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    140 Bay St Santa Cruz, CA 95060

    View on Map
    Sponsored
    For Sale
    $3,200,000

    Five or More Units - SANTA CRUZ, CA

    Property size:
    5,309 SF
    Days on Market:
    3
    Last Refresh:
    Mar 27 at 4:06 pm

    Property Features for 140 Bay St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Window features
    Double Pane Windows
    Zoning
    RT
    Rooms
    Bedroom 1, Kitchen
    Bedrooms
    1
    Parking
    8
    Interior features
    None, Double Pane Windows, Low Flow Shower, Low Flow Toilet
    Appliances
    Range, Range - Electric
    Size
    5,309 SF

    Utilities

    Heating system
    Wall Furnace
    Cooling system
    Ceiling Fan(s)

    Building Details

    Year built
    1965
    Flooring type
    Carpet, Laminate
    Roof type
    Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Janet Romanowski
    Janet Romanowski

    David Lyng Real Estate

    Listing agent Janet Romanowski License #00826867

    Listing date Mar 25, 2026

    MLS# ML82040171 Listing URL

    Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Santa Cruz Multifamily Investment Opportunity

    This 8-unit property offers coastal living and investment potential in a sought-after Westside neighborhood. Located half a block from W Cliff Dr, the well-maintained building features 8 one-level, 1BR/1BA, separately metered units. Ground floor units include small outdoor spaces, while upper units offer neighborhood and downtown views. The property is professionally managed with consistent occupancy, providing stable cash flow and long-term investment reliability. The location offers immediate income and upside potential. Upgrades and amenities include a new DuroLast roof installed in 2021, double pane windows, on-site laundry, bike racks, and dedicated off-street parking. A high Walk Score provides residents with easy access to the Santa Cruz Wharf, downtown, and nearby public transit. Sandy beaches and surfing at Steamer Lane are a few blocks away. The property is located in Santa Cruz, CA 95060. The property size is 5309 square feet. The zoning is RT.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Cruz
    County
    Santa Cruz
    State
    California
    Longitude
    -122.0274596
    Latitude
    36.9614686

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained 8-unit property near the beach in Santa Cruz.
    Where is this apartment building located?
    The property is located at 140 Bay St Santa Cruz, CA.
    What is the asking price?
    The asking price for this property is $3,200,000.
    What are key features of this property?
    This property features: - Prime Westside location, steps from the beach.; - Strong investment property with 8 consistently occupied units.; - New DuroLast roof (2021) and double pane windows.
    (831) 359-5454
    Request Owner's contact information
    140 Bay St Santa Cruz, CA 95060
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    Santa Cruz, CA 95060
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    140 Bay St Santa Cruz, CA 95060
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    We can help!
    Listing Contact
    Janet Romanowski
    Janet Romanowski
    Real Estate License ID: 00826867
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