Updated 55+ Park
150-1555 Merrill St Santa Cruz, CA 95062
For Sale
$429,000
Pending
Updated two-bedroom, two-bath home in an active 55+ rent-control community with private patio and dedicated parking.
Property Size1,008 SF
Days on Market77
Property Features for 150-1555 Merrill St
General Information
Standard status
Pending
Size
1,008 SF
Property subtype
Manufactured In Park
Listing Agency:
Amber Grewer Real Estate
(831) 345-9963
Listed By:
Teri Brager
(831) 345-9963
Source:
Exprealty
Added: May 14
Changed: Jul 25
Last Checked: Jul 26 at 8:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Amber Grewer Real Estate
Investment Insights
Based on property information with market context.
This updated two-bedroom, two-full-bath home is positioned within an active 55+ rent-control community. The interior features a new gas stove, quartz countertops, custom backsplash, and durable luxury vinyl plank flooring. The home includes private outdoor space with a patio and landscaped garden, along with a dedicated 2-car driveway and a storage shed. Community amenities include a pool, three dedicated clubhouses, and on-site laundry facilities.
The property is offered in Shoreline Mobile Estates. Public directions note entry to the park on Merrill with specific turn guidance to reach the home, or entry off 17th Ave with instructions to turn right after Shoreline onto an unmarked road.
The listing describes the home as move-in ready with numerous updates already completed and no property tax noted in the remarks.
The property is offered in Shoreline Mobile Estates. Public directions note entry to the park on Merrill with specific turn guidance to reach the home, or entry off 17th Ave with instructions to turn right after Shoreline onto an unmarked road.
The listing describes the home as move-in ready with numerous updates already completed and no property tax noted in the remarks.
Key Highlights
- Updated 2‑bedroom, 2‑full‑bath home in an active 55+ rent‑control community (Shoreline Mobile Estates).
- New gas stove, quartz countertops, custom backsplash, and new luxury vinyl plank (LVP) flooring throughout.
- Private patio with landscaped garden, plus a storage shed for outdoor gear.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.4k | $48.00 |
| − Vacancy | −$1.2k | −$1.20 |
| EGI | $47.2k | $46.80 |
| − OpEx | −$21.2k | −$21.06 |
| NOI | $25.9k | $25.74 |
1,008 SF · lease $48.00/SF/yr · vacancy 2.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$370.7K
$324.3K – $432.4K
NOI $25,946 @ 7.0% cap · market cap 6.05%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$576.4K
$504.3K – $672.4K
NOI $40,346 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Updated two-bedroom, two-bath home in an active 55+ rent-control community with private patio and dedicated parking.
Where is this mobile home & rv park located?
The property is located at 150-1555 Merrill St Santa Cruz, CA.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Updated 2‑bedroom, 2‑full‑bath home in an active 55+ rent‑control community (Shoreline Mobile Estates).; New gas stove, quartz countertops, custom backsplash, and new luxury vinyl plank (LVP) flooring throughout.; Private patio with landscaped garden, plus a storage shed for outdoor gear.
