8 Unit Multi-Family Estate
- 10 Beds
- 8 Baths
- 5900 SqFt.
121 Sylvar Street, Santa Cruz, CA 95062
Crown Jewell of 8x property multi-residential portfolio. Currently a 5.19% Cap Rate on present income/expenses. Still large value-add and upside components here. Prime Santa Cruz city location with easy walks to downtown, and directly across from Mission Plaza and Holy Cross church with a spacious park across the road. The units have been meticulously cared for over the years and still retain their original character. Great unit mix, of two 2Bd/1Bth and six 1Bd/1Bth. This property is offered as part of a five-property portfolio or bought individually.
As a value-add the Seller is also in process of acquiring entitlements to add 4 new units/homes to property with City of Santa Cruz. These plans will convert the carports into two – 2Bd/1bth units and add two additional new homes approx. 3Br 900+sq ft each.
Offers are due on or before Sept 9, 2022 at 5pm. The Seller reserves the right to accept or reject any offers.