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1880 46th Ave, CAPITOLA, CA – $3,925,000

  • $3.9M Price
  • 7,813 Sqft
  • .34 Acres
  • $3.9M Price
  • 7,813 Sqft
  • .34 Acres

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1880 46th Ave

The 46th Ave Apartments offer a rare opportunity to purchase a trophy-asset in a supply constrained market, located blocks away from Capitola Village, world-renowned surf destinations, shopping, & high-end dining. Current cap rate of 4.39%, with 6%+ pro forma. The property has undergone a significant exterior renovation, consisting of new paint, new facia replacement, new cedar wood siding, new slurry seal, updated laundry room, & new landscaping. The roof was replaced in 2003 & is in good condition. All windows are dual pane. 4 units have remodeled modern kitchens with shaker cabinets & granite counter tops. There is significant upside in rent potential for the new owner to stabilize income at a higher cap rate. 90% of water bill is billed back to tenants, limiting future increased water expenses and solidifying profit margins. Please reach out to listing agents for a detailed marketing package, due diligence information (rent roll, P&L statements, etc.) & to schedule a tour.

Essential Information

  • MLS® #ML81769709
  • Price$3,925,000
  • Square Footage7,813
  • Acres0.34
  • Year Built1964
  • TypeMulti-Residential
  • Sub-TypeFive or More Units
  • StatusActive

Community Information

  • Address1880 46th Ave
  • AreaCapitola
  • CityCAPITOLA
  • CountySanta Cruz
  • StateCA
  • Zip Code95010

Amenities

  • Parking Spaces3

Utilities

Public Utilities, Individual Electric Meters, Individual Gas Meters

Interior

  • HeatingWall Furnace

Cooling

Room Air Conditioner(s), Ceiling Fan

Exterior

  • RoofFlat/Low Pitch
  • FoundationConcrete Perimeter & Slab

Additional Information

  • ZoningMultifamily Residential

Listing Details

  • AgentAlex Budka
  • OfficeAtlantis Properties
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© 2019 MLSListings Inc. All rights reserved. Based on information from MLSListings MLS as of October 15th, 2019 at 4:54am CDT.
All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS.
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