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USACASanta Cruz214 S Branciforte Ave
214 S Branciforte Ave, Home with 0 bedrooms, 0 bathrooms and 2 parking in Santa Cruz CA | Image 1
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$3,195,000

214 S Branciforte Ave, Santa Cruz, CA

Real Estate

For Sale

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  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Commercial Sale
Size -
Garage No
Maintenance Fees 
Taxes $34,765
Days Active 1
Approx. Age 1974
MLS® Number ML82021786

Property Address: 

Average square foot calculated using Size range provided by listing agent.

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.Show Description
MLS® NumberML82021786
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1974
Stories
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatWall Furnace
A/CNone
Heating Fuel

Extras

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