Updated Four-Unit
New
For Sale
$2,695,000
130 Market St, Santa Cruz, CA 95060
Four separate structures offer varied residential layouts, garage space, landscaped outdoor areas, and off-street parking.
Property Size3,744 SF
Days on Market4
Property Features for 130 Market St
General Information
Standard status
Active
Size
3,744 SF
Property subtype
Investment
Lease Term
12 months
Units
Unit Mix
2 x 3BR, 1 x 2BR, 1 x 1BR
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$16,439
Building Details
Building Size
3,744 SF
Year Built
1908
Buildings
4
Units
4
Listing Agency:
Miritz & Bailey Real Estate, Inc
(303) 913-8113
Listed By:
Marshall Keneipp · License #02115477
(303) 913-8113
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 8:35AM
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 Miritz & Bailey Real Estate, Inc
Investment Insights
Based on property information with market context.
Built in 1908, this multifamily property combines four separate structures with a varied residential configuration. The improvements include an updated three-bedroom Victorian house, a two-bedroom cottage, and a duplex containing one-bedroom and three-bedroom units. A separate four-bay garage building provides additional garage capacity and supplemental living space above the garages. The property also includes off-street parking and a landscaped lot with outdoor areas.
The address is near downtown Santa Cruz, with stated walkability to restaurants, shops, Highway 1, the pier, the Boardwalk, and beaches. The location carries a Walk Score of 83, a Bike Score of 94, and a Transit Score of 35. Energy-efficiency improvements are reported throughout the property, and the source information notes a possible ADU conversion subject to current state and local regulations.
The address is near downtown Santa Cruz, with stated walkability to restaurants, shops, Highway 1, the pier, the Boardwalk, and beaches. The location carries a Walk Score of 83, a Bike Score of 94, and a Transit Score of 35. Energy-efficiency improvements are reported throughout the property, and the source information notes a possible ADU conversion subject to current state and local regulations.
Key Highlights
- Four separate structures with a three‑bedroom house, two‑bedroom cottage, and one‑bedroom/three‑bedroom duplex
- Separate 4‑bay garage building with supplemental living space above
- Built in 1908 with updated and maintained residential improvements
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$104,384
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,087,680
$2.1M
Cap Rate 7%
$1,491,200
$1.5M
Cap Rate 9%
$1,159,822
$1.2M
Market Conditions
NOI Build-Up for 3,744 SF
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.
Gross rent
$152.8K $40.80/SF
− Vacancy
−$3.6K −$0.97/SF
EGI
$149.1K $39.83/SF
− OpEx
−$44.7K −$11.95/SF
NOI
$104.4K $27.88/SF
Area
Santa Cruz County, CA
Vacancy
2.38%
Lease Rate
$40.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,087,680
Cap Rate 7%
$1,491,200
Cap Rate 9%
$1,159,822
Alternative Uses
Best Use
Multifamily LT 5
$1.49M
$1.30M – $1.74M
NOI $104,384 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$1.38M
$1.20M – $1.61M
NOI $96,371 @ 7.0% cap · market cap 3.58%
Theoretical Best
Retail
$2.14M
$1.87M – $2.50M
NOI $149,857 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,083
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
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 - Four separate structures offer varied residential layouts, garage space, landscaped outdoor areas, and off-street parking.
Where is this quadplex located?
The property is located at 130 Market St Santa Cruz, CA.
What is the asking price?
The asking price for this property is $2,695,000.
What are key features of this property?
This property features: Four separate structures with a three‑bedroom house, two‑bedroom cottage, and one‑bedroom/three‑bedroom duplex; Separate 4‑bay garage building with supplemental living space above; Built in 1908 with updated and maintained residential improvements
