3230 Mission Dr - Apartments FOR SALE


Santa Cruz, CA 95065
$2,975,000 USD
831-818-0181
3230 Mission Dr, Santa Cruz, CA for Sale
$2,975,000 USD
Apartments - FOR SALE
1/32
null | 4.44% Cap Rate

3230 Mission Dr
Santa Cruz, CA 95065


OVERVIEW

SELLER FINANCING OFFERED<b><br> (30% DOWN, AND LOW MONTHLY PAYMENTS)<br> Delightful Village of 6 Residences, with 3 stand-alone Homes, 1 attached home, 2 Townhome-style units, and 2 outbuildings. All this on a large garden parcel with ample yards and plenty of off-street parking on a prime Mid-County location! The Original 3 BR/2 Bath Home sits back from Mission Dr behind a charming entry pergola and picket-fenced front yard with a lush garden. In its large backyard is an outbuilding with potential for conversion to an ADU. Next down the driveway are de 2 Townhouse-style units plus the attached Home, each with private backyards. The Townhouse-style units each have 2-story 2/1.5 985 SF floorplans and the attached Home has a 2/1 single-level 830 SF floorplan with an adjacent garage that offers the potential to expand to a 3/2 of 1030 SF. At the back of the property are the final 2 standalone Homes, each of which has an attached garage offering room to add another bedroom and bath. One has a 2/1 floorplan in 911 SF, expandable to 1111 SF, and the other has a 2/1.5 floorplan in 982 SF, expandable to 1182 SF plus an outbuilding with potential for conversion to yet another ADU. Research shows the Market GSI estimate at $288,400 as-is, with an upside if you convert the garages to bedroom suites and outbuilding to ADUs. Additional opportunities abound with a tentative map and TIC docs ready to file, or the possibility of doing a 4-split to sell off the back 3 Homes (each of which are separately metered for water, gas, and electric) as de minimus PUD dwellings to new owners, and keep the front Home and 2 Townhouse-style units as a free and clear investment after using the sales proceeds to pay off your loan.

FOR SALE DETAILS

PRICE

$2,975,000 USD

PRICE/SF

$525 USD /SF

# OF UNITS

6

PRICE/UNIT

$495,833

CAP RATE

4.44%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Delightful Village of 6 Residences!

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1975

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

RM-3

APN/PARCEL ID

025-341-15

ASK ABOUT THIS PROPERTY

Datta KhalsaMain Street RealtorsMore Info
831-818-0181

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Datta KhalsaMain Street RealtorsMore Info
831-818-0181

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.