314 Spruce Street

Santa Cruz, CA 95060

$1,549,000
Last Sold Price
Beds
3,168 Sq. Ft.
$489 / Sq. Ft.
3,168
Sq. Ft.
$489
per Sq. Ft.

Description

Least expensive 5+ unit multifamily on the Westside! This ideally located 7-unit building consists of 6 studios & one 2-BR unit, is situated in close proximity to world-class beaches, Santa Cruz Beach Boardwalk, Santa Cruz Municipal Wharf, West Cliff Drive, Kaiser Permanente Arena & Downtown Santa Cruz. Stable rental history w/extremely low vacancy rates & tremendous rental upside. Separate water, gas & electric meters, nearly unheard of for multifamily investment properties. The well maintained...Least expensive 5+ unit multifamily on the Westside! This ideally located 7-unit building consists of 6 studios & one 2-BR unit, is situated in close proximity to world-class beaches, Santa Cruz Beach Boardwalk, Santa Cruz Municipal Wharf, West Cliff Drive, Kaiser Permanente Arena & Downtown Santa Cruz. Stable rental history w/extremely low vacancy rates & tremendous rental upside. Separate water, gas & electric meters, nearly unheard of for multifamily investment properties. The well maintained property includes a newer 40-year roof & new sewer line, some newer H20 heaters & low maintenance landscaping. Located in the Santa Cruz Economic Opportunity Zone which may yield a stepped up basis f/capital gains & a permanent exclusion from taxable gains if the property is held for at least 10 years & meets Opportunity Zone requirements. Bring your 1031 Exchange buyers, investors who want stable income & less exposure to the volatility of the stock market & those who seek upside potential.
  1. Listed by Debra Wallace • DRE #01355665 • Karon Properties
  2. Listed by Eli Karon • DRE #01732369 • Karon Properties

Property Details for 314 Spruce Street

MLS City Name
SANTA CRUZ
Building Type
Other
Garage Spaces
0
Parking Spaces
0
Cross Street
Pacific Avenue

Location

Listing Courtesy of Karon Properties, Debra Wallace, DRE #01355665; Karon Properties, Eli Karon, DRE #01732369

Sold By Robert Chiang Real Estate ServicesIncorporated, Rob Chiang, DRE #01445917

Add your commute
LISTING UPDATED: 12/31/2020 11:23 AM

Property Details for 314 Spruce Street

StatusSold
MLS #ML81814393
Days on Compass67
Taxes$25,938 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCOMM RI MULTI-UNITS 5+ / Other
Year Built1991
Lot Size0.14 AC / 6,055 SF
CountySanta Cruz County

Location

Listing Courtesy of Karon Properties, Debra Wallace, DRE #01355665; Karon Properties, Eli Karon, DRE #01732369

Sold By Robert Chiang Real Estate ServicesIncorporated, Rob Chiang, DRE #01445917

Add your commute

Building Information for 314 Spruce Street

Stories-Residences-Year Built1991Building Size-Lot Size0.14 AC / 6,055 SF

Payment Calculator

$10,615 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,454

Property Taxes

$2,162

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 314 Spruce Street

Features
Features
  • Fireplace: No
  • Living SqFt: 3168
  • Pool: No
  • Security Features: Security Fence
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Gas, Wall Furnace
  • Meters: Separate Electric, Separate Gas, Separate Water
  • Sewer Septic: Sewer - Public
  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Water: Individual Water Meter
Carport and Parking
  • Carport Min: 0
Property Details
Homeowners Association
  • HOA Exists: 0
Property Details
  • Min Num Of Units in Complex: 7
  • Area Text: West Santa Cruz
  • Restrictions: None
  • Roof: Composition
  • Subclass: Five or More Units
  • Year Built Source: Other
  • Street Number: 314
  • Street Name: Spruce
  • Street Suffix: Street
  • Area ID: 43
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 3168
  • Structure SqFt Source: Other
  • Age: 29
Development Information
  • Zoning Detail: RL
Location Information
  • City Limits: Yes
  • Incorporated: No
  • Parcel Number: 007-021-12-000
  • 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
  • Lot Acres: .14
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Other
Mobile / Manufactured Information
Other Information
  • Dual Variable: Yes
Multi Family Information
Building Information
  • No Of Leased: 7
General Information
  • Annual Tax Amount: $25,938
  • Capitalization Rate: 4.77
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Water
  • Income Includes: Rents
  • Vacancy Factor: 5
Income / Expense Details
  • Expense Insurance: $2,713
  • Expense Landscape: $1,200
  • Expense Maintenance: $8,000
  • Expense Management: $0
  • Expense Trash: $4,912
  • Expenses Other: $0
  • Expenses Utility: $0
  • Expenses Total: $42,763
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance, Services - Gardener, Services - Trash Removal
  • Gross Rent Multiplier: 12.91
  • Income Annual Gross: $121,410
  • Income Annual Rental: $127,800
  • Income Gross Scheduled: $127,800
  • Income Other: $0

Property History for 314 Spruce Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 314 Spruce 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
Bay View Elementary School
PublicK to 5

Mission Hill Middle School
Public6 to 8

Harbor High School
Public9 to 12

Santa Cruz 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.

Similar Homes

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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 Karon Properties, Debra Wallace, DRE #01355665; Karon Properties, Eli Karon, DRE #01732369

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.