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$ 2,700,000
Est. payment | /mo
1.53 Acres Lot
$ 2,700,000
Est. payment | /mo
1.53 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML81984537
HOA Y/N No
Year Built 1922
Annual Tax Amount $19,059
Lot Size 1.533 Acres
Property Description
Multi-Family Income Property Along the San Lorenzo River in the Beautiful Redwoods of Ben Lomond, In the heart of Ben Lomond, this unique 9-unit income property offers a rare opportunity to own a piece of paradise. Situated on over 1.5 acres of tranquil, creekside land along the San Lorenzo River, this property is surrounded by majestic redwoods, offering both privacy and beauty. Walk to downtown Ben Lomond or 20 Minutes to the Beaches of Santa Cruz. The property is almost always fully rented and earns great income for the owners. The complex boasts a great mix of units: 3-bed/2-bath, 2-bed/1-bath, and 1-bed/1-bath, plus studio apartments. The property has long-term tenants and very low turnover. This property generates a gross income of $286,452 annually, with an additional $1200 in bonus income from the laundry, delivering an excellent 6%+ CAP rate. This works out to about $300K per unit. For potential owner-occupiers, the spacious 3-bed/2-bath home offers the opportunity to live in a serene, creekside setting while covering your expenses with rental income from the other units. This is a fantastic investment opportunity in one of the most picturesque locations in Ben Lomond. Don't miss your chance to own this incredible piece of real estate!
Location
State CA
County Santa Cruz
Area 699 - Not Defined
Zoning RM-6
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Roof Type Composition
Total Parking Spaces 9
Building
Water Public
Schools
Elementary Schools Other
Middle Schools Other
High Schools Other
School District Other
Others
Tax ID 07715119000
Special Listing Condition Standard
Listed by Kroft & Hulsey Team • Room Real Estate
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