1112 Mission Street, Santa Cruz, CA 95060
Commercial property
Sold September 2024
Listing Agent: Jimmy Castellanos (DRE #02024152) · Listing Office: Marcus & Millichap · Contact: (650) 391-1700 · Bought with: Jimmy Castellanos · Marcus & Millichap · MLS #ML81976660 · Source: CRMLS
About this commercial property
Presenting an exceptional multifamily investment opportunity situated on an expansive one acre lot located at 1112 Mission Street in Santa Cruz, CA. This rare gem features 15 charming cottage-style residential units, including one studio, thirteen one-bedroom and one two-bedroom single-story cottages. The demand for rental housing in Santa Cruz has never been higher, particularly near UC Santa Cruz, which is just over a mile from this property. With a constant influx of students seeking housing, 1112 Mission Street offers a steady stream of potential tenants, ensuring low vacancy rates and consistent rental income. The city's rental market has tightened significantly since the pandemic, with investors witnessing strong rent growth across the board. This trend has been particularly pronounced in areas near the university, where housing options are limited and competition is fierce. The property's location not only attracts students but also appeals to professionals and families, further broadening the pool of potential tenants.
Listing description from the September 2024 sale, as reported to CRMLS.
Sale history