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234 High St 10 Unit Apartment Building $4,453,440 CAD ($445,344 CAD/Unit) 5.29% Cap Rate Santa Cruz, CA 95060
Investment Highlights
- 10 Unit Multifamily Property in Santa Cruz
- Strong In-Place Income with Rental Upside
- Close to UC Santa Cruz, Beaches, and Shopping
- Excellent Westside Santa Cruz Location Near Downtown
- Unit Mix: 8 One-Bedroom Units, 1 Studio, 1 Two-Bedroom
- Opportunity for Value-Add Through Rent Increases
Executive Summary
10-unit multifamily investment opportunity located at 234 High Street in Santa Cruz, California. The property is offered at $3,200,000 and consists of a mix of studio, one-bedroom, and two-bedroom units. The property is currently fully occupied and offers significant upside potential through rental increases to market rents. Located in Westside Santa Cruz near Downtown Santa Cruz, UC Santa Cruz, and major retail centers. This offering provides investors the opportunity to acquire a well-located multifamily asset in a high-demand rental market with strong long-term appreciation potential.
Property Facts
| Price | $4,453,440 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $445,344 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.48 AC |
| Cap Rate | 5.29% | Building Size | 6,338 SF |
| Gross Rent Multiplier | 12.7 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1944 |
| Property Subtype | Apartment | Parking Ratio | 1.1/1,000 SF |
| Zoning | RM - Residential Multifamily zoning allowing low-rise apartment development. Property currently improved with a 10-unit multifamily apartment community. | ||
| Price | $4,453,440 CAD |
| Price Per Unit | $445,344 CAD |
| Sale Type | Investment |
| Cap Rate | 5.29% |
| Gross Rent Multiplier | 12.7 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 6,338 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1944 |
| Parking Ratio | 1.1/1,000 SF |
| Zoning | RM - Residential Multifamily zoning allowing low-rise apartment development. Property currently improved with a 10-unit multifamily apartment community. |
Amenities
Unit Amenities
- Refrigerator
- Oven
- Window Coverings
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 318 |
| 1+1 | 8 | - | 600 - 700 |
| 2+1 | 1 | - | 864 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 001-111-07-000 | Improvements Assessment | $1,014,925 CAD |
| Land Assessment | $894,735 CAD | Total Assessment | $1,909,660 CAD |
Property Taxes
Parcel Number
001-111-07-000
Land Assessment
$894,735 CAD
Improvements Assessment
$1,014,925 CAD
Total Assessment
$1,909,660 CAD
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234 High St
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