Remodeled Quadplex with Expansion
For Sale
$2,250,000
1803 Halterman AVE, Santa Cruz, CA 95062
MULTI_FAMILY - SANTA CRUZ, CA
Property Size4,991 SF
Lot Size0.32 Acres
Price / SF$450.81
Days on Market24
Property Features for 1803 Halterman AVE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-3
Bedrooms
8
Rooms
Bedroom 4, Bedroom 2, Bedroom 8, Bedroom 7, Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 6
Parking
4
Parking features
Covered, Offsite
Interior features
Walk-in Closet
Appliances
Cooktop - Electric, Countertop - Laminate, Dual Fuel, Garbage Disposal, Hood Over Range, Oven - Built-In, Oven - Electric, Refrigerator
Lot features
Grade - Level
Subdivision
Live Oak
Standard status
Active
Size
4,991 SF
Lot size
0.32 Acres
Utilities
Heating system
Electric (Heating), Wall Furnace
Building Details
Year built
1966
Number of units
4
Flooring type
Carpet
Building materials
Wood
Roof type
Composition
Architectural style
Other
Listing Agency:
Bailey Properties
(831) 688-7434
Listed By:
Paul Bailey · License #00546781
(831) 818-0406
Added: Jul 9
Changed: Jul 28
Last Checked: Aug 1 at 6:06AM
MLS# ML82030395
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.
Investment Insights
Based on property information with market context.
This well-maintained quadplex is positioned as a strong baseline rental property, with four kitchens and bathrooms that have been remodeled. The building also includes a second-floor balcony area, and the property’s access and balcony area have had SB 721 work completed. A pest inspection clearance is in place, which can help simplify operational due diligence for new ownership.
Zoned RM-3 and set on a large parcel, the site has been surveyed and building envelopes have been identified. A land use planner’s report indicates a strong possibility of converting the property to a 6-plex, including the potential to add two modular, single-level units. The property is described as centrally located, close to 41st Avenue for shopping and entertainment, near Simpkins Swim Center, and within a short drive of the beach, all within a quiet neighborhood.
For buyers or investors looking for a residential income asset, this offering combines remodeled unit interiors with documented planning input regarding possible expansion on the existing parcel. It may be particularly compelling for operators who want to evaluate the feasibility of adding two modular units while acquiring a property with completed SB 721 work and clear pest inspection documentation. Please do not disturb tenants.
Zoned RM-3 and set on a large parcel, the site has been surveyed and building envelopes have been identified. A land use planner’s report indicates a strong possibility of converting the property to a 6-plex, including the potential to add two modular, single-level units. The property is described as centrally located, close to 41st Avenue for shopping and entertainment, near Simpkins Swim Center, and within a short drive of the beach, all within a quiet neighborhood.
For buyers or investors looking for a residential income asset, this offering combines remodeled unit interiors with documented planning input regarding possible expansion on the existing parcel. It may be particularly compelling for operators who want to evaluate the feasibility of adding two modular units while acquiring a property with completed SB 721 work and clear pest inspection documentation. Please do not disturb tenants.
Key Highlights
- 4‑plex built in 1966 on a large parcel; potential to expand to a 6‑plex with modular single‑level units
- All 4 kitchens and bathrooms have been remodeled
- Second‑floor balcony area and access with SB 721 work completed
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $203.6k | $40.80 |
| − Vacancy | −$4.8k | −$0.97 |
| EGI | $198.8k | $39.83 |
| − OpEx | −$59.6k | −$11.95 |
| NOI | $139.2k | $27.88 |
4,991 SF · lease $40.80/SF/yr · vacancy 2.38% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.99M
$1.74M – $2.32M
NOI $139,150 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$1.84M
$1.61M – $2.14M
NOI $128,468 @ 7.0% cap · market cap 5.71%
Theoretical Best
Retail
$2.85M
$2.50M – $3.33M
NOI $199,770 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
975
Businesses Nearby
Explore this area
Business Placement
Demographics for 95062, CA
36,268
Population
17,055
Households
2.1
Avg Household Size
43
Median Age
51%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
7,111
Density / Sq Mi
$108,261
Median Household Income
$54,059
Median Earnings
$2,291
Median Rent
$1,064,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained 4-plex with remodeled interiors and approvals support for two additional modular units.
Where is this quadplex located?
The property is located at 1803 Halterman AVE Santa Cruz, CA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 4‑plex built in 1966 on a large parcel; potential to expand to a 6‑plex with modular single‑level units; All 4 kitchens and bathrooms have been remodeled; Second‑floor balcony area and access with SB 721 work completed
