CA > Santa Cruz
Santa Cruz, CA 95060,140 Vernon ST
Santa Cruz, CA 95060,140 Vernon ST
Santa Cruz, CA 95060,140 Vernon ST
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LaKeshia Lindsey

LaKeshia Lindsey

+1(619) 746-0849
$7,500,000
Est. payment /mo
0.54 Acres Lot
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UPDATED:

Key Details

Property Type Commercial

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID ML81986370

HOA Y/N No

Year Built 1999

Annual Tax Amount $83,165

Lot Size 0.541 Acres

Property Description

Pogonip Terrace, located at 140 Vernon St in Santa Cruz, is a well maintained property with historically high occupancy rates. Built in 1999, the 28 unit building is near open space with easy access to area highways (9, 1, 17), UC Santa Cruz, and Downtown Santa Cruz. The Santa Cruz rental market is impacted and there is constant demand for smaller units. The 27 SRO (Single Room Occupancy) units and the 1 one-bedroom unit are appealing to professionals and students alike. It is rare for a building of this size, especially one built in the last 25-years, to come on the market in Santa Cruz. Rents have continued to increase, with the latest SROs renting for $1,925 per month. There is upside to an investor by bringing up the remaining rents to the current market per the Rent Roll and Financial Analysis. The property is professionally managed by a long term manager whod like to continue. Four of the units are part of the Measure O (Affordable) program in the city of Cruz. The remainder of the units are market rate. This property is owned and operated by the original owners and is offered for sale for the first time in its 25 year history. Projected property tax based on list price.

Location

State CA

County Santa Cruz

Area 699 - Not Defined

Zoning IG

Interior

Heating Radiant

Cooling None

Fireplace No

Exterior

Carport Spaces 8

Roof Type Composition

Total Parking Spaces 16

Building

Water Public

Schools

School District Other

Others

Tax ID 00801112000

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Chris Shoemaker • Shoemaker Commercial Real Estate
advisor-avatar

Lakeshia's passion for real estate and her love for California are a perfect match. She has made it her mission to help local residents sell their homes quickly and at the best possible prices. Equally, she takes immense pride in assisting homebuyers in finding their perfect piece of paradise in California. 

+1(619) 746-0849

lakeshiasellsrealestate@gmail.com

USA

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