4602 Scotts Valley DR

SCOTTS VALLEY, CA, 95066

$2,795,000

$521 per ft²
$2,795,000
$521 per ft²
Active
Active
 - For Sale
carpenters-square
5,364 ft²
property_type
Commercial
calendar
Built 1981
Over 5% GO In CAP Rate.Rents just went Up; price went down. Price reduced and new scheduled rents(last increase effective 11/1/2022) w recent rent increases up an additional $950/mo adding over $200K in Value. Extremely rare opportunity to own an outstanding multi-res property in fantastic core Scotts Valley location. Scotts Valley known for best schools in county, ideal for commuters to Silicon Valley and Santa Cruz County, fun small town USA. Right on Scotts Valley Dr so convenient to all of town. The property is over 1/2Ac- 24,263 sq ft, providing upside/value add through increasing density or other development options. Go in 4.67% Cap Rate w/over $3500/mo loss to lease w some legacy tenants is a short term option to improve yield. All units set back from street. Rear of property has nice creek setting. Current configuration provides over 20 parking spaces. 4 of 6 units have been updated. New roof in 2017 Easy to own solid investment property now one to hold and enjoy long term.
MLS® ID:
ML81898741
Updated:
8/10/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Floor Description
Carpet, Vinyl / Linoleum, Other
Cooling
None
Heating
Central Forced Air - Gas

Exterior/Building Features

Lot Size
0.56 acres lot
Lot Details
Grade - Level, Grade - Sloped Down
Roof
Composition, Concrete, Tile
Sewer
Sewer - Public, Sewer Connected

Other Property Details

Area Name
39
Garage
Yes
Parking
Guest / Visitor Parking, Off-Street Parking, Parking Area, Uncovered Parking
Parking Total
20.0
View
Y
County
Santa Cruz
Utilities
Individual Electric Meters, Individual Gas Meters, Public Utilities
Water Source
Public
Pool
Yes
Zoning
CS

Property History

Date
Event
Price
Value
7/27/22
Price Change
$2,795,000
-2%

 

Courtesy of Andy Kay, eXp Realty of California Inc.

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Data last updated 7:41 PM UTC, 8/10/22

 

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