Property Details
About this Property
The subject property provides a rare opportunity to acquire a value-add multifamily property with significant upside in rent potential. The property is in a prime location in the blocks from Downtown Watsonville and just one block off of Main Street. Light interior upgrades will afford investors the opportunity to capture significant increase in rental income and roughly a 8.23% pro forma cap rate. The property is in immaculate condition, with very limited deferred maintenance. Since the onset of the COVID-19 Pandemic, Santa Cruz County has been injected with mass migration from the Silicon Valleys remote workforce. In turn, countywide rents have skyrocketed 18.4%. As renters keep getting priced out of more expensive sub-markets in and around the City of Santa Cruz, demand continues pushing south to more affordable areas like Watsonville. This rental demand surge has pushed vacancy rates to 0.5%. Download the Offering Memorandum Here: https://www.redwoodpropertyco.com/207brennan
MLS Listing Information
MLS #
ML81895905
MLS Source
MLSListings, Inc.
Interior Features
Cooling
None
Heating
Wall Furnace
Exterior Features
Roof
Shingle
Foundation
Concrete Perimeter
Parking, School, and Other Information
Garage/Parking
Carport, Garage: 0 Car(s)
Elementary District
Pajaro Valley Unified
High School District
Pajaro Valley Unified
Sewer
Public Sewer
Water
Public
Zoning
RM3
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| – | – | 6 |
| Type | Sq Ft | Beds | Baths | Min Rent | Max Rent | Units Like This |
|---|---|---|---|---|---|---|
| 1 | – | 2 | 1/0 | $925 | $1,314 | 6 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
209 Brennan St is a Residential Income in Watsonville, CA 95076. This 4,522 square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at – and was built in 1964. This address can also be written as 209 Brennan St, Watsonville, CA 95076.
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This listing information is up-to-date as of June 27, 2024. For the most current information, please contact Nick Oliver, (831) 687-8720
