Apartment Building With
171 Marine Parade Santa Cruz, CA 95062
For Sale
$6,500,000
12 two-bedroom units in a single building feature private balconies or patios, plus covered parking and on-site laundry.
Property Size10,098 SF
Price / SF$643.69
Days on Market114
Property Features for 171 Marine Parade
General Information
Standard status
Active
Size
10,098 SF
Property subtype
General Commercial
Building Details
Year Built
1972
Listing Agency:
Shaffer & Associates
(831) 427-1380
Listed By:
Wayne Shaffer · License #00431803
Source:
Xome
Added: Apr 7
Changed: Jul 23
Last Checked: Jul 24 at 6:00AM
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 Shaffer & Associates
Investment Insights
Based on property information with market context.
This apartment building consists of 12 two-bedroom units within one 10,098 square-foot structure. Units include balconies or patios, and some offer marina views. The property has been owned by the same family since it was built, and it includes covered parking, a sunny courtyard, and on-site laundry facilities.
Located at 171 Marine Parade in Santa Cruz, the building is at the Santa Cruz Yacht Harbor and is within a short walk to Seabright Beach.
Located at 171 Marine Parade in Santa Cruz, the building is at the Santa Cruz Yacht Harbor and is within a short walk to Seabright Beach.
Key Highlights
- 12 two‑bedroom units in a single building with private balconies or patios
- Covered parking included, plus on‑site laundry facilities
- Flat roof and level, single‑building site
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 | $484.7k | $48.00 |
| − Vacancy | −$12.1k | −$1.20 |
| EGI | $472.6k | $46.80 |
| − OpEx | −$212.7k | −$21.06 |
| NOI | $259.9k | $25.74 |
10,098 SF · lease $48.00/SF/yr · vacancy 2.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.71M
$3.25M – $4.33M
NOI $259,923 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$5.77M
$5.05M – $6.74M
NOI $404,183 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - 12 two-bedroom units in a single building feature private balconies or patios, plus covered parking and on-site laundry.
Where is this apartment building located?
The property is located at 171 Marine Parade Santa Cruz, CA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 12 two‑bedroom units in a single building with private balconies or patios; Covered parking included, plus on‑site laundry facilities; Flat roof and level, single‑building site
