1(831) 643-5965

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