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Listed by Albers Real Estate Investment Company
$ 1,195,000
Est. payment /mo
Pending
236 Locust Street Watsonville, CA 95076
2,300 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 2,300 sqft
Price per Sqft $519
MLS Listing ID ML82040986
HOA Y/N No
Year Built 1931
Lot Size 8,886 Sqft
Property Sub-Type Other
Source Datashare MLSListings
Property Description
Lowest priced 5-unit complex in Santa Cruz County. Great opportunity for investors looking for revenue & financial returns vs great neighborhoods. $109,000 in Scheduled Gross Income delivers profitable returns - 10.07 GRM and 6.35% cap rate on current rents at full price. Rents have not been increased in several years. All units were remodeled in 2020. The complex has 4 one-bedroom units and a studio. New roofs for all buildings are pending in the spring of 2026. All asphalt was redone in 2023. Future capital improvement costs are minimal for several years. The complex is close to downtown Watsonville and Highway One.
Location
State CA
County Santa Cruz
Interior
Heating Electric
Cooling None
Flooring Laminate, Tile
Fireplace No
Appliance Refrigerator
Laundry Coin Operated