140 Vernon Street

Santa Cruz, CA 95060

$7,995,000
Price
Beds
9,399 Sq. Ft.
$851 / Sq. Ft.
9,399
Sq. Ft.
$851
per Sq. Ft.

Description

Pogonip Terrace features 28 units tucked away in a peaceful, well landscaped and private setting only minutes to downtown Santa Cruz, UCSC and Hwy 17. Pride of ownership is evident at this meticulously maintained 25 year old complex. The 27 studio units and one bedroom managers unit are always in demand and provide reliable cash flow, efficiency in management and significant upside to rents. Each studio has a full kitchen with Maple cabinets, high ceilings, a large closet, full bath and separate...Pogonip Terrace features 28 units tucked away in a peaceful, well landscaped and private setting only minutes to downtown Santa Cruz, UCSC and Hwy 17. Pride of ownership is evident at this meticulously maintained 25 year old complex. The 27 studio units and one bedroom managers unit are always in demand and provide reliable cash flow, efficiency in management and significant upside to rents. Each studio has a full kitchen with Maple cabinets, high ceilings, a large closet, full bath and separate sleeping area that fits a queen size bed. Santa Cruz is a desirable investment location due to its strong and increasing rental demand. With the ever expanding University of California, incubator tech-industry, proximity to Silicon Valley, tourist industry and world class beaches, surf, mountain biking and hiking, the Santa Cruz rental market is well positioned for continued strength. New apartments like Pogonip Terrace rarely come available, making this a unique opportunity for investors.
  1. Listed by Peter Cook • DRE #01223810 • Brokerage DRE #01223810 • Lighthouse Realty • 831-247-7211

Property Details for 140 Vernon Street

MLS City Name
SANTA CRUZ
Building Type
Other
Complex Name
Pogonip Terrace
Garage Spaces
0
Parking Spaces
16

Location

Listing Courtesy of Lighthouse Realty, Peter Cook, DRE #01223810
Add your commute
LISTING UPDATED: 05/31/2024 12:20 AM

Property Details for 140 Vernon Street

StatusActive
MLS #ML81965540
Days on Compass18
Taxes$26,625 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1999
Lot Size0.54 AC / 23,566 SF
CountySanta Cruz County

Location

Listing Courtesy of Lighthouse Realty, Peter Cook, DRE #01223810
Add your commute

Building Information for 140 Vernon Street

Stories-Residences-Year Built1999Building Size-Lot Size0.54 AC / 23,566 SF

Payment Calculator

$45,851 per month

30 year fixed, 7.25% Interest

Principal and Interest

$43,632

Property Taxes

$2,219

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 140 Vernon Street

Features
Features
  • Fireplace: No
  • Flooring: Laminate
  • Living SqFt: 9399
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Radiant
  • Meters: Master Water
  • Sewer Septic: Sewer - Public
  • Utilities: Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 8
Garage
  • Garage and Parking: Assigned Spaces
Property Details
Homeowners Association
  • HOA Amenities: Garden / Greenbelt / Trails
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 28
  • Area Text: West Santa Cruz
  • Restrictions: Parking Restrictions, Pets - Not Allowed
  • Roof: Composition
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 140
  • Street Name: Vernon
  • Street Suffix: Street
  • Area ID: 43
Lot / Property Details
Building Information
  • Number of Buildings: 4
  • Structure SqFt: 9399
  • Structure SqFt Source: Assessor
  • Age: 25
Development Information
  • Ownership Type: Limited Partnership
  • Zoning Detail: IG
Location Information
  • City Limits: Yes
  • Directions: Turn left onto Vernon Street off of River Street just past Harvey West and Golf Club Drive.
  • Parcel Number: 008-011-12-000
  • County Name: Santa Cruz
  • City Name: SANTA CRUZ
  • City Postal ID: 64
  • Postal Code: 95060
  • Elementary School District: 840
  • High School District Text: Santa Cruz City High
Lot Information
  • Foundation: Concrete Perimeter and Slab
  • Lot Acres: .54
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
Building Information
  • No Of Leased: 27
General Information
  • Annual Tax Amount: $26,625
  • Capitalization Rate: 4.51
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Laundry, Rents
  • Vacancy Factor: 0
Income / Expense Details
  • Expense Insurance: $29,609
  • Expense Landscape: $6,845
  • Expense Maintenance: $18,901
  • Expense Management: $45,691
  • Expense Trash: $0
  • Expenses Other: $0
  • Expenses Utility: $28,464
  • Expenses Total: $156,135
  • Operating Expenses Include: Fee - Property Management, Maintenance - Repair, Services - On-Site Manager, Utilities - Water
  • Gross Rent Multiplier: 15.48
  • Income Annual Gross: $516,486
  • Income Annual Rental: $511,116
  • Income Gross Scheduled: $516,486
  • Income Other: $5,370
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 0
  • Unit 1 Rent: $1,525
Unit 2 Information
  • Unit 2 Approx Square Footage: 550
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 1
  • Unit 2 Rent: $2,200
Unit Type 1
  • Unit Type1 Approx SqFt: 335

Property History for 140 Vernon Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 140 Vernon Street

This home is within Santa Cruz City High School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
De Laveaga Elementary School
PublicK to 5

Mission Hill Middle School
Public6 to 8

Harbor High School
Public9 to 12

Soquel High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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140 Vernon Street is a multi-family home for sale in Santa Cruz, CA 95060. This property was listed for sale on May 14, 2024 by Lighthouse Realty, it's currently listed at $7,995,000. This listing's school districts are Santa Cruz City High School District, Santa Cruz City Elementary School District. Nearby schools include De Laveaga Elementary School, Mission Hill Middle School and Harbor High School. 140 Vernon Street is a 0-bed, 0-bath, 9,399 sqft multi-family home built in 1999.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Lighthouse Realty, Peter Cook, DRE #01223810

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.