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704 Broadway - 704-718 Broadway 9 Unit Apartment Building Offered at $3,650,000 at a 5.51% Cap Rate Santa Cruz, CA 95062

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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.

PROPERTY FACTS

Price	$3,650,000	Lot Size	0.44 AC
Price Per Unit	$405,556	Building Size	5,213 SF
Sale Type	Investment	Average Occupancy	89%
Cap Rate	5.51%	No. Stories	1
Gross Rent Multiplier	12.41	Year Built	1939
No. Units	9	Parking Ratio	1.73/1,000 SF
Property Type	Multifamily Multifamily Apartments	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low-Rise
Zoning	R-L Multiple Residence

Price	$3,650,000
Price Per Unit	$405,556
Sale Type	Investment
Cap Rate	5.51%
Gross Rent Multiplier	12.41
No. Units	9
Property Type	Multifamily Multifamily Apartments
Apartment Style	Low-Rise
Lot Size	0.44 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 State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R-L Multiple Residence