1606 Soquel Ave, Santa Cruz, CA 95062-1316
- Apartment buildings
- 16,244 SF
- 0.45 lot acres
Current Use by Public Records
- Redwood Commons Apartments / Apartment Building
Property Details for 1606 Soquel Ave
- Year built
- 2008
- Construction
- WOOD
- Lot size
- 0.45 lot acres
- Property type
- Apartment buildings
- APN
- 011-032-73
- APU
- 1103273
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Oct 21, 2020 | — | Redwood Commons LLC | — | Deed · related | $2.4M · Bellwether Ent R/e Cap |
| Sep 22, 2020 | — | Redwood Commons LLC | — | Deed · related | $2.4M · Bellwether Ent R/e Cap |
| Oct 15, 2007 | — | Redwood Commons LLC | — | Trustees Deed · related | $2.7M · Bank Of The West |
| Jan 4, 2007 | — | Redwood Commons LLC | Wilson Entities Ltd | Grant Deed | — |
| Jul 3, 2006 | — | City Of Santa Cruz | Wilson Entities Ltd | Grant Deed · related | — |
| — | — | Wilson Entities | — | Deed Of Trust · related | $1.5M · Pacific Western National Bank |
| — | — | Wilson Entities LP | — | Deed Of Trust · related | $400k · Coast Commercial Bank |
| — | — | Redwood Commons LLC | — | Loan Modification · related | $2.4M · Bellwether Ent R/e Cap |
| — | — | Redwood Commons LLC | — | Loan Modification · related | $2.4M · Bellwether Ent R/e Cap |
Description
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.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $6,970,000
- 6.5%
- $6,435,000
- 7%
- $5,975,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Santa Cruz
- County
- Santa Cruz
- State
- California
- Longitude
- -122.004
- Latitude
- 36.9811
- CBSA code
- 42100
- CBSA name
- SANTA CRUZ-WATSONVILLE, CA METROPOLITAN STATISTICAL AREA
