Five-Unit Apartment
For Sale
$1,999,999
114 Franklin Street, Santa Cruz, CA 95060
Fully occupied property combines a main residence with four detached accessory units.
Property Size2,685 SF
Price / SF$744.88
Days on Market262
Property Features for 114 Franklin Street
General Information
Standard status
Active
Size
2,685 SF
Property subtype
5+ Units / Five or More Units
Occupancy
100%
Units
Unit Mix
1 x 2BR main home, 2 x studio (including Jr. ADU), 2 x 2BR/1BA ADU
Multifamily Units
5
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$25,000
Amenities
Assigned Spaces
No, No, 2685, None, None
Building Details
Year Built
1980
Buildings
3
Listing Agency:
Raeid Farhat Real Estate Inc
Listed By:
Shawki Farhat · License #02225210
(831) 228-9559
Source:
Compass
Added: Jan 27
Changed: Oct 11
Last Checked: Oct 16 at 11:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Raeid Farhat Real Estate Inc
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Investment Insights
Based on property information with market context.
This 2,685-square-foot apartment property, built in 1980, contains five occupied units arranged across a main home and detached structures. The unit mix includes one two-bedroom main residence, two studio units, including a Jr. ADU, and two additional two-bedroom, one-bath ADUs.
The property is located at 114 Franklin Street in Santa Cruz, near Highway 1, the Santa Cruz Beach Boardwalk, UCSC, downtown Santa Cruz, and area restaurants. Current occupancy across all five units provides an in-place rental operation, while the property’s reported cap rate is above 7%.
The property is located at 114 Franklin Street in Santa Cruz, near Highway 1, the Santa Cruz Beach Boardwalk, UCSC, downtown Santa Cruz, and area restaurants. Current occupancy across all five units provides an in-place rental operation, while the property’s reported cap rate is above 7%.
Key Highlights
- Five‑unit property with all units currently occupied
- 2,685 square feet; built in 1980
- Unit mix includes a 2‑bedroom main home and two detached studios
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,112
Cap Rate
3.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,382,240
$1.4M
Cap Rate 7%
$987,314
$987.3K
Cap Rate 9%
$767,911
$767.9K
Market Conditions
NOI Build-Up for 2,685 SF
Gross rent
$128.9K $48.00/SF
− Vacancy
−$3.2K −$1.20/SF
EGI
$125.7K $46.80/SF
− OpEx
−$56.5K −$21.06/SF
NOI
$69.1K $25.74/SF
Area
Santa Cruz County, CA
Vacancy
2.50%
Lease Rate
$48.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,382,240
Cap Rate 7%
$987,314
Cap Rate 9%
$767,911
Alternative Uses
Best Use
Apartment 5plus
$987.3K
$863.9K – $1.15M
NOI $69,112 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.54M
$1.34M – $1.79M
NOI $107,470 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,242
Businesses Nearby
Explore this area
Business Placement
Demographics for 95060, CA
47,931
Population
20,181
Households
2.4
Avg Household Size
39
Median Age
55%
College-Educated
94%
High-School Grad
54.5 sq mi
ZIP Area
879
Density / Sq Mi
$106,040
Median Household Income
$46,231
Median Earnings
$2,356
Median Rent
$1,189,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied property combines a main residence with four detached accessory units.
Where is this apartment building located?
The property is located at 114 Franklin Street Santa Cruz, CA.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: Five‑unit property with all units currently occupied; 2,685 square feet; built in 1980; Unit mix includes a 2‑bedroom main home and two detached studios
