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Blue Bell Apartments 120 Trinity St 11 Unit Apartment Building $3,300,000 ($300,000/Unit) 6.31% Cap Rate Santa Cruz, CA 95060
INVESTMENT HIGHLIGHTS
- This property rents quickly and is fully occupied
EXECUTIVE SUMMARY
11 Unit Garden Style apartment building in beautiful Beach Hill area of coastal Santa Cruz. First time on the market in 18 years, family owned and managed. Built in 1939, this complex features 8 one bedroom apartments and 3 studios, with a center garden courtyard. Located just 0.1 miles from the Santa Cruz Beach Boardwalk, Santa Cruz Wharf and renowned Cowells Beach surf spot- this is a gem. Coin-op laundry on-site. Great upside potential with the new downtown Santa Cruz renovation and redevelopment projects underway.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$280,944
|
$53.78
|
| Other Income |
$1,800
|
$0.34
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$282,744
|
$54.12
|
| Taxes |
$23,803
|
$4.56
|
| Operating Expenses |
$47,572
|
$9.11
|
| Total Expenses |
$71,375
|
$13.66
|
| Net Operating Income |
$211,369
|
$40.46
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $280,944 |
| Annual Per SF | $53.78 |
| Other Income | |
|---|---|
| Annual | $1,800 |
| Annual Per SF | $0.34 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $282,744 |
| Annual Per SF | $54.12 |
| Taxes | |
|---|---|
| Annual | $23,803 |
| Annual Per SF | $4.56 |
| Operating Expenses | |
|---|---|
| Annual | $47,572 |
| Annual Per SF | $9.11 |
| Total Expenses | |
|---|---|
| Annual | $71,375 |
| Annual Per SF | $13.66 |
| Net Operating Income | |
|---|---|
| Annual | $211,369 |
| Annual Per SF | $40.46 |
PROPERTY FACTS In Escrow
| Price | $3,300,000 | Building Class | C |
| Price Per Unit | $300,000 | Lot Size | 0.27 AC |
| Sale Type | Investment | Building Size | 5,224 SF |
| Cap Rate | 6.31% | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.74 | No. Stories | 1 |
| No. Units | 11 | Year Built | 1939 |
| Property Type | Multifamily | Parking Ratio | 0.77/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RTB - RTB Zoning (Tourist, Residential, Motel) with Coastal Zone Overlay | ||
| Price | $3,300,000 |
| Price Per Unit | $300,000 |
| Sale Type | Investment |
| Cap Rate | 6.31% |
| Gross Rent Multiplier | 11.74 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 5,224 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1939 |
| Parking Ratio | 0.77/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RTB - RTB Zoning (Tourist, Residential, Motel) with Coastal Zone Overlay |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Garden
- Lawn
- Pantry
- Patio
- Vinyl Flooring
- Window Coverings
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 3 | - | - |
| 1+1 | 8 | - | - |
1 1
Walk Score®
Walker's Paradise (92)
Bike Score®
Biker's Paradise (99)
PROPERTY TAXES
| Parcel Number | 007-102-16-000 | Total Assessment | $2,139,649 |
| Land Assessment | $1,339,793 | Annual Taxes | $23,803 ($4.56/SF) |
| Improvements Assessment | $799,856 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
007-102-16-000
Land Assessment
$1,339,793
Improvements Assessment
$799,856
Total Assessment
$2,139,649
Annual Taxes
$23,803 ($4.56/SF)
Tax Year
2025
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Blue Bell Apartments | 120 Trinity St
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