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$2,700,000
Est. payment /mo
5,111 SqFt
UPDATED:
01/25/2025 12:24 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,111 sqft
Price per Sqft $528
MLS Listing ID ML81984537
HOA Y/N No
Year Built 1922
Lot Size 1.533 Acres
Acres 1.53
Property Sub-Type Other
Property Description
Multi-Family Income Property Along the San Lorenzo River in the Beautiful Redwoods of Ben Lomond, In the heart of Ben Lomond, this unique 9-unit income property offers a rare opportunity to own a piece of paradise. Situated on over 1.5 acres of tranquil, creekside land along the San Lorenzo River, this property is surrounded by majestic redwoods, offering both privacy and beauty. Walk to downtown Ben Lomond or 20 Minutes to the Beaches of Santa Cruz. The property is almost always fully rented and earns great income for the owners. The complex boasts a great mix of units: 3-bed/2-bath, 2-bed/1-bath, and 1-bed/1-bath, plus studio apartments. The property has long-term tenants and very low turnover. This property generates a gross income of $286,452 annually, with an additional $1200 in bonus income from the laundry, delivering an excellent 6%+ CAP rate. This works out to about $300K per unit. For potential owner-occupiers, the spacious 3-bed/2-bath home offers the opportunity to live in a serene, creekside setting while covering your expenses with rental income from the other units. This is a fantastic investment opportunity in one of the most picturesque locations in Ben Lomond. Don't miss your chance to own this incredible piece of real estate!
Location
State CA
County Santa Cruz
Zoning RM-6
Interior
Heating Natural Gas, Wall Furnace
Cooling None
Flooring Tile
Fireplace No
Laundry Coin Operated
Building
Water Public
New Construction No
Others
Tax ID 07715119000
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Listed by Room Real Estate
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Parisa Samimi
Founder & Real Estate Broker | License ID: 01858122
Founder & Real Estate Broker License ID: 01858122