Beach Property Sale

FOR SALE UNPRICED: Call For Offers - Submit to Listing Agent(s) by 5:00 p.m. PST January 6, 2025
Beach Property Sale - First time on market in over 60 years! Rare offering in the “Path of Progress”! The “Beach South of Laurel Plan Area” in Santa Cruz is slated for many new apartment buildings, retail, and commercial development. 407-409 & 413 Pacific Avenue is just a few blocks (1,200’ or about 400 steps) from the famous beaches of Santa Cruz! The existing rental buildings provide instant income for either an investor or a developer. This property is located within the 29 acre neighborhood “Downtown Plan Expansion Project” with includes opportunities to construct high-rise apartment buildings and a new 4± acre arena project for the Santa Cruz Warriors. All tenants are currently on month-to-month rental agreements. Owners have purposefully kept rents well below market in exchange for having long term, reliable, quality tenants. While this property would be an attractive property for an investor to re-vitalize in its current configuration, it is also appealing to residential developers as the new Downtown Plan Expansion draft shows this property located in a 70’maximum height limit area… allowing for development of a 5-6 story apartment building.
City archive records, preliminary title report, rent roll, expense report, and other property related materials are available to qualified buyers.
Two APN's 007-023-18 & 19 totaling 26,354± SF. Three Addresses: 407 Pacific = 9 apartments @ 5,379± SF 409 Pacific = Single Family Residence @ 1,775± SF 413 Pacific Ave = a warehouse @ 5,712± SF, four garages, one storage room, and a 1000 SF fenced storage yard.
Call Listing Agents Reuben Helick with Cushman & Wakefield US Inc. or Aldo Penniman (DRE 01201327) 831.818.4108 aldopenn40@gmail.com with California Real Estate for further information.