Bought with Raeid Farhat • Raeid Farhat Real Estate Inc
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Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 5,147 sqft
Price per Sqft $344
MLS Listing ID ML81909273
Sold Date 12/06/22
Style Spanish
Bedrooms 7
Full Baths 5
Half Baths 1
Year Built 1919
Lot Size 0.404 Acres
Property Sub-Type Five or More Units
Property Description
Unique opportunity to own a value-add Multi-Family rental property featuring one duplex and four stand-alone houses each with private yard space and all perfectly situated on a 17,598 +/- sq ft lot (Six total rentable units). Great mix of units ranging from approx. 633 sq ft to 1,848 sq ft. Corner lot with two homes on Palm Avenue, two homes on Lincoln Street, and the duplex located inside the courtyard walls. Great location approx. 1 mile from downtown Watsonville. Close proximity to E.A Hall Middle School, Watsonville High school and down the street from Callaghan Park. Current cap rate is 5.3% with upside potential! Most units have long term tenants with zero vacancy over the years! No rent control! All tenants have assigned parking, few units have driveway parking and plenty of street parking. Easy access to highway 1, 152 and 129.
Location
State CA
County Santa Cruz
Area Watsonville
Zoning Apartment
Interior
Heating Floor Furnace , Forced Air, Wall Furnace
Cooling None
Flooring Carpet, Stone, Tile
Laundry Washer/Dryer - Some Units
Exterior
Parking Features Assigned Spaces, On Street
Utilities Available Individual Electric Meters
Roof Type Tile
Building
Foundation Concrete Perimeter and Slab
Sewer Sewer - Public
Water Public
Others
Restrictions Below Market Rate Unit
Tax ID 018-061-36-000
Security Features None
Special Listing Condition Not Applicable
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Doug Goss
Broker Associate | License ID: 01182111
Broker Associate License ID: 01182111