1606 Soquel Ave Santa Cruz, CA 95062-1316

This exceptional Class A, stabilized multifamily investment property, Redwood Commons, presents a rare opportunity. Located at 1606 Soquel Ave, Santa Cruz, CA 95062, this property boasts 15,000 square feet of net rentable space across three 3-story buildings, constructed in 2008. The complex comprises 38 studio apartments and one 1-bedroom apartment situated above a 600 square foot commercial space. Currently operating at 100% occupancy, the property generates substantial income, with each studio apartment yielding $1700 per month and the combined 1-bedroom/commercial space producing $3900 monthly. The property is fully solar-powered, featuring photovoltaic and hot water systems, significantly reducing operating costs. Zoned C1, Redwood Commons is a fully accessible, green building designed for universal living, currently serving a significant veteran community utilizing HUD-VASH vouchers. The property is offered as a partnership (LLC) and includes four parking pads. This turnkey investment presents a strong cash flow with an assumable loan at a 2.3% interest rate. The property's location in a high-demand rental market in Santa Cruz, California, ensures continued strong performance and potential for future appreciation. This is a truly exceptional opportunity for a savvy investor seeking a stable and high-yielding asset.