Property Photo: 247 High Street CA 95060

Listing Courtesy of:

MLSlistings Inc. / David Lyng Real Estate / Troy Hinds - Contact: 831-706-6224

247 High Street Santa Cruz, CA 95060

Pending (315 Days)

$1,549,000

BED

BATH

905

SQFT

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Description

Approved Development for Seven (7) Unit Luxury Apartment Building. Fully-entitled project consists of five (5) 2BR/2BA + Offices and two (2) 1BR/1BA units including an 1-BR Affordable Unit for a total 12 Bedrooms (17 Rooms/Occupants) and 12 Bathrooms in a stunningly beautiful, all-electric, luxury multifamily design complete with EV charges, security gates, community patio and BBQ area, pet washing station, and secured individual tenant storage lockers for surfboard, bikes, etc. The design is modeled after an adjacent building previously owned by the Seller located at 251 High St which had an 8.7% Avg Annual Rental Rate Growth and an actual Vacancy Factor of less than 0.5% (2015 - 2022) which was recently sold for $6,650,000 or $665,000/Unit and $475,000/Room with a 3.88% Cap Rate and 18.63 GRM. The location is ideally situated on UCSC Bus Line, and close proximity to Downtown Santa Cruz, Google Analytics, and Joby Aviation - all of which are the target demographic of future tenants.

MLS #:
ML81944586

Lot Size
6,938 SQFT

Type
Single-Family Home

Year Built
1920

Views
Ridge, Greenbelt, City Lights, Bay

School District
840

County
Santa Cruz County

Listed By

Troy Hinds, DRE #DRE 01803325, David Lyng Real Estate, Contact: 831-706-6224

Source
MLSlistings Inc.
Last checked Oct 30 2024 at 12:45 PM GMT+0000

Bathroom Details

Full Bathroom: 1

Lot Information

Grade - Side Slope
Grade - Level
Corners Marked

Property Features

Fireplace: Insert
Fireplace: Gas Burning
Foundation: Post and Pier

Heating and Cooling

Wall Furnace
Gas
None

Exterior Features

Roof: Composition

Utility Information

Utilities: Water - Water on Site, Water - Public, Public Utilities
Sewer: Sewer Connected, Sewer - Public

Garage

Gate / Door Opener
Covered Parking
Attached Garage

Living Area

905 sqft

Additional Information: Pleasure Point | 831-706-6224

Location

Map View | Street View

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Estimated Monthly Mortgage Payment

*Based on Fixed Interest Rate withe a 30 year term, principal and interest only

Listing price

Down payment

Interest rate

Mortgage calculator estimates are provided by David Lyng Real Estate and are intended for information use only. Your payments may be higher or lower and all loans are subject to credit approval.

Disclaimer: The data relating to real estate for sale on this website comes in part from the Broker Listing Exchange program of the MLSListings Inc.TM MLS system. Real estate listings held by brokerage firms other than the broker who owns this website are marked with the Internet Data Exchange icon and detailed information about them includes the names of the listing brokers and listing agents. Listing data updated every 30 minutes.

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