231 Felix St Santa Cruz, CA 95060

This exceptional investment opportunity presents a portfolio of four adjacent parcels in Santa Cruz, CA, totaling 16 townhome-style units. Each parcel features a fourplex building, constructed in 1964, offering a unique blend of versatility and income potential. The property boasts 11,168 square feet of net rentable space, currently operating at 100% occupancy, generating a current NOI of $273,880 and a 4.56% cap rate. A pro-forma NOI of $352,916 projects a 5.88% cap rate, reflecting significant upside potential. The property is zoned R-L and includes 16 parking spaces. Located just steps from downtown Santa Cruz and Mission Street's vibrant shops and restaurants, and within a mile of UC Santa Cruz, this portfolio benefits from exceptionally high rental demand. The individual parcels offer flexibility for investors seeking to sell separately or hold for long-term rental income. Each unit is a one-bedroom townhome-style apartment. The asking price is $6,000,000, or $375,000 per unit. The property's APN numbers are 004-022-20, 004-022-19, 004-022-08, and 004-022-09. This is a rare opportunity to acquire a well-located, high-performing multifamily portfolio with substantial upside potential.