santa cruz waterfront opportunity...environemtn, world class the nearest airport is in san jose, 30...

SANTA CRUZ WATERFRONT OPPORTUNITY

807 E. Cliff Dr. | Santa Cruz, CA 95060

FOR SALE | $829,000 $749,000

James Kendall | DRE #02010395

PRICE REDUCTION!

PROPERTY LOCATION

807 E. CLIFF DR. SANTA CRUZ

OFFERING MEMORANDUM

JAMES KENDALL

Sales Associate | DRE #02010395

[email protected]

831.646.1919 ext. 112

MAHONEY & ASSOCIATES

501 Abrego St | Monterey, CA

www.mahoneycommercial.com

831.646.1919

TABLE OF CONTENTS

Executive Summary 3

Property Details 4

Location Overview 5

Aerial 6

Property Photos 7

Proposed Plans 11

Satellite Map 13

Site Plan 14

Mahoney & Associates 15

Disclaimer 16

PRESENTED BY

INVESTMENT OVERVIEW

Mahoney & Associates is pleased to present the exclusive offering to purchase the fee simple interest in a superbly located residential income property with an attached bonus unit at 807 E. Cliff Drive in Santa Cruz, California. Escape the city and enjoy coastal living with this admirably located fixer bungalow a stone’s throw from the Pacific Ocean and Santa Cruz Beach Boardwalk. This property is situated in a highly walkable area near Shoppers Corner, The Buttery, Whole Foods and more. Seabright Beach and the Santa Cruz Yacht Harbor are within easy walking or biking distance.

Currently rented as a two unit property, the front unit is month to month while the bonus unit in rear is available. The Buyer could possibly continue to operate as a residential income property or convert the site into a beachfront dream home. The bonus unit is considered a conversion ADU by the City and may continue to qualify as such with some modification. Buyer to verify status and condition with City and offers subject to inspection and review of Disclosures.

There are two units, with current/projected rents at $2,200/month for the front unit and $2,000 for the rear. The Seller has provided plans for the construction of a new two-story, 2,157 sq. ft. single-family residence with an attached one-car garage. The Main house has three rooms previously used as bedrooms, two of which do not have closets, along with two bathrooms, a living room, a kitchen, and a side yard.

The Seller hired Swift Consulting Services to evaluate the unit’s status and concluded that “the breezeway that connected the house to the garage was “filled in” and incorporated into the garage unit conversion. This area may be over 150 sq. ft. and may need to be reduced in size so as to not exceed the 150 sq. ft. threshold” of new construction allowed by the City for an expansion area. The lot provides off-street parking for up to three cars.

All information utilized herein was provided by the sources deemed reliable. Buyer to conduct its own investigations and due diligence of the property and relevant materials.

PROPERTY DETAILS

Address 807 E. Cliff Dr. Santa Cruz, CA 95060

Asking Price $749,000

Price Per Foot $596

*Cap Rate 4.14%

APN 010-164-16

Building Size +/- 1,256 SF

Lot Size +/- 3,210 SF

ImprovementsWood-framed construction, composition shingle roof

Zoning RL - Multiple Residence Low Rise

Year Built 1908

*See Financials

Investment Highlights:

• Amazing waterfront location• Flexible investment: residential income or rehab• Minutes from the Boardwalk, Wharf, Downtown, bike path• Extremely high barriers to entry for new development• Strong rental demand and rental upside

807 E. Cliff Dr. | 3

PROPERTY INFORMATION

ESTIMATED PROJECTED INCOME & EXPENSES

Gross Scheduled Rents $50,400

Vacancy 3% $1,512

Adjusted Gross Income $48,888

Est. Annual Prop Tax $8,614

Insurance $2,145

Management Fee 6% $3,024

Utilities $3,282

Est. Repairs/Maintenace $850

Expenses Total $17,915

Net Income $30,974

Unit Utilities: Landlord pays water, garbage, PG&E

UNIT EXP. DATE APPROX SQ/FT UNIT TYPE CURRENT MO. RENT ANNUAL RENT RENT START

A M-M +/- 892 2 Bed / 2 Bath $2,200.00 $26,400.00 6/21/20

B Vacant +/- 364 1 Bed/ 1 Bath $2,000.00 $24,000.00 1/19/20

TOTAL $4,200.00 $50,400


CITY OF SANTA CRUZ

Santa Cruz County is located on California’s Central Coast, 65 miles south of San Francisco and 35 miles north of Monterey. Situated on the northern

