15-Unit Townhome-Style Apartment
New
For Sale
$7,250,000
1584 Chanticleer Ave, Santa Cruz, CA 95062
Well-maintained multifamily community with private outdoor space and substantial resident parking accommodations.
Property Size15,890 SF
Lot Size1.41 Acres
Days on Market4
Property Features for 1584 Chanticleer Ave
General Information
Standard status
Active
Size
15,890 SF
Lot size
1.41 Acres
Property subtype
Multi Family Home
Zoning
RM-4
Units
Unit Mix
10 x 2BD/1BA, 4 x 1BD/1BA, 1 x micro 1BD/1BA
Multifamily Units
15
Additional Details
Cap Rate
5%
Amenities
private backyard
private laundry room
Building Details
Building Size
15,890 SF
Year Built
1977
Buildings
6
Stories
1
Listing Agency:
Kw Bay Area Estates
(408) 892-9158
Listed By:
Joel Calvillo · License #01733780
(408) 892-9158
Source:
Dualprideproperties
Added: Aug 3
Changed: Aug 4
Last Checked: Aug 5 at 2:22PM
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 Bay Area Estates
Investment Insights
Based on property information with market context.
This 15-unit apartment community in Santa Cruz presents a townhome-style layout with spacious single-story residences. The unit mix includes 10 two-bedroom/one-bath units, 4 one-bedroom/one-bath units, and 1 micro one-bedroom/one-bath unit. Each residence has a private backyard. Units 1–14 also include an attached one-car garage, private laundry room, and dedicated parking. Improvements include a newer roof, dual-pane vinyl windows, and fresh exterior paint. The property was built in 1977 and is zoned RM-4.
Set on approximately 1.41 acres within a private cul-de-sac, the community is across from Live Oak Elementary and 1.5 miles from the beach. Ownership pays water, sewer, garbage, and landscaping, while residents pay gas and electricity. The offering reports a 5.0% cap rate with property taxes adjusted accordingly.
Set on approximately 1.41 acres within a private cul-de-sac, the community is across from Live Oak Elementary and 1.5 miles from the beach. Ownership pays water, sewer, garbage, and landscaping, while residents pay gas and electricity. The offering reports a 5.0% cap rate with property taxes adjusted accordingly.
Key Highlights
- 15‑unit apartment community on approximately 1.41 acres
- Unit mix: 10 2BD/1BA, 4 1BD/1BA, and 1 micro 1BD/1BA
- Private backyard provided for every unit
Financial Insights For Apartment 5plus
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 | $762.7k | $48.00 |
| − Vacancy | −$19.1k | −$1.20 |
| EGI | $743.7k | $46.80 |
| − OpEx | −$334.6k | −$21.06 |
| NOI | $409.0k | $25.74 |
15,890 SF · lease $48.00/SF/yr · vacancy 2.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$5.84M
$5.11M – $6.82M
NOI $409,009 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$9.09M
$7.95M – $10.60M
NOI $636,013 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
820
Businesses Nearby
Explore this area
Business Placement
Demographics for 95062, CA
36,268
Population
17,055
Households
2.1
Avg Household Size
43
Median Age
51%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
7,111
Density / Sq Mi
$108,261
Median Household Income
$54,059
Median Earnings
$2,291
Median Rent
$1,064,600
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?
Apartment building - Well-maintained multifamily community with private outdoor space and substantial resident parking accommodations.
Where is this apartment building located?
The property is located at 1584 Chanticleer Ave Santa Cruz, CA.
What is the asking price?
The asking price for this property is $7,250,000.
What are key features of this property?
This property features: 15‑unit apartment community on approximately 1.41 acres; Unit mix: 10 2BD/1BA, 4 1BD/1BA, and 1 micro 1BD/1BA; Private backyard provided for every unit
