Updated Duplex with
New
For Sale
$1,539,000
1858 Halterman AVE, Santa Cruz, CA 95062
Residential Income (2-4 units), SANTA CRUZ, CA
Property Size1,776 SF
Lot Size0.14 Acres
Price / SF$866.55
Days on Market1
Property Features for 1858 Halterman AVE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-3
Bedrooms
4
Rooms
Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 1
Parking
2
Parking features
Garage - Attached, Assigned
Subdivision
Live Oak
Standard status
Active
Size
1,776 SF
Lot size
0.14 Acres
Utilities
Heating system
Natural Gas, Central, Forced Air
Amenities
updated kitchens and bathrooms
recessed lighting
central forced air heating
tankless hot water
in-unit laundry
private yards
Building Details
Year built
1965
Number of units
2
Roof type
Composition
Listing Agency:
David Lyng Real Estate
(831) 429-5700
Listed By:
Troy Hinds · License #01803325
(831) 706-6224
Added: Sep 22
Last Checked: Sep 22 at 11:06PM
MLS# ML82061557
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 duplex contains 1,776 square feet across two 888-square-foot units with matching layouts. A comprehensive remodel was completed in 2020, adding updated kitchens and bathrooms, recessed lighting, central forced-air heating, on-demand tankless hot water, and laundry within each unit. Both residences include an attached one-car garage and expansive side and rear yards. The property was built in 1965 and has a composition roof.
Located on Halterman Avenue in Santa Cruz’s Live Oak area, the property is close to parks, beaches, local amenities, and the Pleasure Point surf breaks. The 0.144-acre site is zoned RM-3. Each unit offers two bedrooms, based on the listed four-bedroom total, while the two residences provide separate living spaces within the duplex configuration.
Located on Halterman Avenue in Santa Cruz’s Live Oak area, the property is close to parks, beaches, local amenities, and the Pleasure Point surf breaks. The 0.144-acre site is zoned RM-3. Each unit offers two bedrooms, based on the listed four-bedroom total, while the two residences provide separate living spaces within the duplex configuration.
Key Highlights
- Two‑unit duplex totaling 1,776 SF
- Two 888 SF units with matching layouts
- 2020 comprehensive remodel
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
$49,515
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
3.22%
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%
$990,300
$990.3K
Cap Rate 7%
$707,357
$707.4K
Cap Rate 9%
$550,167
$550.2K
Market Conditions
NOI Build-Up for 1,776 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
$72.5K $40.80/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$70.7K $39.83/SF
− OpEx
−$21.2K −$11.95/SF
NOI
$49.5K $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%
$990,300
Cap Rate 7%
$707,357
Cap Rate 9%
$550,167
Alternative Uses
Best Use
Multifamily LT 5
$707.4K
$618.9K – $825.3K
NOI $49,515 @ 7.0% cap · market cap 3.22%
Second Best
Apartment 5plus
$653.1K
$571.4K – $761.9K
NOI $45,714 @ 7.0% cap · market cap 2.97%
Theoretical Best
Retail
$1.02M
$888.6K – $1.18M
NOI $71,086 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
836
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Remodeled two-unit property with private outdoor areas, attached garages, and in-unit laundry.
Where is this duplex located?
The property is located at 1858 Halterman AVE Santa Cruz, CA.
What is the asking price?
The asking price for this property is $1,539,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,776 SF; Two 888 SF units with matching layouts; 2020 comprehensive remodel
