Single-Level
New
For Sale
$1,050,000
280 San Lorenzo BLVD, Santa Cruz, CA 95060
Residential Income (2-4 units), Ranch, SANTA CRUZ, CA
Property Size1,561 SF
Lot Size0.13 Acres
Price / SF$672.65
Days on Market3
Property Features for 280 San Lorenzo BLVD
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Duplex
Bedrooms
4
Rooms
Bedroom 1, Bedroom 3, Bedroom 2, Bedroom 4
Parking
1
Parking features
Garage - Attached, On Street
Appliances
Appliances - Vary by Unit, Countertop - Granite, Countertop - Solid Surface / Corian, Countertop - Synthetic, Exhaust Fan, Island
Lot features
Grade - Level
Subdivision
East Santa Cruz
Standard status
Active
Size
1,561 SF
Lot size
0.13 Acres
Utilities
Heating system
Wall Furnace
Water source
Public
Amenities
washer/dryer hookups
fenced back yards
Building Details
Year built
1950
Number of units
2
Flooring type
Laminate, Linoleum, Carpet
Building materials
Wood Frame
Roof type
Composition, Shingle
Architectural style
Ranch
Listing Agency:
Bailey Properties
(831) 688-7434
Listed By:
Robert Bailey · License #00483155
(831) 818-5948
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 20 at 7:06PM
MLS# ML82058107
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 single-story duplex contains 1,561 square feet on a 0.133-acre lot and was built in 1950 with wood-frame construction and ranch styling. Each residence includes an attached single-car garage, washer and dryer hookups, and a fenced backyard. Interior finishes include laminate, linoleum, and carpet flooring, with wall-furnace heating and composition shingle roofing.
One unit is vacant for marketing, while the second is occupied by a long-term tenant. The vacant residence has received new flooring and interior paint. Public water serves the property, which is positioned in downtown Santa Cruz with access to nearby beaches and public transit.
One unit is vacant for marketing, while the second is occupied by a long-term tenant. The vacant residence has received new flooring and interior paint. Public water serves the property, which is positioned in downtown Santa Cruz with access to nearby beaches and public transit.
Key Highlights
- 1,561‑square‑foot duplex on a 0.133‑acre lot
- Built in 1950 with wood‑frame construction and ranch architecture
- Two attached single‑car garages, plus on‑street parking
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
$43,521
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
4.14%
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%
$870,420
$870.4K
Cap Rate 7%
$621,729
$621.7K
Cap Rate 9%
$483,567
$483.6K
Market Conditions
NOI Build-Up for 1,561 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
$63.7K $40.80/SF
− Vacancy
−$1.5K −$0.97/SF
EGI
$62.2K $39.83/SF
− OpEx
−$18.7K −$11.95/SF
NOI
$43.5K $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%
$870,420
Cap Rate 7%
$621,729
Cap Rate 9%
$483,567
Alternative Uses
Best Use
Multifamily LT 5
$621.7K
$544.0K – $725.4K
NOI $43,521 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$574.0K
$502.3K – $669.7K
NOI $40,180 @ 7.0% cap · market cap 3.83%
Theoretical Best
Retail
$892.6K
$781.0K – $1.04M
NOI $62,481 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,439
Businesses Nearby
Explore this area
Business Placement
Demographics for 95060, CA
47,931
Population
20,181
Households
2.4
Avg Household Size
39
Median Age
55%
College-Educated
94%
High-School Grad
54.5 sq mi
ZIP Area
879
Density / Sq Mi
$106,040
Median Household Income
$46,231
Median Earnings
$2,356
Median Rent
$1,189,300
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?
Duplex - Two-unit property with attached garages, private fenced yards, and convenient access to downtown, beaches, and public transit.
Where is this duplex located?
The property is located at 280 San Lorenzo BLVD Santa Cruz, CA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 1,561‑square‑foot duplex on a 0.133‑acre lot; Built in 1950 with wood‑frame construction and ranch architecture; Two attached single‑car garages, plus on‑street parking
