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includes 319 Jessie St. 328 Ocean St 14 Unit Apartment Building $4,546,912 CAD ($324,779 CAD/Unit) 5.61% 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 last 25 years
- Ocean St. turns into the direct route to Highway 17 North and California Highway 1 South
- Walking distance to downtown, restaurants & services
Executive Summary
13 apartment units and 1 single family 2 bed, 2 bath residence both 100% occupied for the last 25 years. Excellent rental and income history. The 13 apartments sit on two parcels favorably Zoned R-M with over 13,808.52 sq. ft; with seventeen parking spaces. The single family home zoned R-L is behind and c contiguous with space to potentially add another unit. Located on major transportation corridor/bus line. Walk 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 be developed to increase height and number of units according to city planning department. Parcel one APN 010-551-29 is 7,797.24 sq. ft. Parcel two APN 010-551-30 is 6,011 sq. ft.
"Lower Ocean"neighborhood has and is going through a development renaissance, increasing property values. 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 - * call Paul
"Lower Ocean"neighborhood has and is going through a development renaissance, increasing property values. 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 - * call Paul
Data Room Click Here to Access
- Operating and Financials
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$464,166
|
$68.01
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$464,166
|
$68.01
|
| Taxes |
$54,165
|
$7.94
|
| Operating Expenses |
$111,030
|
$16.27
|
| Total Expenses |
$165,195
|
$24.20
|
| Net Operating Income |
$298,971
|
$43.81
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $464,166 |
| Annual Per SF | $68.01 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $464,166 |
| Annual Per SF | $68.01 |
| Taxes (CAD) | |
|---|---|
| Annual | $54,165 |
| Annual Per SF | $7.94 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $111,030 |
| Annual Per SF | $16.27 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $165,195 |
| Annual Per SF | $24.20 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $298,971 |
| Annual Per SF | $43.81 |
Property Facts
| Price | $4,546,912 CAD | Building Class | C |
| Price Per Unit | $324,779 CAD | Lot Size | 0.43 AC |
| Sale Type | Investment | Building Size | 8,300 SF |
| Cap Rate | 5.61% | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1977 |
| Property Subtype | Apartment | Parking Ratio | 2.05/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | RM - 328 Ocean St. zoned RM Multiple Residence, multi-family housing 319 Jessi4 | ||
| Price | $4,546,912 CAD |
| Price Per Unit | $324,779 CAD |
| Sale Type | Investment |
| Cap Rate | 5.61% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 8,300 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1977 |
| Parking Ratio | 2.05/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM - 328 Ocean St. zoned RM Multiple Residence, multi-family housing 319 Jessi4 |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | - |
| 1+1 | 4 | - | - |
| 2+1 | 3 | - | - |
| 3+2 | 1 | $6,820 CAD | 1,475 |
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Numbers | Total Assessment | $1,878,714 CAD | |
| Land Assessment | $1,259,472 CAD | Annual Taxes | $54,165 CAD ($6.53 CAD/SF) |
| Improvements Assessment | $619,243 CAD | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$1,259,472 CAD
Improvements Assessment
$619,243 CAD
Total Assessment
$1,878,714 CAD
Annual Taxes
$54,165 CAD ($6.53 CAD/SF)
Tax Year
2025
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includes 319 Jessie St. | 328 Ocean St
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