side of Monterey Bay and hugged by redwood forested mountains, Santa Cruz County has 29 miles of beaches and an extraordinary number of state

parks and beaches – 14 in all – and each offers a unique experience for visitors. Santa Cruz is known at Surf City, USA, and the is home to one of

the last few beachside boadwalks on the West Coast, the Santa Cruz Beach Boardwalk. The City’s natural beauty and historic sites make it a quality

residential community and premier tourist destination. A small, livable city that prides itself on being a clean and safe place to live, Santa Cruz is

known for it’s sense of community and hostiptality and it’s culturally diverse residents. The century-old Santa Cruz Wharf is the longest wooden

structure of its kind on the West Coast—a staggering 2,701 feet/823 meters long. Walk to the end to get a bird’s-eye view of Steamer Lane surfers

to the north, or come at dusk to watch the lights glow on the colorfully lit Santa Cruz Beach Boardwalk. Along the waterfront, you can rent kayaks,

standup paddleboards, or motorboats. Stroll past the fresh fish restaurants and souvenir shops and strike up a conversation with fishermen angling

for perch, rockfish, and lingcod.

Santa Cruz the City and County are one the Central California’s most protected areas and poses major barries to entry for new development due to

water constraints and a very strigent California Coast Commission. The area is highly regarded for high quality of living due to is naturally preserved

environemtn, world class The nearest airport is in San Jose, 30 miles northeast of Santa Cruz. With a mild climate, summer temperatures usually

top out in the mid-70s and winter temperatures in the mid-50s. The sun shines 300 days a year and the humidity is low for a coastal city, making it

a highly desirable place to live.


AERIAL MAP


PROPERTY LOCATIONPROPERTY LOCATION

UNIT 1

UNIT 2

PROPOSED PLANS

DISCLAIMER

A2

THE DATA SET FORTH ON THIS SHEET ISTHE PROPERTY OF WILLIAM C. KEMPF,ARCHITECT. IT IS AN INSTRUMENT OFSERVICE AND MAY NOT BE ALTERED,

REPRODUCED, OR USED WITHOUT THECONSENT OF THE ARCHITECT. THE PROPER

ELECTRONIC TRANSFER OF DATA SHALLBE THE USER'S RESPONSIBILITY WITHOUT

LIABILITY TO THE ARCHITECT.UNAUTHORIZED USE IS PROHIBITED.

STAMP

SHEET

REVISIONS

DESCRIPTIONNo. DATE

[email protected]

Santa Cruz, CA 95060

WILLIAM C. KEMPF

831 459-0951

911 Center Street, Suite FARCHITECT

807

EAST

CLI

FF D

RIV

E, S

AN

TA C

RU

Z, C

ALI

FOR

NIA

THE

DIC

K F

AM

ILY

PRO

POSE

D F

LOO

R P

LAN

S

CLIENT NAME:

PROJECT NAME:

DRAWING DATE:

CONSTRUCTION RELEASE:

JULY 1, 2015

STEVEN & CHRISTINA DICK

EAST CLIFF DRIVE

NEW

RES

IDEN

CE

FOR

:

SCALE: 1/4"=1'-0"

FIRST FLOOR1SCALE: 1/4"=1'-0"

SECOND FLOOR2

WA

SHD

RY

20'-0"24'-6"2'-6"5'-0"

SIDE SETBACK

10'-

0" R

EAR

SET

BA

CK

6'-0" EASEMENT6'-0" EASEMENT3'-0"5'-0"

11'-

6"29

'-0"

4'-0

"

BATH 1KITCHEN

UP

17 R

BALCONY

DO

WN

17

R

CAB

CAB.

POST ABOVE

FRIDGE

LIN

EN

BEDROOM 111'8 x 11'5

BEDROOM 211'8 x 11'9

GARAGE23'10 x 10'5

GREAT ROOM22'0 x 13'6

LIVING ROOM23'10 x 12'4

MASTER BEDROOM14'0 x 11'2

RO

OF

BEL

OW

PRO

PER

TY L

INE

&C

ENTE

RLI

NE

OF

EASE

MEN

T

15'-0

" FRO

NT

SETB

AC

K10

'-0"

FRONT YARD MAY BE REDUCEDTO NOT LESS THAN TEN FEETFOR A PORTION NOT TOEXCEED 50% OF THE BUILDINGFRONTAGE. 33% OF THEREDUCED FRONT YARDSETBACK IS COVERED BY THEBUILDING.

