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704-718 Broadway 704 Broadway 9 Unit Apartment Building $4,965,168 CAD ($551,685 CAD/Unit) 5.51% Cap Rate Santa Cruz, CA 95062
Investment Highlights
- RARE 9-UNIT, SINGLE-STORY PROPERTY On a 19,210 SF lot
- MAJOR CAPITAL UPGRADES COMPLETED - $700K + Roof, plumbing, electrical, windows, etc
- STRONG PARKING 9 open spaces + 8 private garages
- $24,500 PER MONTH RENT ROLL (MAY 2026) Based on current rents with upside potential
- 7 OUT OF THE 9 UNITS ARE GUT RENOVATED WITH PERMITS Including plumbing, electrical, flooring, bathrooms, kitchens
- PRIME MIDTOWN SANTA CRUZ LOCATION Near Downtown and retail
Executive Summary
Please email jcastellanos@marcusmillichap.com for OM and Due Diligence.
Jimmy Castellanos is excited to present 704-718 Broadway in Santa Cruz, CA. This unique 9-unit apartment property is situated on an expansive 19,210 square foot lot in the heart of Santa Cruz, offering close proximity to Downtown Santa Cruz, the beach area, and major commuter corridors. The property consists of four duplexes and one single-family home, all single-story, which is a rare find for the area and highly attractive to tenants. All nine units feature one-bedroom floor plans, with seven of the nine units fully renovated (new bathrooms, kitchens, electrical, plumbing), contributing to strong tenant demand and ease of leasing. The property is well-positioned near popular retail and lifestyle amenities along Soquel Avenue, Ocean Street, and Downtown Pacific Avenue, providing convenient access to shopping, dining, coffee shops, and daily necessities.
Jimmy Castellanos is excited to present 704-718 Broadway in Santa Cruz, CA. This unique 9-unit apartment property is situated on an expansive 19,210 square foot lot in the heart of Santa Cruz, offering close proximity to Downtown Santa Cruz, the beach area, and major commuter corridors. The property consists of four duplexes and one single-family home, all single-story, which is a rare find for the area and highly attractive to tenants. All nine units feature one-bedroom floor plans, with seven of the nine units fully renovated (new bathrooms, kitchens, electrical, plumbing), contributing to strong tenant demand and ease of leasing. The property is well-positioned near popular retail and lifestyle amenities along Soquel Avenue, Ocean Street, and Downtown Pacific Avenue, providing convenient access to shopping, dining, coffee shops, and daily necessities.
Property Facts
| Price | $4,965,168 CAD | Building Class | C |
| Price Per Unit | $551,685 CAD | Lot Size | 0.45 AC |
| Sale Type | Investment | Building Size | 5,213 SF |
| Cap Rate | 5.51% | Average Occupancy | 89% |
| Gross Rent Multiplier | 12.41 | No. Stories | 1 |
| No. Units | 9 | Year Built | 1939 |
| Property Type | Multifamily | Parking Ratio | 1.73/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | R-L Multiple Residence - Low Density Residential | ||
| Price | $4,965,168 CAD |
| Price Per Unit | $551,685 CAD |
| Sale Type | Investment |
| Cap Rate | 5.51% |
| Gross Rent Multiplier | 12.41 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.45 AC |
| Building Size | 5,213 SF |
| Average Occupancy | 89% |
| No. Stories | 1 |
| Year Built | 1939 |
| Parking Ratio | 1.73/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-L Multiple Residence - Low Density Residential |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | $3,877 CAD | 550 - 600 |
1 1
Walk Score®
Walker's Paradise (91)
Bike Score®
Biker's Paradise (96)
Property Taxes
| Parcel Number | 010-111-14-000 | Improvements Assessment | $1,251,586 CAD |
| Land Assessment | $2,208,681 CAD | Total Assessment | $3,460,266 CAD |
Property Taxes
Parcel Number
010-111-14-000
Land Assessment
$2,208,681 CAD
Improvements Assessment
$1,251,586 CAD
Total Assessment
$3,460,266 CAD
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704-718 Broadway | 704 Broadway
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