Remodeled Triplex with Three
1505 17th Avenue Santa Cruz, CA 95062
1505 17th Avenue, Santa Cruz, CA, 95062
$1,400,000
Pending
For Sale
$1,400,000
Pending
Triplex with three rental units, including a remodeled front 2-bedroom home and an above studio.
Property Size1,495 SF
Days on Market325
Property Features for 1505 17th Avenue
General Information
- Standard status
- Pending
- Size
- 1,495 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1944
Listing agency
KW Thrive Santa Cruz
(831) 457-5500
Listed by
Discover Real Estate · License #70010109
Source
Exitrealty
Added: Aug 31, 2025 Updated: Jul 21 at 7:13AM Checked: Jul 21 at 7:13AM
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 KW Thrive Santa Cruz
Investment Insights
Based on property information with market context.
This triplex is currently configured as three separate rental units. The front unit is a remodeled 2-bedroom, 1-bath home with a new bathroom, stainless steel appliances, quartz countertops, and a large walk-in closet with barn door. It also includes a separate yard and private laundry facilities. Above the home is a studio unit that can be converted back into a 3rd bedroom for added flexibility. A detached 2-bedroom, 1-bath unit rounds out the property, with an updated kitchen, private yard, and storage/garage.
Located in Live Oak at 1505 17th Avenue, the property is positioned near surf spots, approximately 1 mile to Sunny Cove, and close to major shopping on 41st.
Overall, the layout provides multiple on-site rental options within one property, with private outdoor space and dedicated laundry facilities for the front unit.
Located in Live Oak at 1505 17th Avenue, the property is positioned near surf spots, approximately 1 mile to Sunny Cove, and close to major shopping on 41st.
Overall, the layout provides multiple on-site rental options within one property, with private outdoor space and dedicated laundry facilities for the front unit.
Key Highlights
- Triplex with three rental units, built in 1944
- Remodeled front 2‑bedroom, 1‑bath home with a new bathroom, large walk‑in closet (barn door), and kitchen with stainless steel appliances and quartz countertops
- Front unit includes a spacious separate yard and private laundry facilities
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $61.0k | $40.80 |
| − Vacancy | −$1.5k | −$0.97 |
| EGI | $59.5k | $39.83 |
| − OpEx | −$17.9k | −$11.95 |
| NOI | $41.7k | $27.88 |
1,495 SF · lease $40.80/SF/yr · vacancy 2.38% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$595.4K
$521.0K – $694.7K
NOI $41,681 @ 7.0% cap · market cap 2.98%
Second Best
Apartment 5plus
$549.7K
$481.0K – $641.4K
NOI $38,481 @ 7.0% cap · market cap 2.75%
Theoretical Best
Retail
$854.8K
$748.0K – $997.3K
NOI $59,839 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Triplex with three rental units, including a remodeled front 2-bedroom home and an above studio.
Where is this triplex located?
The property is located at 1505 17th Avenue Santa Cruz, CA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Triplex with three rental units, built in 1944; Remodeled front 2‑bedroom, 1‑bath home with a new bathroom, large walk‑in closet (barn door), and kitchen with stainless steel appliances and quartz countertops; Front unit includes a spacious separate yard and private laundry facilities
