USACASanta Cruz526540 Soquel Ave
526540 Soquel Ave, Home with 0 bedrooms, 0 bathrooms and 24 parking in Santa Cruz CA | Image 1
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$5,500,000

526540 Soquel Ave, Santa Cruz, CA

Real Estate

For Sale

$--,---,---
0024
  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Commercial Sale
Size -
Garage No
Maintenance Fees 
Taxes $70,800
Days Active 2
Approx. Age 1938
MLS® Number ML82016697

Property Address: 

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

Description

The Sullivan Building Complex at 526-540 Soquel Ave & 545 Ocean View Ave is a collection of mid-century Medical, Personal Care and Professional Suites in 4 buildings spread out across three parcels on a prime corner convenient to The Buttery, Shoppers Corner and the other popular boutique shops and restaurants of Mid-Town. The longtime owners have taken great pride in the property with updates and renovations made to many of the interior and exterior components of the buildings through the years, with over $420, 000 in capital improvements added since 2020, including courtyard remodel for the Medical Arts Building, plus new windows, new plumbing, new flooring, new heat and new air for many of the suites in the complex. Located in an Opportunity Zone, with access to public transit, the assemblage is eligible for multi-story mixed-use development of high-density residential over street-level retail podium. This is an excellent opportunity for an investor seeking to maximize cap rate with upside potential in rents on some of the larger suites which are currently leased month-to-month, or for a developer with the benefit of existing carrier income during entitlement.Show Description
MLS® NumberML82016697
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1938
Stories1
Pets
Corp Number

Included in Maintenance Fee

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

Utilities

HeatForced Air, Wall Furnace
A/CNone
Heating Fuel

Extras

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