Sold:
$4,340,000 | CAP Rate 4.89%
Investment Overview
The 46th Ave Apartments offer a rare opportunity to purchase a trophy-asset in a supply constrained market, located just blocks away from Capitola Village, world-renowned surf destinations, shopping, and high-end dining. Favorable parking ratio of 2:1. The property has undergone a significant exterior renovation, consisting of new paint, new main electrical panel, new fascia, new cedar wood siding, new slurry seal, and new landscaping. The roof was replaced in 2003 and is in good condition. All windows are dual pane. Every unit has been fully remodeled: new shaker kitchen cabinets, quartz countertops, stainless steel appliances, washer/dryer in every unit, subway tile backsplashes, vinyl plank flooring throughout, new electrical sub-panels and outlets, updated bathrooms, new baseboards, new fixtures and lighting. Further upside can be realized by converting laundry and storage rooms to another unit in accordance with new statewide ADU law- buyer to verify.
Showing Schedule
*By Appointment Only
Managing Director
Alex Budka
D: 831-275-5370
E: abudka@atlantisproperties.net
DRE#01913403
Managing Director
Joe Budka
D: 831-275-5370
E: jbudka@atlantisproperties.net
DRE#01913402
Property Highlights
Fully Stabilized, Turn-Key Apartment Building
Extensively Remodeled Interior and Exterior
All 10 Units Remodeled
9 of 10 Unit Include Washer/Dryers
Updated Laundry Room and Machines
Rare, Capitola Location
Walking Distance to 41st Ave, Santa Cruz County’s Busiest Corridor
1 of 33 Apartment Buildings in the City of Capitola
