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Additional details
Listed by Helen Pastorino • Pertria
$4,245,000
Est. payment /mo
6,656 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,656 sqft
Price per Sqft $637
MLS Listing ID ML82053491
HOA Y/N No
Year Built 1970
Lot Size 0.690 Acres
Property Sub-Type Other
Source Datashare MLSListings
Property Description
EXCELLENT OPPORTUNITY WHETHER A DEVELOPER OR AN INVESTOR. 2651-2661 Fresno Street is a rare jewel in the heart of Santa Cruz's coveted 26th Ave neighborhood, just 0.3 miles from the beach & surrounded by the coastal lifestyle that makes this pocket so desirable. For a developer, the opportunity is exceptional: feasibility study recommends redevelopment into 3-story townhomes, w/ Option A identifying a 13-unit townhouse concept utilizing State Density Bonus Laws. While pursuing entitlements, the property offers the rare advantage of in-place income, generating $26,000+ per month from 8 updated, fully leased residential units. For an investor, the existing asset is equally compelling. The upside or future opportunity to secure cash flow & retain the upside to sell, entitle or develop for add'l value. The property has updated kitchens & baths, private fenced-in yards, large common area w/ chairs & fire pit, fresh exterior paint & new landscaping, separate gas & electrical meters, 2 laundry rooms w/ app-operated payment, 8 carports & 10 onsite parking. In a market defined by limited housing supply, strong rental demand & exceptional beach proximity, Fresno Street offers immediate income today w/ a seductive path toward future upside tomorrow. Enjoy!
Location
State CA
County Santa Cruz
Interior
Heating Wall Furnace
Cooling None
Flooring Tile
Fireplace No
Window Features Double Pane Windows
Appliance Refrigerator
Building
Lot Description Level
Water Public
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Vicky Van Brocklin
Broker | License ID: 01512910
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