2651-2661 Fresno ST, Santa Cruz, CA 95062
- $4,245,000
- 6,656
- SqFt
Listed by Helen Pastorino, 408-930-6244 from Pertria
(If provided) CoList: Chris Crego from Pertria
- List Price
- $4,245,000
- MLS#
- ML82053491
- Status
- ACTIVE
- Sqft. of Residence
- 6,656
- Lot Size
- 30,056
- Listing Area
- Live Oak
- Year Built
- 1970
Property Description
EXCELLENT OPPORTUNITY WHETHER A DEVELOPER OR AN INVESTOR. 2651-2661 Fresno Street is a rare jewel in the heart of Santa Cruz's coveted 26th Ave neighborhood, just 0.3 miles from the beach & surrounded by the coastal lifestyle that makes this pocket so desirable. For a developer, the opportunity is exceptional: feasibility study recommends redevelopment into 3-story townhomes, w/ Option A identifying a 13-unit townhouse concept utilizing State Density Bonus Laws. While pursuing entitlements, the property offers the rare advantage of in-place income, generating $26,000+ per month from 8 updated, fully leased residential units. For an investor, the existing asset is equally compelling. The upside or future opportunity to secure cash flow & retain the upside to sell, entitle or develop for add'l value. The property has updated kitchens & baths, private fenced-in yards, large common area w/ chairs & fire pit, fresh exterior paint & new landscaping, separate gas & electrical meters, 2 laundry rooms w/ app-operated payment, 8 carports & 10 onsite parking. In a market defined by limited housing supply, strong rental demand & exceptional beach proximity, Fresno Street offers immediate income today w/ a seductive path toward future upside tomorrow. Enjoy!
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Additional Information
- Acres
- 0.69
- Cooling System
- None
- Energy Features
- Double Pane Windows, Low Flow Shower, Low Flow Toilet
- Floor Covering
- Carpet, Tile, Vinyl / Linoleum
- Foundation
- Concrete Slab
- Garage Parking
- Assigned Spaces, Carport, On Street, Parking Restrictions, Uncovered Parking
- Heating System
- Wall Furnace
- Laundry Facilities
- Washer / Dryer
- Living Area
- 6,656
- Lot Description
- Grade - Level
- Lot Size
- 30,056
- Neighborhood
- Live Oak
- Other Rooms
- Laundry Room
- Other Utilities
- Individual Electric Meters, Individual Gas Meters, Public Utilities
- Roof
- Bitumen, Composition, Fiberglass, Shingle
- Sewer
- Sewer - Public
- Unincorporated Yn
- Yes
- Zoning
- RM-5-PP
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