Solid 4-plex with 11.6 GRM. Large 4 BR/2Bth floor-plans allow high density occupancy. Rents are reflective of this property's unique value proposition offering sleeping quarters that favorably compare with the dorms at UCSC, with each bedroom enjoying direct access to a Jack and Jill bathroom instead of dorm restrooms down the hall. Students love the location walking distance to downtown with convenient access to bus transportation to the University. Strong track record of premium rents and reliable low turnover schedule with minimal vacancy. With dorm costs continuing to escalate in the face of planned expansion of student population with limited addition of on-campus housing, this property is ideally positioned to insulate its owners against possible effects of rent control! Durable upgrades throughout including new roof, stainless appliances, granite counters and laminate floors. Owner invested over $350K rehab costs to make this the ideal low-maintenance, high cash-flow property.
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