Beach Hill Court Apts | 413 2nd St
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Beach Hill Court Apts 413 2nd St
12 Unit Apartment Building $3,750,000 ($312,500/Unit) 5.65% Cap Rate Santa Cruz, CA 95060
Executive Summary
413-417 2nd Street is a gorgeous collection of 12 spanish style cottages. The property includes: (8) 1 Bedroom / 1 Bathroom apartments and (4) Studios. The property features lush landscaping with 8 of the units individually framed not sharing a wall with any neighboring units. Multiple units have new roofs and tankless water heaters. The (Realist*) building square footage of 3,952 is incorrect. Independent square footage measurement is 5,680 square feet. Buyer to verify. 413-417 2nd St. shares a property line with 409 2nd St. They are less than ¼ mile to the Beach and Boardwalk (88 Walk Score & 97 Bike Score).
Property Facts
| Price | $3,750,000 | Apartment Style | Garden |
| Price Per Unit | $312,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 5.65% | Building Size | 3,952 SF |
| Gross Rent Multiplier | 12.52 | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1938 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $3,750,000 |
| Price Per Unit | $312,500 |
| Sale Type | Investment |
| Cap Rate | 5.65% |
| Gross Rent Multiplier | 12.52 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 3,952 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1938 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 570 |
| 1+1 | 8 | - | 418 - 494 |
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Walk Score ®
Very Walkable (88)
Bike Score ®
Biker's Paradise (97)
PROPERTY TAXES
| Parcel Number | 007-213-01-000 | Improvements Assessment | $1,433,665 |
| Land Assessment | $1,080,938 | Total Assessment | $2,514,603 |
PROPERTY TAXES
Parcel Number
007-213-01-000
Land Assessment
$1,080,938
Improvements Assessment
$1,433,665
Total Assessment
$2,514,603
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Beach Hill Court Apts | 413 2nd St
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