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Gularte Building 1114-1116 Pacific Ave 24 Unit Apartment Building $7,995,000 ($333,125/Unit) 5.72% Cap Rate Santa Cruz, CA 95060
Investment Highlights
- Desirable Downtown Santa Cruz location.
- 24 upstairs, high demand, studio apartments
- Ground floor leased to well established tenant.
Executive Summary
Mixed use investment opportunity in Downtown Santa Cruz. Four-story building featuring ground floor retail/restaurant leased to well established Tenant (Pizza My Heart)and 24 studio apartments situated on the upper floors. Completely rebuilt after the 1989 earthquake in 1993, this property offers a good revenue stream with upside on the existing rents.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $7,995,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $333,125 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 5.72% | Building Size | 23,247 SF |
| No. Units | 24 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1993 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | CBD - Central Business District zoning. | ||
| Price | $7,995,000 |
| Price Per Unit | $333,125 |
| Sale Type | Investment |
| Cap Rate | 5.72% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 23,247 SF |
| No. Stories | 4 |
| Year Built | 1993 |
| Opportunity Zone |
Yes |
| Zoning | CBD - Central Business District zoning. |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- On-Site Retail
- Package Service
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 24 | - | - |
1 1
Walk Score®
Walker's Paradise (99)
Bike Score®
Biker's Paradise (99)
Property Taxes
| Parcel Number | 005-153-22-000 | Total Assessment | $967,002 (2025) |
| Land Assessment | $159,372 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $807,630 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
005-153-22-000
Land Assessment
$159,372 (2025)
Improvements Assessment
$807,630 (2025)
Total Assessment
$967,002 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Gularte Building | 1114-1116 Pacific Ave
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