33913395 Mission Drive, Santa Cruz, California 95065, Santa Cruz, - bed, bath
ACTIVE$1,750,000
33913395 Mission Drive, Santa Cruz, California 95065
0Bed
0Bath
2,688Sqft
3,049Lot
Year Built
1978
Close
-
List price
$1.75M
Original List price
$1.75M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML82022306
Home ConditionPoor
Features
Deck
View-
About this home
Fabulous opportunity for 3 Townhouse-style units with front and back yards in a convenient mid-county location between the vibrant hubs of Santa Cruz and Capitola. Rents are under market so there is upside for financial growth. This is a prime investment in a high-demand rental market. Each unit is 2 story with 2 Br and 1.5 Baths, bedroom opening to deck and dining areas opening to rear yards. Nice section of Mission Dr in a pleasantly maintained complex with 2 other triplexes and a duplex on a large private parcel. Covered parking for each unit and common laundry facility on-site generates extra income. Adjacent triplex at 3397 Mission Drive will also be available for purchase.
Price History
Date
Event
Price
09/20/25
Listing
$1,750,000
Condition Rating
Poor
The property was built in 1978, making it 46 years old. While the exterior appears maintained, there are no interior photos of the units, especially kitchens and bathrooms. The common laundry facility shows older, utilitarian appliances and infrastructure, suggesting that the individual units likely have similarly dated interiors. Given the age and lack of evidence of recent major renovations, the kitchens, bathrooms, and other interior components are presumed to be significantly outdated and would require substantial repairs and rehabilitation to meet current standards and tenant expectations, aligning with the 'poor' condition criteria.
Pros & Cons
Pros
High Investment Potential: Positioned as a prime investment in a high-demand rental market with significant upside for financial growth due to current under-market rents.
Multi-Unit Income Stream: A triplex configuration provides three distinct townhouse-style units, ensuring diversified and stable rental income.
Strategic Mid-County Location: Conveniently located between the desirable hubs of Santa Cruz and Capitola, enhancing tenant appeal and property value.
Individual Unit Appeal: Each 2-story unit features 2 bedrooms, 1.5 baths, private front/back yards, and decks, offering attractive living spaces for tenants.
Valuable On-Site Amenities: Includes covered parking for each unit and a common laundry facility, adding convenience for tenants and generating additional income.
Cons
Current Under-Market Rents: While an opportunity for growth, the immediate income generation is below market potential, requiring proactive rent adjustments.
Property Age (1978 Construction): Built in 1978, the property may require updates to systems, appliances, or aesthetics to maximize rental income and minimize future maintenance costs.
Limited Lot Size: The total lot size of 3049 sqft for three units suggests relatively compact outdoor spaces per unit, which might not appeal to all prospective tenants seeking larger private yards.