Four-Unit Multifamily
For Sale
$2,695,000
130 Market ST, Santa Cruz, CA 95060
Residential Income (2-4 units), Craftsman, Traditional, Victorian, SANTA CRUZ, CA
Property Size3,744 SF
Lot Size0.29 Acres
Price / SF$719.82
Days on Market47
Property Features for 130 Market ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-1-5
Bedrooms
9
Rooms
Bedroom 8, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 7, Bedroom 6, Bedroom 5, Bedroom 9, Laundry Room, Bedroom 2
Parking
5
Parking features
Garage - Detached, Off Street
Security features
Security Lighting
Interior features
High Ceiling, Skylight
Appliances
Dishwasher, Exhaust Fan, Hood Over Range, Oven Range, Oven Range - Gas, Refrigerator, Skylight
Subdivision
East Santa Cruz
Standard status
Active
Size
3,744 SF
Lot size
0.29 Acres
Utilities
Heating system
Forced Air, Electric (Heating), Wall Furnace, Central
Water source
Public
Building Details
Year built
1908
Number of units
4
Flooring type
Laminate, Carpet, Linoleum
Building materials
Wood Frame
Roof type
Shingle
Architectural style
Craftsman, Other, Victorian
Listing Agency:
Miritz & Bailey Real Estate, Inc
(831) 588-4528
Listed By:
Marshall Keneipp · License #02115477
(303) 913-8113
Added: Aug 5
Changed: Sep 15
Last Checked: Sep 20 at 6:06PM
MLS# ML82056624
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 3,744-square-foot quadplex occupies a 0.29-acre lot with four separate structures. The configuration includes a Victorian three-bedroom house, a two-bedroom cottage, and a duplex containing one-bedroom and three-bedroom residences. A detached four-bay garage building adds supplemental living space above the garages, while off-street parking supports the property. The residences feature updated interiors, wood-frame construction, varied heating systems, and details including high ceilings and skylights. The property was built in 1908 and is zoned R-1-5.
Located near downtown Santa Cruz, the property provides access to restaurants, shops, Highway 1, the pier, the Boardwalk, and area beaches. Public water service, landscaped outdoor areas, and energy-efficiency improvements are also included among the property features.
Located near downtown Santa Cruz, the property provides access to restaurants, shops, Highway 1, the pier, the Boardwalk, and area beaches. Public water service, landscaped outdoor areas, and energy-efficiency improvements are also included among the property features.
Key Highlights
- 3,744 square feet on a 0.29‑acre lot
- Four separate structures with a Victorian house, cottage, duplex, and garage building
- Unit mix includes 3‑bedroom, 2‑bedroom, 1‑bedroom, and 3‑bedroom residences
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
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,135
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
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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 provide updated residences, a duplex, a detached garage, and landscaped outdoor areas.
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: 3,744 square feet on a 0.29‑acre lot; Four separate structures with a Victorian house, cottage, duplex, and garage building; Unit mix includes 3‑bedroom, 2‑bedroom, 1‑bedroom, and 3‑bedroom residences
