21661 East Cliff
13,688 Sqft - 21661 East Cliff Drive, Santa Cruz 95062
The Surf Apartments is a rare beach area apartment complex in Santa Cruz County. It is located in the highly desirable East Cliff/Sunny Cove area of unincorporated Santa Cruz County. The property was constructed in the 1930’s and 1940’s and has operated as both a short-term rental (motel) and a long-term rental (apartment) property. The property is just steps to the beach and near many amenities including Starbucks, restaurants, shopping, schools, public transit, and a weekly farmer’s market. The property is adjacent to million-dollar single family homes. It is zoned VA-Visitor Accommodating.
The Surf Apartments sits on a 27,770 sq. ft. parcel and currently operates as a 25-unit apartment complex with a mix of studio, one-bedroom, and two-bedroom units. A portion of the units have been rehabbed, including updated plumbing and electrical. There is the potential to rehab an additional six units that are currently unfinished and vacant, bringing to total unit count to 31. The additional units, and the below market rents, provide tremendous upside for a Buyer. There is also the opportunity for further upside by sub-metering the utilities.
This property has been in the same family for over 30 years and it promises to be a legacy property for the next owner as well. Seller-financing will be considered for qualified buyer and acceptable terms.
- Listing ID : 1032
- Size of Improvements : 13,688 Sqft