Multifamily

157 Lee Street

157 Lee Street, Santa Cruz, CA 95060

Listing Price: $1,711,000

Cap Rate
4.65%
Number of Units
4
GRM
14.85
Occupancy
96.00%
Price/Unit
$427,750
Price/Gross SF
$556.97
Gross SF
3,072

Investment Overview

157 Lee Street is a charming and well-located community situated in the city of Santa Cruz, California. This apartment complex has been meticulously well-maintained and properly managed b the current ownership. Situated 2.5 miles from the famous Santa Cruz Beach Boardwalk, 157 Lee Street offers an investor a easily accessible location, a desirable unit-mix, a flexible rent controlled market, and a location that will benefit new investors with consistent cash flow and asset appreciation for many years to come. Additionally, this community has a net rentable square footage of 3,072 (per county records) and accommodates an attractive unit-mix of four two-bedroom/one-bath units. Santa Cruz is considered a major city along the California Pacific Coast and will continue to expand is economic and social infrastructure due to a close proximity to major tech and agricultural institutions in Northern California.

157 Lee Street is a deluxe boutique rental community situated just to the East of Downtown Santa Cruz in a quaint and lush residential neighborhood. This carefully designed complex features charming two bedroom floor plans with close proximity to popular beach beach town and outdoor destinations. Santa Cruz is a hip, vibrant town of nearly 70,000 residents, located 25 miles South West of San Jose. Its residents average an annual median household income of $65,000 with for-sale single-homes averaging $956,000 and condominiums at $680,000. It is within hiking, biking and driving distance to some of the most beautiful vistas and protected beaches in the western United States. The Town reflects the easy, outdoor lifestyle long associated with California, with open spaces and boutique beach town environments to its cosmopolitan, fashionable homes and businesses.

Investment Highlights

  • Extremely Well-Maintained Asset
  • Highly Desirable Floor Plans of Four Two-Bedroom Units.
  • Easy Access to Major Highways and Popular Beach Town Destinations.
  • Situated in a Charming and Low-Density Residential Neighborhood.

Exclusively Listed By

Listing Price: $1,711,000

Cap Rate
4.65%
Number of Units
4
GRM
14.85
Occupancy
96.00%
Price/Unit
$427,750
Price/Gross SF
$556.97
Gross SF
3,072

Investment Highlights

  • Extremely Well-Maintained Asset
  • Highly Desirable Floor Plans of Four Two-Bedroom Units.
  • Easy Access to Major Highways and Popular Beach Town Destinations.
  • Situated in a Charming and Low-Density Residential Neighborhood.

Investment Overview

157 Lee Street is a charming and well-located community situated in the city of Santa Cruz, California. This apartment complex has been meticulously well-maintained and properly managed b the current ownership. Situated 2.5 miles from the famous Santa Cruz Beach Boardwalk, 157 Lee Street offers an investor a easily accessible location, a desirable unit-mix, a flexible rent controlled market, and a location that will benefit new investors with consistent cash flow and asset appreciation for many years to come. Additionally, this community has a net rentable square footage of 3,072 (per county records) and accommodates an attractive unit-mix of four two-bedroom/one-bath units. Santa Cruz is considered a major city along the California Pacific Coast and will continue to expand is economic and social infrastructure due to a close proximity to major tech and agricultural institutions in Northern California.

157 Lee Street is a deluxe boutique rental community situated just to the East of Downtown Santa Cruz in a quaint and lush residential neighborhood. This carefully designed complex features charming two bedroom floor plans with close proximity to popular beach beach town and outdoor destinations. Santa Cruz is a hip, vibrant town of nearly 70,000 residents, located 25 miles South West of San Jose. Its residents average an annual median household income of $65,000 with for-sale single-homes averaging $956,000 and condominiums at $680,000. It is within hiking, biking and driving distance to some of the most beautiful vistas and protected beaches in the western United States. The Town reflects the easy, outdoor lifestyle long associated with California, with open spaces and boutique beach town environments to its cosmopolitan, fashionable homes and businesses.

Exclusively Listed By

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