321 Second Street

Santa Cruz, CA 95060

$4,850,000
Price
Beds
5,920 Sq. Ft.
$819 / Sq. Ft.
5,920
Sq. Ft.
$819
per Sq. Ft.

Description

"Prime Investment Opportunity". This 12-unit apartment building has been in the same family for over 40 years. Currently the tenants have month to month leases with rents well below the current market rates. There are 11 one-bedroom apartments and 1 studio apartment, private patio decks, many with ocean views including one with a roof top deck with views of the entire bay. Exterior has been freshly painted and a new roof installed in 2023. Close to all amenities including walking distance to the..."Prime Investment Opportunity". This 12-unit apartment building has been in the same family for over 40 years. Currently the tenants have month to month leases with rents well below the current market rates. There are 11 one-bedroom apartments and 1 studio apartment, private patio decks, many with ocean views including one with a roof top deck with views of the entire bay. Exterior has been freshly painted and a new roof installed in 2023. Close to all amenities including walking distance to the Santa Cruz Boardwalk, beach, wharf, and restaurants. Offering a lucrative opportunity with a possible Pro Forma of 6.4%+ CAP Rate.
  1. Listed by John Skillicorn • DRE #01875872 • Brokerage DRE #01908304 • Coldwell Banker Realty • 831-818-1540
  2. Listed by Sean Poudrier • DRE #01932326 • Brokerage DRE #01908304 • Coldwell Banker Realty

Property Details for 321 Second Street

MLS City Name
SANTA CRUZ
Building Type
Other
Complex Name
Anchor Apartments Of Santa Cruz
Garage Spaces
0
Parking Spaces
8
View
City, Ocean

Location

Listing Courtesy of Coldwell Banker Realty, John Skillicorn, DRE #01875872; Coldwell Banker Realty, Sean Poudrier, DRE #01932326
Add your commute
LISTING UPDATED: 03/27/2024 11:19 AM

Property Details for 321 Second Street

StatusActive
MLS #ML81958891
Days on Compass34
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1946
Lot Size0.25 AC / 11,021 SF
CountySanta Cruz County

Location

Listing Courtesy of Coldwell Banker Realty, John Skillicorn, DRE #01875872; Coldwell Banker Realty, Sean Poudrier, DRE #01932326
Add your commute

Building Information for 321 Second Street

Stories-Residences-Year Built1946Building Size-Lot Size0.25 AC / 11,021 SF

Payment Calculator

$27,430 per month

30 year fixed, 7.25% Interest

Principal and Interest

$26,468

Property Taxes

$962

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 321 Second Street

Features
External Links
Room Information
  • Additional Rooms: Laundry Room, Other
Features
  • Fireplace: No
  • Flooring: Carpet, Vinyl / Linoleum
  • Laundry: Coin Operated
  • Living SqFt: 5920
  • Pool: No
  • Security Features: None
  • Special Features: Bathroom Features, Kitchen Features
Utilities
  • Cooling: None
  • Heating: Electric
  • Meters: Master Gas, Separate Electric
  • Sewer Septic: Sewer - Public
  • Utilities: Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 4
Garage
  • Garage and Parking: Carport, Common Parking Area, Covered Parking, Lighted Parking Area, No Garage, Off-Street Parking
Property Details
Homeowners Association
  • HOA Amenities: Common Utility Room
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 12
  • Area Text: West Santa Cruz
  • Restrictions: Other
  • Roof: Bitumen, Flat / Low Pitch
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 321
  • Street Name: 2nd
  • Street Suffix: Street
  • Area ID: 43
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 5920
  • Structure SqFt Source: Assessor
  • Age: 78
Development Information
  • Ownership Type: Other Business Ownership
  • Zoning Detail: Apt 11-20 Units
Location Information
  • City Limits: Yes
  • Parcel Number: 007-213-04-000
  • 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, Crawl Space
  • Lot Acres: .25
  • Lot Description: Views
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
  • Yard Grounds: Back Yard, Balcony / Patio, Deck, Storage Shed / Structure
Multi Family Information
Building Information
  • No Of Leased: 12
General Information
  • Annual Tax Amount: $0
  • Capitalization Rate: .00
  • Tenant Expenses: Utilities - Electric
  • Income Includes: Laundry, Rents
  • Vacancy Factor: 0
Income / Expense Details
  • Expense Insurance: $0
  • Expense Landscape: $0
  • Expense Maintenance: $0
  • Expense Management: $0
  • Expense Trash: $0
  • Expenses Other: $0
  • Expenses Utility: $0
  • Expenses Total: $0
  • Operating Expenses Include: Fee - Property Tax, Insurance, Loan - Mortgage, Maintenance - Repair, Services - Sewer, Services - Trash Removal, Utilities - Water
  • Gross Rent Multiplier: 3456.88
  • Income Annual Gross: $0
  • Income Annual Rental: $0
  • Income Gross Scheduled: $0
  • Income Other: $0
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 1
  • Unit 1 Rent: $1,650
Unit 2 Information
  • Unit 2 Approx Square Footage: 493
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 0
  • Unit 2 Rent: $1,700
Unit Type 1
  • Unit Type1 Approx SqFt: 493

Property History for 321 Second Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 321 Second Street

Taxable ValueLand$339,076Additions$614,226Total$953,302
Tax Record2023$11,546 ($962 / month)
Home Facts
Total Finished SqFt5,920 SqFtAbove Grade Finished SqFt5,920 SqFtStories2Lot Size11,021 SqFtStyleMulti-Family Res (5+ Units)Year Built1946CountySANTA CRUZAPN007-213-04

Schools near 321 Second 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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Similar Sold Homes

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321 Second Street is a multi-family home for sale in Santa Cruz, CA 95060. This property was listed for sale on March 25, 2024 by Coldwell Banker Realty, it's currently listed at $4,850,000. This listing's school districts are Santa Cruz City High School District, Santa Cruz City Elementary School District. Nearby schools include Bay View Elementary School, Mission Hill Middle School and Harbor High School. 321 Second Street is a 0-bed, 0-bath, 5,920 sqft multi-family home built in 1946.

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 Coldwell Banker Realty, John Skillicorn, DRE #01875872; Coldwell Banker Realty, Sean Poudrier, DRE #01932326

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.