217 Berry St
$5,970,000

217 Berry St

9,294 Sq.Ft.

Description

Priced below recent appraised 6/29/22 value. Fantastic multi-family investment opportunity. This unique 12-unit compound combines 8-existing 2br/1bth apartment units and 4-new detached sfr homes. Over $1.8m in recent capital improvements including state of the art Solar mini grid, existing unit renovations-some units, new parking lot paving, new paint, new private yard fencing, new landscaping, new laundry room. New homes have 7 yr warranty lowering any maintenance expenses or capital investments for new owner. Solid go in return 5.05% with demonstrated and huge- value add opportunity by updating remaining 6-2br apartments and bring to market at unit turn. Doing so would result in over a 6% Cap. Utilities are being billed back to tenants adding to owner income. This is a must see property for any Santa Cruz investor.

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Location

217 Berry Street, Santa Cruz, CA 95060

Status

Sold
Raeid Farhat

Raeid Farhat

Property Amenities

Area & Lot
Lot Area 17,990 Sq.Ft.
Living area 9,294 Sq.Ft.
Year Built 2022
Type OTHER
Status Sold
Exterior
Garage Space 8
Finance
Sales Price $5,970,000

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