WALLS ABOVE

24'-6"

32'-

0"8'

-6"

AREA CALCULATIONLOT AREA 3,210 S.F.

MAXIMUM LOT COVERAGE FOR SUB STANDARD LOT (45%) 1,445 S.F.

PROPOSED AREA OF LOT COVERAGE 1,445 S.F.

PROPOSED FIRST FLOOR AREA 1,445 S.F.

MAXIMUM SECOND FLOOR AREA FOR SUB STANDARD LOT(50% OF FIRST FLOOR AREA) 722 S.F.

PROPOSED SECOND FLOOR AREA 712 S.F.

4'2 x 3'7

4'0 x 5'0

TUB 3'0 x 6'0

4'-3

"

FRONT PORCH

WALLS BELOW

N O R T H

OVERHANG BELOW

OVERHANG BELOW

OV

ERH

AN

G B

ELO

WO

VER

HA

NG

BEL

OW

OV

ERH

AN

G B

ELO

W

OVERHANG BELOW

OVERHANG BELOW

A53

A51

4A5

A52

20'-

01 2"

4A5

A53

A51

A52

807 E. Cliff Dr. | 11

PROPOSED PLANS

DISCLAIMER

A4

THE DATA SET FORTH ON THIS SHEET ISTHE PROPERTY OF WILLIAM C. KEMPF,ARCHITECT. IT IS AN INSTRUMENT OFSERVICE AND MAY NOT BE ALTERED,

REPRODUCED, OR USED WITHOUT THECONSENT OF THE ARCHITECT. THE PROPER

ELECTRONIC TRANSFER OF DATA SHALLBE THE USER'S RESPONSIBILITY WITHOUT

LIABILITY TO THE ARCHITECT.UNAUTHORIZED USE IS PROHIBITED.

STAMP

SHEET

REVISIONS

DESCRIPTIONNo. DATE

[email protected]

Santa Cruz, CA 95060

WILLIAM C. KEMPF

831 459-0951

911 Center Street, Suite FARCHITECT

807

EAST

CLI

FF D

RIV

E, S

AN

TA C

RU

Z, C

ALI

FOR

NIA

THE

DIC

K F

AM

ILY

PRO

POSE

D E

LEV

ATI

ON

S

CLIENT NAME:

PROJECT NAME:

DRAWING DATE:

CONSTRUCTION RELEASE:

JULY 1, 2015

STEVEN & CHRISTINA DICK

EAST CLIFF DRIVE

NEW

RES

IDEN

CE

FOR

:

3'

1'

5'-0"

SCALE: 1/4"=1'-0"

SOUTH ELEVATION1

SCALE: 1/4"=1'-0"

NORTH ELEVATION3

SCALE: 1/4"=1'-0"

EAST ELEVATION2

SCALE: 1/4"=1'-0"

WEST ELEVATION4

STANDING SEAM ROOFING

BOARD AND BATTEN FIBERCEMENT SIDING

HORIZONTAIL FIBER CEMENTSIDING

STANDING SEAM AWNINGS

STANDING SEAM ROOFING

BOARD AND BATTEN FIBERCEMENT SIDING

HORIZONTAIL FIBER CEMENTSIDING

STANDING SEAM AWNINGS

±25

'-51 4"

±25

'-51 4"

807 E. Cliff Dr. | 12

PROPERTY LOCATION

MONTEREYMONTEREY

CARMEL-BY-THE-SEACARMEL-BY-THE-SEA

CAPITOLACAPITOLA

PACIFIC GROVEPACIFIC GROVE

SALINASSALINAS

MOSS LANDINGMOSS LANDING

SEASIDESEASIDE

MARINAMARINA

SANTA CRUZSANTA CRUZ

APTOSAPTOS

WATSONVILLEWATSONVILLE

CASTROVILLECASTROVILLE

SATELLITE MAP

807 E. Cliff Dr. | 13

SITE PLAN

Tax Map 807 E Cliff Dr, Santa Cruz, CA 95060

Tax Map 807 E Cliff Dr, Santa Cruz, CA 95060 9/9/2020 Page 1 (of 1)

This report is only for the myFirstAm user who applied for it. No one else can rely on it. As a myFirstAm user, you already agreed to our disclaimer regarding third party propertyinformation accuracy. You can view it here: www.myfirstam.com/Security/ShowEULA. ©2005-2020 First American Financial Corporation and/or its affiliates. All rights reserved.

