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    Triplex with Three Turn-Key 1BD Units Title is generated by Realmo AI

    314 Windham St, Santa Cruz, CA 95062

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    New
    For Sale
    $1,549,000

    Three updated 1-bedroom units with fenced yards, shared courtyard, laundry, and carport—ideal for rental income or owner use.

    Type:Investment
    Property size:
    592 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $2,616/SF
    Added:
    Jun 1, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 6 at 4:50 am

    Property Features for 314 Windham St

    General Information

    Standard status
    Active
    Size
    592 SF
    Lot size
    0.17 Acres
    Property subtype
    Investment

    Building Details

    Year Built
    1967

    We can help!

    Listing Contact
    Brezsny Associates

    Listing agent Brezsny Associates License #70010105

    Listing office Christie's International Real Estate Sereno

    Listing date Jun 1, 2026

    Source Elliman

    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 Christie's International Real Estate Sereno

    HighLights

    • Triplex in Santa Cruz’s Seabright neighborhood, built in 1967
    • Three 1BD/1BA units, each approx. 592 sq ft
    • 7,492 sq ft lot with each unit featuring a fenced front yard
    • Updated interiors including fresh paint and laminate flooring
    • Shared courtyard plus shared laundry room and shared carport with storage
    • Walkable to Seabright Beach and Ocean View Park (~15 minutes) and nearby shopping/dining (Shoppers Corner/The Buttery ~10 minutes)

    Overview

    This triplex includes three turn-key 1BD/1BA units, each with approximately 592 square feet. The interiors have been updated with fresh paint and laminate flooring, with abundant natural light throughout. Each unit features a fenced front yard suited for gardening or outdoor enjoyment. Common amenities include a shared courtyard, a shared laundry room, and a shared carport with storage.

    Set in the Seabright neighborhood of Santa Cruz, the property is within walking distance of Seabright Beach and Ocean View Park (about 15 minutes on foot). Shoppers Corner and The Buttery are also nearby (about 10 minutes by walk), and the Santa Cruz Harbor and downtown dining and shopping are about a 5-minute drive. Mid-Town shopping and restaurants are described as being around the corner.

    The layout supports flexible occupancy, whether you’re looking to live in one unit while renting the others or pursuing a full rental strategy. With a historical rental history noted in the property materials and each home equipped with its own front-yard outdoor space, it can appeal to tenants who value privacy and day-to-day convenience within a coastal lifestyle setting.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Law Firm Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Food Market Grocery & Convenience Store 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
    -122.0120551
    Latitude
    36.9727258

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    FAQs

    What type of property is this?
    Triplex - Three updated 1-bedroom units with fenced yards, shared courtyard, laundry, and carport—ideal for rental income or owner use.
    Where is this triplex located?
    The property is located at 314 Windham St Santa Cruz, CA.
    What is the asking price?
    The asking price for this property is $1,549,000.
    What are key features of this property?
    This property features: Triplex in Santa Cruz’s Seabright neighborhood, built in 1967; Three 1BD/1BA units, each approx. 592 sq ft; 7,492 sq ft lot with each unit featuring a fenced front yard
    (831) 588-8485
    We can help!
    Listing Contact
    Brezsny Associates
    Real Estate License ID: 70010105
    Learn More
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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.

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