140 Vernon ST Active

Santa Cruz,CA 95060

$ 7895000

- Bed

0 Bath

9399 SqFt


Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 9,399 sqft

Price per Sqft $839

MLS Listing ID ML81965540

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

Exterior

Roof Type Composition

Building

Water Public

Schools

School District Other

Others

Special Listing Condition Standard

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