4602 Scotts Valley Dr, Scotts Valley, CA 95066
- $2,795,000
- 5,364
- SqFt
- List Price
- $2,795,000
- Price Change
- ▼ $80,000 1658988091
- Closing Date
- Nov 16, 2022
- MLS#
- ML81898741
- Status
- CONTINGENT
- Sqft. of Residence
- 5,364
- Lot Size
- 24,263
- Listing Area
- Scotts Valley
- Year Built
- 1981
Property Description
Over 5% GO In CAP Rate.Rents just went Up; price went down. Price reduced and new scheduled rents(last increase effective 11/1/2022) w recent rent increases up an additional $950/mo adding over $200K in Value. Extremely rare opportunity to own an outstanding multi-res property in fantastic core Scotts Valley location. Scotts Valley known for best schools in county, ideal for commuters to Silicon Valley and Santa Cruz County, fun small town USA. Right on Scotts Valley Dr so convenient to all of town. The property is over 1/2Ac- 24,263 sq ft, providing upside/value add through increasing density or other development options. Go in 4.67% Cap Rate w/over $3500/mo loss to lease w some legacy tenants is a short term option to improve yield. All units set back from street. Rear of property has nice creek setting. Current configuration provides over 20 parking spaces. 4 of 6 units have been updated. New roof in 2017 Easy to own solid investment property now one to hold and enjoy long term.
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Additional Information
- Acres
- 0.557
- Age
- 41
- Cooling System
- None
- Floor Covering
- Carpet, Vinyl / Linoleum, Other
- Foundation
- Concrete Perimeter
- Garage Parking
- Guest / Visitor Parking, Off-Street Parking, Parking Area, Uncovered Parking
- Heating System
- Central Forced Air - Gas
- Living Area
- 5,364
- Lot Description
- Grade - Level, Grade - Sloped Down
- Lot Size
- 24,263
- Neighborhood
- Scotts Valley
- Other Utilities
- Individual Electric Meters, Individual Gas Meters, Public Utilities
- Roof
- Composition, Concrete, Tile
- Sewer
- Sewer - Public, Sewer Connected
- Unincorporated Yn
- Yes
- Zoning
- CS
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Listing courtesy of Andy Kay from eXp Realty of California Inc.
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