236 Locust Street
Santa Cruz County 6.27% cap rate for $1,195,000
Marketing description
Lowest priced 5-unit complex in Santa Cruz County. Great opportunity for investors looking for revenue & financial returns vs great neighborhoods. $109,000 in Scheduled Gross Income delivers profitable returns - 10.07 GRM and 6.27% cap rate on current rents at full price. Rents have not been increased in several years. All units were remodeled after purchase in 2017. The complex has 4 one-bedroom units and a studio. New roofs for all buildings are pending in the spring of 2026. All asphalt was redone in 2023. Future capital improvement costs are minimal for several years. The complex is close to downtown Watsonville and Highway One.
Investment highlights
6.27% cap rate
Cheapest 5+ unit complex in Santa Cruz County
New roofs 2026
New asphalt 2023
Remodeled in 2017
Vinyl windows
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