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234 High St 10 Unit Apartment Building $3,200,000 ($320,000/Unit) 4.15% Cap Rate Santa Cruz, CA 95060
Investment Highlights
- 10 Unit Multifamily Property in Santa Cruz
- Strong In-Place Income with Rental Upside
- Close to UC Santa Cruz, Beaches, and Shopping
- Excellent Westside Santa Cruz Location Near Downtown
- Unit Mix: 8 One-Bedroom Units, 1 Studio, 1 Two-Bedroom
- Opportunity for Value-Add Through Rent Increases
Property Facts Under Contract
| Price | $3,200,000 | Apartment Style | Garden |
| Price Per Unit | $320,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.48 AC |
| Cap Rate | 4.15% | Building Size | 6,338 SF |
| Gross Rent Multiplier | 12.7 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Parking Ratio | 1.1/1,000 SF |
| Zoning | RM - Residential Multifamily - Medium Density | ||
| Price | $3,200,000 |
| Price Per Unit | $320,000 |
| Sale Type | Investment |
| Cap Rate | 4.15% |
| Gross Rent Multiplier | 12.7 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 6,338 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1960 |
| Parking Ratio | 1.1/1,000 SF |
| Zoning | RM - Residential Multifamily - Medium Density |
Amenities
Unit Amenities
- Refrigerator
- Oven
- Window Coverings
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 318 |
| 1+1 | 8 | - | 600 - 700 |
| 2+1 | 1 | - | 864 |
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Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 001-111-07-000 | Improvements Assessment | $728,673 |
| Land Assessment | $642,382 | Total Assessment | $1,371,055 |
Property Taxes
Parcel Number
001-111-07-000
Land Assessment
$642,382
Improvements Assessment
$728,673
Total Assessment
$1,371,055
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234 High St
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