526540 Soquel Avenue, Santa Cruz, CA 95062
  • MLS#: ML81992548 ( )
  • Street Address: 526540 Soquel Avenue
  • Viewed: 11
  • Price: $5,900,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1938
  • Bldg sqft: 0
  • Days On Market: 83
  • Additional Information
  • County: SANTA CRUZ
  • City: Santa Cruz
  • Zipcode: 95062
  • Provided by: Main Street Realtors
  • Contact: Datta Datta
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    The Sullivan Building Complex at 526 540 Soquel Ave & 545 Ocean View Ave is a collection of mid century Medical, Personal Care and Professional Suites in 4 buildings spread out across three parcels on a prime corner convenient to The Buttery, Shoppers Corner and the other popular boutique shops and restaurants of Mid Town. The longtime owners have taken great pride in the property with updates and renovations made to many of the interior and exterior components of the buildings through the years, with over $420,000 in capital improvements added since 2020, including courtyard remodel for the Medical Arts Building, plus new windows, new plumbing, new flooring, new heat and new air for many of the suites in the complex. Located in an Opportunity Zone, with access to public transit, the assemblage is eligible for multi story mixed use development of high density residential over street level retail podium. This is an excellent opportunity for an investor seeking to maximize cap rate with upside potential in rents on some of the larger suites which are currently leased month to month, or for a developer with the benefit of existing carrier income during entitlement.
Property Location and Similar Properties
Request More Information
  • All fields are required.
Contact Patrick Adams
Contacting Patrick Adams
  • All fields are required.
Schedule A Showing
Schedule a Showing.
  • All fields are required.
Check this box to Register with us:
Features
Building Area Total
  1. 15185.00
Cooling
  1. None
Heating
  1. Forced Air
  2. Wall Furnace
Otherexpense
  1. 1800.00
Otherincome1
  1. 9300.00
Parcel Number
  1. 01005112000
Professionalmanagementexpense
  1. 0.00
Roof
  1. Tar/Gravel
  2. Other
Security Features
  1. Security Lights
Totalexpenses
  1. 107432.00
Trash Expense
  1. 0.00
Views
  1. 11
Water Source
  1. Public
Year Built
  1. 1938
Year Built Source
  1. Assessor
Zoning
  1. CC