Fourplex with Two-Bedroom
257 High St Santa Cruz, CA 95060
New
For Sale
$2,480,000
Professionally managed fourplex with four 2-bedroom, 1-bath units, on-site laundry, and new 2025 water heaters.
Property Size3,800 SF
Price / SF$652.63
Days on Market6
Property Features for 257 High St
General Information
Standard status
Active
Size
3,800 SF
Property subtype
Investment
Building Details
Year Built
1953
Listing Agency:
Compass
(408) 661-3838
Listed By:
Seabea Ghoph · License #01413912
(408) 661-3838
Source:
Elliman
Added: Jul 24
Changed: Jul 25
Last Checked: Jul 28 at 2:51PM
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 Compass
Investment Insights
Based on property information with market context.
This professionally managed fourplex offers four spacious 2-bedroom, 1-bath units. Each unit is approximately 950 square feet, for a total of approximately 3,800 square feet, with combined 8 bedrooms and 4 bathrooms. The property includes on-site laundry, separate gas meters, and two carports, along with four additional off-street parking spaces and abundant street parking. New water heaters were installed in 2025.
The building is described as an UCSC-area investment opportunity, located steps from the UCSC bus line. The remarks note residents have convenient access to Downtown Santa Cruz, West Cliff Drive, and the Santa Cruz Beach Boardwalk, approximately 1.5 miles from the ocean. Walk Score is listed as 83 and Bike Score as 94.
The fourplex is fully occupied and supported by a strong rental history, generating approximately $186,000 in annual gross income. The remarks also mention potential feasibility for conversion to 3-bedroom configurations; a buyer should verify feasibility.
The building is described as an UCSC-area investment opportunity, located steps from the UCSC bus line. The remarks note residents have convenient access to Downtown Santa Cruz, West Cliff Drive, and the Santa Cruz Beach Boardwalk, approximately 1.5 miles from the ocean. Walk Score is listed as 83 and Bike Score as 94.
The fourplex is fully occupied and supported by a strong rental history, generating approximately $186,000 in annual gross income. The remarks also mention potential feasibility for conversion to 3-bedroom configurations; a buyer should verify feasibility.
Key Highlights
- Fourplex built in 1953 with four 2‑bedroom, 1‑bath units totaling about 3,800 SF
- 8 bedrooms and 4 bathrooms across the property; each unit is approximately 950 SF
- Professionally managed and fully occupied, with approximately $186,000 in annual gross income
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 | $155.0k | $40.80 |
| − Vacancy | −$3.7k | −$0.97 |
| EGI | $151.4k | $39.83 |
| − OpEx | −$45.4k | −$11.95 |
| NOI | $105.9k | $27.88 |
3,800 SF · lease $40.80/SF/yr · vacancy 2.38% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.51M
$1.32M – $1.77M
NOI $105,945 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,812 @ 7.0% cap · market cap 3.94%
Theoretical Best
Retail
$2.17M
$1.90M – $2.53M
NOI $152,099 @ 7.0% cap · market cap 6.13%
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?
Quadplex - Professionally managed fourplex with four 2-bedroom, 1-bath units, on-site laundry, and new 2025 water heaters.
Where is this quadplex located?
The property is located at 257 High St Santa Cruz, CA.
What is the asking price?
The asking price for this property is $2,480,000.
What are key features of this property?
This property features: Fourplex built in 1953 with four 2‑bedroom, 1‑bath units totaling about 3,800 SF; 8 bedrooms and 4 bathrooms across the property; each unit is approximately 950 SF; Professionally managed and fully occupied, with approximately $186,000 in annual gross income
