Description
5.03% CAP RATE ON CURRENT INCOME + UPSIDE IN RENT POTENTIAL. The Soquel Village Apartments offers investors a truly unique investment opportunity. The property has had an extensive remodel of both the interiors and exterior. The new exterior includes the following scope: new stucco siding, paint, laundry room, main electrical panels, dual pane windows, landscaping, fencing, asphalt, etc. The new interiors of 18 units include the following scope: washer/dryer in-unit (15 units), vinyl plank flooring, paint, baseboards, shaker white cabinets with quartz countertops and subway tile backsplash, stainless steel appliances, etc. There remains considerable upside in 3 ways: 1) continuing the renovation of units to achieve market rents 2) adding 1-2 detached ADUs (buyer to confirm) 3) redevelop the property utilizing the high-density zoning. The location is incredible, located in the heart of Soquel Village, near schools, shopping, restaurants and other amenities.
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
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11,151SQFT
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$690$/SQFT
School Ratings & Info
Description
5.03% CAP RATE ON CURRENT INCOME + UPSIDE IN RENT POTENTIAL. The Soquel Village Apartments offers investors a truly unique investment opportunity. The property has had an extensive remodel of both the interiors and exterior. The new exterior includes the following scope: new stucco siding, paint, laundry room, main electrical panels, dual pane windows, landscaping, fencing, asphalt, etc. The new interiors of 18 units include the following scope: washer/dryer in-unit (15 units), vinyl plank flooring, paint, baseboards, shaker white cabinets with quartz countertops and subway tile backsplash, stainless steel appliances, etc. There remains considerable upside in 3 ways: 1) continuing the renovation of units to achieve market rents 2) adding 1-2 detached ADUs (buyer to confirm) 3) redevelop the property utilizing the high-density zoning. The location is incredible, located in the heart of Soquel Village, near schools, shopping, restaurants and other amenities.
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Listing provided courtesy of Alex Budka of Atlantis Properties.