123 Pearl St | Santa Cruz, CA 95060
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123 Pearl St
Santa Cruz, CA 95060
Multifamily Property For Sale · 9 Units
Executive Summary
123 Pearl Street is a quaint 9 unit building located on a quiet mostly single family neighborhood near the San Lorenzo river. This Property includes: (2) 2 Bedroom / 1 Bathroom Units, (5) 1 Bedroom / 1 Bathroom Units, and (2) Studios. The property features vaulted wood ceilings, a new roof in 2023, and fully upgraded electrical system. Most units boast upgraded flooring and granite counters with five of the units having dual entry. 123 Pearl St. is 3/5 of a mile to the Beach and Boardwalk (83 Walk Score & 99 Bike Score). Can be purchased separately or in combination with 409 2nd St (4 Units) and or 413-417 2nd St. (12 Units).
PROPERTY FACTS
| Price Per Unit | $313,889 | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 5,152 SF |
| Cap Rate | 6.33% | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.87 | No. Stories | 1 |
| No. Units | 9 | Year Built | 1959 |
| Property Type | Multifamily | Parking Ratio | 1.75/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Building Class | C |
| Price Per Unit | $313,889 |
| Sale Type | Investment |
| Cap Rate | 6.33% |
| Gross Rent Multiplier | 11.87 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 5,152 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1959 |
| Parking Ratio | 1.75/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Disposal
- Heating
- Ceiling Fans
- Vaulted Ceiling
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 350 |
| 1+1 | 5 | - | 550 |
| 2+1 | 2 | - | 650 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $885,853 | |
| Land Assessment | $1,820,921 | Total Assessment | $2,706,774 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,820,921
Improvements Assessment
$885,853
Total Assessment
$2,706,774
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