Duplex with Private Garages and
For Sale
$3,150,000
300 Columbia Street, Santa Cruz, CA 95060
Two-unit duplex featuring private two-car garages and a yard with jetted hot tub for the upper unit.
Property Size3,520 SF
Price / SF$894.89
Days on Market178
Property Features for 300 Columbia Street
General Information
Standard status
Active
Size
3,520 SF
Property subtype
Multi-family
Building Details
Year Built
1979
Listing Agency:
Bailey Properties
Listed By:
Tommy Ligon
(714) 497-3550
Source:
Sevengables
Added: Mar 20
Changed: Sep 12
Last Checked: Sep 13 at 10:02AM
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 Bailey Properties
Investment Insights
Based on property information with market context.
This duplex offers two separate residential units with flexible living and rental configuration. The upper unit is a 3-bedroom, 2-bath layout and includes a private yard with a jetted hot tub. The lower unit is a 2-bedroom, 2-bath arrangement with a bonus room that can function as a third bedroom.
The property is located on Santa Cruz’s Lower Westside, approximately one block from the ocean and near West Cliff Drive. It is described as steps from Lighthouse Field State Beach and close to Steamer Lane Supply restaurant, with easy access to the Santa Cruz downtown area, the Santa Cruz Wharf, and the Santa Cruz Beach Boardwalk.
Each unit includes its own private 2-car garage, a practical amenity for tenants seeking secure parking near the coast. The unit mix and the bonus room in the lower home support a variety of tenant needs, whether renting both units or occupying one while leasing the other. Please note that any short-term rental use would require buyer verification.
The property is located on Santa Cruz’s Lower Westside, approximately one block from the ocean and near West Cliff Drive. It is described as steps from Lighthouse Field State Beach and close to Steamer Lane Supply restaurant, with easy access to the Santa Cruz downtown area, the Santa Cruz Wharf, and the Santa Cruz Beach Boardwalk.
Each unit includes its own private 2-car garage, a practical amenity for tenants seeking secure parking near the coast. The unit mix and the bonus room in the lower home support a variety of tenant needs, whether renting both units or occupying one while leasing the other. Please note that any short-term rental use would require buyer verification.
Key Highlights
- 1979‑built two‑unit duplex on Santa Cruz’s Lower Westside, one block from the ocean and West Cliff Drive
- Upper unit: 3BD/2BA plus bonus room functioning as a third bedroom; includes a private yard with jetted hot tub
- Lower unit: 2BD/2BA plus bonus room that can function as a third bedroom for added rental flexibility
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
$98,139
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
3.12%
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%
$1,962,780
$2.0M
Cap Rate 7%
$1,401,986
$1.4M
Cap Rate 9%
$1,090,433
$1.1M
Market Conditions
NOI Build-Up for 3,520 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
$143.6K $40.80/SF
− Vacancy
−$3.4K −$0.97/SF
EGI
$140.2K $39.83/SF
− OpEx
−$42.1K −$11.95/SF
NOI
$98.1K $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%
$1,962,780
Cap Rate 7%
$1,401,986
Cap Rate 9%
$1,090,433
Alternative Uses
Best Use
Multifamily LT 5
$1.40M
$1.23M – $1.64M
NOI $98,139 @ 7.0% cap · market cap 3.12%
Second Best
Apartment 5plus
$1.29M
$1.13M – $1.51M
NOI $90,605 @ 7.0% cap · market cap 2.88%
Theoretical Best
Retail
$2.01M
$1.76M – $2.35M
NOI $140,892 @ 7.0% cap · market cap 4.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
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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
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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 - Two-unit duplex featuring private two-car garages and a yard with jetted hot tub for the upper unit.
Where is this duplex located?
The property is located at 300 Columbia Street Santa Cruz, CA.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: 1979‑built two‑unit duplex on Santa Cruz’s Lower Westside, one block from the ocean and West Cliff Drive; Upper unit: 3BD/2BA plus bonus room functioning as a third bedroom; includes a private yard with jetted hot tub; Lower unit: 2BD/2BA plus bonus room that can function as a third bedroom for added rental flexibility
