1584 Chanticleer AVE, Santa Cruz, CA 95062
- $7,250,000
- 15,890
- SqFt
- List Price
- $7,250,000
- MLS#
- ML82055928
- Status
- ACTIVE
- Property Type
- com
- Sqft. of Residence
- 15,890
- Listing Area
- Live Oak
- Year Built
- 1977
Property Description
Rare opportunity to acquire a distinctive 15-unit multifamily community in Santa Cruz's highly desirable Live Oak neighborhood. Situated on approximately 1.41 acres in a quiet private cul-de-sac across from Live Oak Elementary and just 1.5 miles from the beach, this pride-of-ownership property offers a unique townhome-style design with spacious single-story residences. Every unit features a private backyard, while Units 1-14 include an attached one-car garage, private laundry room, and dedicated parking. The property consists of (10) 2BD/1BA units, (4) 1BD/1BA units, and (1) micro 1BD/1BA unit. Recent improvements include a newer roof, dual-pane vinyl windows, and fresh exterior paint. Nearly 30 years of meticulous owner management has resulted in exceptionally low turnover, with several second-generation tenants. Owner pays water, sewer, garbage, and landscaping; tenants pay gas and electricity. Excellent opportunity for investors or owner-operators seeking a stable, well-maintained asset with long-term upside. True 5.0% Cap Rate at the asking price with property taxes adjusted accordingly. Please view vitual tours on MLS. Offering Memorandum available upon request.
Additional Information
- Age
- 49
- Building Name
- Chanticleer Commons
- Cooling System
- None
- Foundation
- Concrete Perimeter and Slab
- Garage Parking
- Attached Garage, Off-Street Parking
- Heating System
- Wall Furnace
- Living Area
- 15,890
- County
- Santa Cruz
- Neighborhood
- Live Oak
- Other Utilities
- Individual Electric Meters, Individual Gas Meters
- Roof
- Composition
- Sewer
- Sewer - Public
- Special Features
- None
- Unincorporated Yn
- Yes
- Zoning
- RM-4
Mortgage Calculator
Listing courtesy of Joel Calvillo from KW Bay Area Estates. 408-892-9158
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