Log In/Sign Up
Your email has been sent.
328 Ocean St 13 Unit Apartment Building $4,159,320 CAD ($319,948 CAD/Unit) 6% Cap Rate Santa Cruz, CA 95060
INVESTMENT HIGHLIGHTS
- Main Street leading to the Santa Cruz Beach Boardwalk & beaches
- High daily traffic count
- Enjoys 100% occupancy easily
- Ocean St. turns into the direct route to Highway 17 North and California Highway 1 South
- Walking distance to downtown, restaurants & services
EXECUTIVE SUMMARY
Currently at 6% cap rate, 100% occupied for the last 25 years. Excellent rental and income history with potential room for reasonable rent increases. The 13 apartments sit on two parcels Zoned R-M with over 13,808.52 sq. ft. with seventeen marked parking spaces. Located on a major bus line, close to Santa Cruz Beach Boardwalk, Municipal Wharf and the downtown village of Santa Cruz. One (1) mile to Highway 17 and CA Highway 1 (PCH). These two (2) parcels could possibly be redeveloped to increase height and number of units. Parcel one APN 010-551-29 is 7,797.24 sq. ft. Parcel two APN 010-551-30 is 6,011 sq. ft.
This neighborhood screams development and is going through a Renaissance period now. We have other listings in this neighborhood: 338 Ocean St. zoned R-L a Victorian duplex on 17,076 sq. ft. lot. 433 Ocean St. Commercial corner lot, 80 rooms Hotel Solares, Santa Cruz , 319 Jessie St. zoned R-L * call Paul
This neighborhood screams development and is going through a Renaissance period now. We have other listings in this neighborhood: 338 Ocean St. zoned R-L a Victorian duplex on 17,076 sq. ft. lot. 433 Ocean St. Commercial corner lot, 80 rooms Hotel Solares, Santa Cruz , 319 Jessie St. zoned R-L * call Paul
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$371,660
|
$61.46
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$371,660
|
$61.46
|
| Taxes |
$11,922
|
$1.97
|
| Operating Expenses |
$108,336
|
$17.92
|
| Total Expenses |
$120,258
|
$19.89
|
| Net Operating Income |
$251,402
|
$41.57
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $371,660 |
| Annual Per SF | $61.46 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $371,660 |
| Annual Per SF | $61.46 |
| Taxes (CAD) | |
|---|---|
| Annual | $11,922 |
| Annual Per SF | $1.97 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $108,336 |
| Annual Per SF | $17.92 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $120,258 |
| Annual Per SF | $19.89 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $251,402 |
| Annual Per SF | $41.57 |
PROPERTY FACTS
| Price | $4,159,320 CAD | Building Class | C |
| Price Per Unit | $319,948 CAD | Lot Size | 0.32 AC |
| Sale Type | Investment | Building Size | 6,047 SF |
| Cap Rate | 6% | Average Occupancy | 100% |
| No. Units | 13 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1977 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RM - RM Multiple Residence, allowing for various multi-family housing types like duplexes, apartments, and dwelling groups, designed for denser projects | ||
| Price | $4,159,320 CAD |
| Price Per Unit | $319,948 CAD |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 6,047 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1977 |
| Opportunity Zone |
Yes |
| Zoning | RM - RM Multiple Residence, allowing for various multi-family housing types like duplexes, apartments, and dwelling groups, designed for denser projects |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | - | - |
| 1+1 | 4 | - | - |
| 2+1 | 3 | - | - |
Walk Score®
Very Walkable (89)
Bike Score®
Biker's Paradise (99)
1 of 11
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
328 Ocean St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.