$7,895,000
140 Vernon ST Santa Cruz, CA 95060
33
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$7,895,000
Est. payment /mo
1 BD
2 BA
9,399 SqFt
Active
140 Vernon ST Santa Cruz, CA 95060
UPDATED:
08/15/2024 05:45 PM
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 9,399 sqft
Price per Sqft $839
MLS Listing ID ML81965540
Bedrooms 1
Full Baths 2
Year Built 1999
Lot Size 0.541 Acres
Property Description
Pogonip Terrace features 28 units tucked away in a peaceful, well landscaped and private setting only minutes to downtown Santa Cruz, UCSC and Hwy 17. Pride of ownership is evident at this meticulously maintained 25 year old complex. The 27 studio units and one bedroom managers unit are always in demand and provide reliable cash flow, efficiency in management and significant upside to rents. Each studio has a full kitchen with Maple cabinets, high ceilings, a large closet, full bath and separate sleeping area that fits a queen size bed. Santa Cruz is a desirable investment location due to its strong and increasing rental demand. With the ever expanding University of California, incubator tech-industry, proximity to Silicon Valley, tourist industry and world class beaches, surf, mountain biking and hiking, the Santa Cruz rental market is well positioned for continued strength. New apartments like Pogonip Terrace rarely come available, making this a unique opportunity for investors.
Location
State CA
County Santa Cruz
Area West Santa Cruz
Building/Complex Name Pogonip Terrace
Zoning IG
Interior
Heating Radiant
Cooling None
Flooring Laminate
Exterior
Garage Assigned Spaces
Community Features Garden / Greenbelt / Trails
Utilities Available Public Utilities
Roof Type Composition
Building
Foundation Concrete Perimeter and Slab
Sewer Sewer - Public
Water Public
Others
Restrictions Parking Restrictions,Pets - Not Allowed
Tax ID 008-011-12-000
Security Features None
Special Listing Condition Not Applicable
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Listed by Peter Cook • Lighthouse Realty
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