NOT LISTED FOR SALE

Watsonville, CA 95076

-- Bed
1 Bath
60,410 Sq Ft
3.38 Acres

Last Sold June 17, 2020

Last sale price $14,850,000 $246 Per Sq Ft

39 Days on Market

Highlights

  • City Lights View
  • Traditional Architecture
  • Balcony
  • 3.38 Acre Lot
  • Den
  • 80 Car Attached Garage

About This Home

As of June 2020

This very well maintained apartment complex is conveniently located within the heart of the Watsonville Multi Residential district, and convenient to schools, shopping, public transportation, all City services, and Highway One. Watsonville and the Pajaro Valley are located within one of the most important fruit and vegetable regions of the United States, as such, most tenants have employment almost the entire year. All 80 apartment units have private enclosed garages plus assigned outside second parking spaces. (3 One Bedroom One Bath; 56 Two Bedroom One Bath; 21 Three Bedrooms One Bath) This Garden Hill Apartment Complex enjoys a zero vacancy rate, and current rent rates are being increased. Each apartment unit has a private balcony or patio, and the on site coin operated laundry offers 10 wash machines and 10 dryers. Exterior paint and all roofs were re-done 2010 Don't miss this special investment opportunity, that is performing very well during current economic conditions.

Last Agent to Sell the Property

Charles Allen

KW Thrive Santa Cruz License #00357826 Listed on: 04/11/2020

KW Thrive Santa Cruz

Last Buyer's Agent

Charles Allen

KW Thrive Santa Cruz License #00357826 Listed on: 04/11/2020

KW Thrive Santa Cruz

Property Details

Home Type

  • Multi-Family

Year Built

  • 1987

Lot Details

  • 3.38 Acre Lot
  • Fenced
  • Paved or Partially Paved Lot
  • Corners Of The Lot Have Been Marked
  • Gentle Sloping Lot
  • Sprinkler System
  • Drought Tolerant Landscaping

Parking

  • 80 Car Attached Garage
  • Lighted Parking
  • Guest Parking
  • Uncovered Parking
  • Assigned Parking

Property Views

  • City Lights
  • Hills

Home Design

  • Traditional Architecture
  • Reinforced Concrete Foundation
  • Wood Frame Construction
  • Composition Roof
  • Quake Bracing

Interior Spaces

  • 60,410 Sq Ft Home
  • 2-Story Property
  • Double Pane Windows
  • Den
  • Storage Room
  • Laundry Room

Kitchen

  • Gas Oven
  • Range Hood
  • Formica Countertops
  • Disposal

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • Low Flow Toliet
  • Low Flow Shower

Home Security

  • Security Lights
  • Fire and Smoke Detector

Outdoor Features

  • Balcony

Utilities

  • Wall Furnace
  • Vented Exhaust Fan
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $1,203,601

Community Details

Building Details

  • 80 Leased Units
  • Gardener Expense $6,000
  • Insurance Expense $21,905
  • Maintenance Expense $28,854
  • Manager Expense $94,201
  • Other Expense $80,947
  • Utility Expense $115,710
  • Trash Expense $57,046
  • Operating Expense $534,966
  • Gross Income $1,274,601

Additional Features

  • 60,410 Sq Ft Building
  • Coin Laundry

Property Details

Home Type

Multi-Family

Year Built

1987

Lot Details

0

Parking

80

Listing Details

  • Zoning: R-3
  • Subclass: Multiple Dwellings / Structures
  • Style: Traditional
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 60410
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1987

Interior Features

  • Kitchen: Countertop - Formica, Exhaust Fan, Garbage Disposal, Hood Over Range, Oven Range - Gas, Refrigerator
  • Living Sq Ft: 60410
  • Stories: 2
  • Security: Fire Alarm, Security Lights
  • Laundry: Coin Operated
  • Flooring: Carpet, Vinyl / Linoleum
  • Additional Rooms: Laundry Room, Office Area, Storage

Exterior Features

  • Foundation: Quake Bracing, Reinforced Concrete
  • Roof: Composition
  • View: City, City Lights, Hills
  • Yard/Grounds: Balcony / Patio, Drought Tolerant Plants, Fenced, Sprinklers - Lawn
  • Construction Type: Wood, Wood Frame

Garage/Parking

  • Garage Spaces: 80
  • Parking Spaces: 100
  • Garage Parking Features: Assigned Spaces, Attached Garage, Guest / Visitor Parking, Lighted Parking Area, Uncovered Parking

Utilities

  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer - Public, Sewer Connected

Schools

  • High School: 828

Lot Info

  • Lot Description: Corners Marked, Grade - Gently Sloped, Paved, Surveyed
  • Lot Acres: 3.3760
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 147059.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 147059.00

Green Features

  • Energy Features: Double Pane Windows, Low Flow Shower, Low Flow Toilet

Rental Info

  • Existing Lease Term(s): Lease Agreement - Written, Month To Month, Security Deposit
  • Gross Rent Multiplier: 11.77
  • Number Of Leased: 80

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters, Natural Gas, Public Utilities
  • Expense Insurance: 21905
  • Expense Landscape: 6000
  • Expense Maintenance: 28854
  • Expense Management: 94201
  • Expenses Other: 80947
  • Expenses Total: 534966
  • Expenses Utility: 115710
  • Expense Trash: 57046
  • Income Annual Gross: 1274601.00
  • Income Annual Rental: 1203601
  • Income Gross Scheduled: 1274601
  • Income Includes: Laundry, Rents
  • Income Other: 71000
  • Meters: Master Water, Separate Common Area, Separate Electric, Separate Gas
  • Number Of Buildings: 12
  • Operating Expenses Include: Accounting/Legal, Equipment/Fixture Rental, Fee - Property Management, Fee - Property Tax, Insurance, Maintenance, Salary Employee(s), Services - On-Site Manager, Services - Sewer, Services - Trash Removal, Supplies, Telephone, Utilities - Gas, Utilities - Water
  • Tenant Expenses: Utilities - Electric, Utilities - Heating, Utilities - Hot Water

Range of Values:

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Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/17/2020 06/17/20 Sold $14,850,000 -1.0% $246 / Sq Ft
05/21/2020 05/21/20 Pending -- -- --
04/11/2020 04/11/20 For Sale $15,000,000 -- $248 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2020

    Charles Allen

    KW Thrive Santa Cruz

    (831) 818-1069

    3 in this area

    23 Total Sales

    Charles Allen
    Section Image
See All Agents

Source: MLSListings

MLS Number: ML81789178

MLSListings
California Santa Cruz County Watsonville

95076

Not Listed for Sale

MultiFamily

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