209 Brennan Street
209 Brennan Street
$3,100,000
—
4,522
4,522
$686
Sold 8/3/22
Description
The subject property provides a rare opportunity to acquire a value-add multifamily property with significant upside in rent potential. The property is in a prime location in the blocks from Downtown Watsonville and just one block off of Main Street. Light interior upgrades will afford investors the opportunity to capture significant increase in rental income and roughly a 8.23% pro forma cap rate. The property is in immaculate condition, with very limited deferred maintenance. Since the onset of...The subject property provides a rare opportunity to acquire a value-add multifamily property with significant upside in rent potential. The property is in a prime location in the blocks from Downtown Watsonville and just one block off of Main Street. Light interior upgrades will afford investors the opportunity to capture significant increase in rental income and roughly a 8.23% pro forma cap rate. The property is in immaculate condition, with very limited deferred maintenance. Since the onset of the COVID-19 Pandemic, Santa Cruz County has been injected with mass migration from the Silicon Valleys remote workforce. In turn, countywide rents have skyrocketed 18.4%. As renters keep getting priced out of more expensive sub-markets in and around the City of Santa Cruz, demand continues pushing south to more affordable areas like Watsonville. This rental demand surge has pushed vacancy rates to 0.5%. Download the Offering Memorandum Here: https://www.redwoodpropertyco.com/207brennan
- Listed by Nick Oliver • DRE #02133612 • Brokerage DRE #02166543 • Redwood Property Company • 831-687-8720
Property Details for 209 Brennan Street
MLS City Name
WATSONVILLE
Building TypeOther
Complex NameAlice Byer Apartments
Garage Spaces0
Parking Spaces0
Location
LISTING UPDATED: 08/03/2022 01:22 PM
Property Details for 209 Brennan Street
Status | Sold |
---|---|
MLS # | ML81895905 |
Days on Compass | 51 |
Taxes | $20,548 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | 5+ Units / Five or More Units |
Year Built | 1964 |
Lot Size | 0.17 AC / 7,492 SF |
County | Santa Cruz County |
Location
Building Information for 209 Brennan Street
Stories-Residences-Year Built1964Building Size-Lot Size0.17 AC / 7,492 SF
Payment Calculator
$18,630 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 209 Brennan Street
Property History for 209 Brennan Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 209 Brennan Street
This home is within Pajaro Valley Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | 6 to 12 |
Rating | School | Distance |
---|---|---|
Mintie White Elementary School PublicK to 5 | ||
E. A. Hall Middle School Public6 to 8 | ||
Watsonville High School Public9 to 12 | ||
Ceiba College Preparatory Academy Charter6 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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