807 E. Cliff Dr. | 14

$3 BILLIONIN TRANSACTION VOLUME

1,000+ASSETS SOLD

1,750+LEASE TRANSACTIONS

6,000,000SQUARE FEET LEASED

SOLD PROPERTY HIGHLIGHTS

40+ Years of Commercial Real Estate Represented

UNEQUALED COMMITMENT TO OUR CLIENTS’ NEEDS AND SATISFACTION…

MAHONEY & ASSOCIATES WORKS TIRELESSLY ON MAXIMIZING REAL ESTATE

VALUES.

With our Collaborative Team of Real Estate Professionals and Consultants, Mahoney

& Associates works to maximize your property’s potential, whether for selling, leasing

or trading. In everything we do, there is just one driving principle: client satisfaction.

For over 40 years, Mahoney & Associates has been known as a local and regional

trusted industry leader, founded by John Mahoney. Our clients span every industry,

so we serve them with broad, creative and diverse expertise and a market knowledge

that touches every facet of commercial real estate, from raw land development to

sophisticated 1031 Single-and Multi-Tenant Net Leased exchanges in other states. In

every transaction we enter, beyond the beams and masonry or ROI, one mission

alone drives us all and that is representing your interests as if they were our own.

It will be our pleasure and duty to sit with you and listen…so we can understand your

motivation, background, needs, challenges and goals in discussing potential solutions

for your properties. We have learned that one solution does not fit all situations

and look forward to working with you to develop a strategy that encompasses all

stakeholders’ interests. Nothing is more satisfying than driving by a property with

which we have partnered with owners, knowing there is now a new business, a

greater stream of income, a legacy honoring a family member, a community treasure

restored…the list is endless in how we work with our valued clients to enrich their lives

and the community in which their property sits.


807 E. Cliff Dr. | 15

DISCLAIMER

JAMES KENDALL

Sales Associate | DRE #02010395

[email protected]

831.646.1919 ext. 112


501 Abrego St | Monterey, CA

www.mahoneycommercial.com

831.646.1919

EXCLUSIVELY LISTED BY:

Mahoney & Associates (M&A) hereby advises all prospective purchasers of property as follows:

All materials and information received or derived from M&A and its directors, officers, agents,

advisors, affiliates and/or any third party sources are provided without representation or

warranty as to completeness, veracity, or accuracy, condition of the property, compliance or

lack of compliance with applicable governmental requirements, developability or suitability,

financial performance of the property, projected financial performance of the property for

any party’s intended use or any and all other matters. Neither M&A and its directors, officers,

agents, advisors, or affiliates makes any representation or warranty, express or implied, as to

accuracy or completeness of the any materials or information provided, derived, or received.

Materials and information from any source, whether written or verbal, that may be furnished for

review are not a substitute for a party’s active conduct of its own due diligence to determine

these and other matters of significance to such party. M&A will not investigate or verify any

such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH

PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify

all information and to conduct their own inspections and investigations including through

appropriate third party independent professionals selected by such party. All financial data

should be verified by the party including by obtaining and reading applicable documents and

reports and consulting appropriate independent professionals. M&A makes no warranties and/

or representations regarding the veracity, completeness, or relevance of any financial data or

assumptions. M&A does not serve as a financial advisor to any party regarding any proposed

transaction. All data and assumptions regarding financial performance, including that used for

financial modeling purposes, may differ from actual data or performance. Any estimates of

market rents and/ or projected rents that may be provided to a party do not necessarily mean

that rents can be established at or increased to that level. Parties must evaluate any applicable

contractual and governmental limitations as well as market conditions, vacancy factors and

other issues in order to determine rents from or for the property. Legal questions should be

discussed by the party with an attorney. Tax questions should be discussed by the party with

a certified public accountant or tax attorney. Title questions should be discussed by the party

with a title officer or attorney. Questions regarding the condition of the property and whether

the property complies with applicable governmental requirements should be discussed by the

party with appropriate engineers, architects, contractors, other consultants and governmental

agencies. All properties and services are marketed by M&A and in compliance with all applicable

fair housing and equal opportunity laws.

santa cruz waterfront opportunity...environemtn, world class the nearest airport is in san jose, 30...

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