160 Park Place

Santa Cruz, CA 95060

$3,750,000
Price
Beds
5,681 Sq. Ft.
$660 / Sq. Ft.
5,681
Sq. Ft.
$660
per Sq. Ft.

Description

Meticulously maintained 9 unit property, 160 Park Place is a standout investment opportunity in the heart of Santa Cruz. The building features an ideal floorplan mix with 8 townhome style 1-bedroom/1-bath units with vaulted ceilings, and one studio, attracting a mix of stable, long-term tenants. Additionally, there are nine covered parking spaces and a large storage room with potential for conversion to an on-site income producing laundry area. Recent upgrades include a new roof, updated windows,...Meticulously maintained 9 unit property, 160 Park Place is a standout investment opportunity in the heart of Santa Cruz. The building features an ideal floorplan mix with 8 townhome style 1-bedroom/1-bath units with vaulted ceilings, and one studio, attracting a mix of stable, long-term tenants. Additionally, there are nine covered parking spaces and a large storage room with potential for conversion to an on-site income producing laundry area. Recent upgrades include a new roof, updated windows, termite fumigation, new exterior paint, and sewer lateral improvements. Each unit is 100% electric with separate meters, allowing tenants to pay for their own power while the owner covers trash and water as well as hot water through a central gas water heater. Ideally located just minutes from the beach and major commute routes, 160 Park Place enjoys an excellent walkability score. With many long-term tenants in place and an impressive income-to-expense ratio, this property is a robust addition to any investment portfolio. The current insurance partner is ready to provide coverage for the new owner. Complete marketing package, including financials, inspections, and disclosures available. Don't miss this exceptional chance to own a turn key high performing investment property. Est. 5% CAP
  1. Listed by Daniel Oster • DRE #01381869 • Brokerage DRE #01908304 • Coldwell Banker Realty • 831-252-5000

Property Details for 160 Park Place

MLS City Name
SANTA CRUZ
Building Type
Other
Garage Spaces
0
Parking Spaces
0
LISTING UPDATED: 11/12/2024 12:04 PM

Property Details for 160 Park Place

StatusActive
MLS #ML81979466
Days on Compass11
Taxes$38,535 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family 5+
MLS Type5+ Units / Five or More Units
Year Built1978
Lot Size0.11 AC / 4,922 SF
CountySanta Cruz County

Building Information for 160 Park Place

Stories-Residences-Year Built1978Building Size-Lot Size0.11 AC / 4,922 SF

Property Information for 160 Park Place

Features
Features
  • Fireplace: No
  • Living SqFt: 5681
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Electric
  • Meters: Master Electric, Master Gas, Separate Electric
  • Sewer Septic: Sewer Connected
  • Utilities: Individual Electric Meters, Natural Gas, Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 9
Garage
  • Garage and Parking: Carport
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 9
  • Area Text: West Santa Cruz
  • Restrictions: None
  • Roof: Composition
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 160
  • Street Name: Park
  • Street Suffix: Place
  • Area ID: 43
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 5681
  • Structure SqFt Source: Assessor
  • Age: 46
Development Information
  • Zoning Detail: Mutlires
Location Information
  • Parcel Number: 007-292-29-000
  • 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 Block, Concrete Slab, Pillars / Posts / Piers
  • Lot Acres: .11
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
Building Information
  • No Of Leased: 7
General Information
  • Annual Tax Amount: $38,535
  • Capitalization Rate: 4.98
  • Tenant Expenses: Utilities - Electric
  • Income Includes: Rents
  • Vacancy Factor: 0
Income / Expense Details
  • Expense Insurance: $13,773
  • Expense Landscape: $0
  • Expense Maintenance: $1,996
  • Expense Management: $0
  • Expense Trash: $12,889
  • Expenses Other: $114
  • Expenses Utility: $2,768
  • Expenses Total: $70,075
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance, Utilities, Utilities - Hot Water
  • Gross Rent Multiplier: 14.60
  • Income Annual Gross: $256,800
  • Income Annual Rental: $256,800
  • Income Gross Scheduled: $256,800
  • Income Other: $0
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 1
  • Unit 1 Rent: $1,800
Unit 2 Information
  • Unit 2 Approx Square Footage: 360
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Rent: $2,233
Unit Type 1
  • Unit Type1 Approx SqFt: 600

Property History for 160 Park Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 160 Park Place

Taxable ValueLand$922,446Additions$657,329Total$1,579,775
Tax Record2024$18,227 ($1,519 / month)
Home Facts
Baths9Total Finished SqFt5,681 SqFtAbove Grade Finished SqFt5,681 SqFtLot Size4,922 SqFtStyleMulti-Family Res (5+ Units)Year Built1978CountySANTA CRUZAPN007-292-29

Schools near 160 Park Place

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
Gault 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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160 Park Place is for sale in Santa Cruz, CA 95060. This property was listed for sale on November 6, 2024 by Coldwell Banker Realty, it's currently listed at $3,750,000. It has been on the market for a total of 11 days and was last sold on March 4, 2005. This listing's school districts are Santa Cruz City High School District, Santa Cruz City Elementary School District. Nearby schools include Gault Elementary School, Mission Hill Middle School and Harbor High School. 160 Park Place is a 0-bed, 0-bath, 5,681 sqft built in 1978.

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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Realty, Daniel Oster, DRE #01381869

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.