247 High ST Santa Cruz, CA 95060
New
Five or More Units - SANTA CRUZ, CA
Property size:
5,858 SFLot size:
0.15 AcresPrice / SF:
$323/SF- Added:
- May 1, 2026
- Days on Market:
- 2
- Last Refresh:
- May 2 at 4:06 pm
Property Features for 247 High ST
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- R-UM Residential - Multifamily Medium Density
- Bedrooms
- 8
- Rooms
- Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Parking features
- Covered
- Security features
- Secured Garage/Parking
- Interior features
- Bathroom Features, Wheelchair Access, Wide Halls / Doors (3 Ft +), Secured Garage / Parking
- Exterior features
- Security Fence
- Fencing
- Fenced
- Accessibility
- Accessible Approach with Ramp
- Standard status
- Active
- Size
- 5,858 SF
- Lot size
- 0.15 Acres
Utilities
- Heating system
- Electric (Heating)
- Cooling system
- Other (Cooling)
Building Details
- Year built
- 2026
- Roof type
- Composition
- Architectural style
- Other
Listing agent Troy Hinds License #01803325 (831) 476-0100
Listing office David Lyng Real Estate 1041 41st Ave, CA (831) 476-0100
Listing date May 1, 2026
MLS# ML82043922
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.
Overview
Student Housing Development Opportunity
This is a fully permitted, shovel-ready student housing development opportunity. The project is designed as a purpose-built, fully furnished student rental to serve the robust and chronically undersupplied UCSC off-campus housing market, located approximately one mile from the main university entrance. Operating on a per-bed lease model across five three-bedroom units, the project is structured to function as an institutional-grade student housing product at a mid-market investor scale. The project's student housing income model of 27 leasable beds at a blended market rent of $1,800 per bed per month may produce a Stabilized Pro Forma Gross Income of $618,924 with NOI of $378,659 at a selected 5.00% cap rate exceeding typical investor expectations for newly constructed UCSC-proximate housing. This represents an acquisition and construction at a compelling discount with major developer upside embedded in the as-completed spread. The property is zoned R-UM Residential - Multifamily Medium Density and has a lot size of 0.153 acres. The property size is 5858 square feet. This rare offering provides an investor with the ability to acquire fully entitled, permit-ready land with approved plans for a new student housing project featuring 27 beds and 12 bathrooms without the time and cost of navigating the complex entitlement process.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Santa Cruz
- County
- Santa Cruz
- State
- California
- Longitude
- -122.0324647
- Latitude
- 36.9777674
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Permitted student housing development opportunity near UCSC.
Where is this apartment building located?
The property is located at 247 High ST Santa Cruz, CA.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Shovel‑ready student housing development opportunity with approved plans for 27 beds and 12 bathrooms.; High income potential with a Stabilized Pro Forma Gross Income of $618,924 and NOI of $378,659.; Purpose‑built, fully furnished student rental designed to serve the undersupplied UCSC off‑campus housing market.
