Duplex with Private 2-Car
For Sale
$3,150,000
300 Columbia ST, Santa Cruz, CA 95060
MULTI_FAMILY - SANTA CRUZ, CA
Property Size3,520 SF
Lot Size0.21 Acres
Price / SF$894.89
Days on Market46
Property Features for 300 Columbia ST
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Res
Bedrooms
5
Rooms
Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 1, Bedroom 2
Parking features
Garage - Attached, Off Street, Covered, Assigned
Interior features
High Ceiling, Vaulted Ceiling
Appliances
Countertop - Ceramic, Countertop - Tile, Dishwasher, Exhaust Fan, Garbage Disposal, Hood Over Range, Oven Range, Pantry Cabinet, Refrigerator
Subdivision
West Santa Cruz
Standard status
Active
Size
3,520 SF
Lot size
0.21 Acres
Utilities
Heating system
Electric (Heating)
Water source
Public
Amenities
private yard
jetted hot tub
Building Details
Year built
1979
Number of units
2
Flooring type
Laminate
Roof type
Composition, Shingle
Listing Agency:
Bailey Properties
(831) 426-4100
Listed By:
Tommy Ligon · License #01449570
(831) 331-7828
Added: Jun 22
Changed: Aug 2
Last Checked: Aug 6 at 11:06AM
MLS# ML82043847
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 on the Lower Westside includes two separate units designed for rental flexibility: an upper 3BD/2BA unit and a lower 2BD/2BA unit with a bonus room that can function as a third bedroom. Parking is a standout, with each unit offering a private 2-car garage. Interior features include high ceilings and vaulted ceilings, and the home is supported by electric heating. The roof is composition shingle, and the property uses public water. Appliances listed include dishwasher, oven/range, refrigerator, and garbage disposal, with laminate flooring throughout.
The property is located on Columbia ST in Santa Cruz, CA 95060, described as one block from the ocean and near West Cliff Drive. It is steps from Lighthouse Field State Beach and close to Steamer Lane Supply restaurant. The listing also notes easy access to downtown Santa Cruz, the Santa Cruz Wharf, and the Santa Cruz Beach Boardwalk, along with connectivity to coastal and mountain biking trails.
Built in 1979 on a 0.207-acre lot, this duplex is sized at 3,520 SF and is zoned Res. Parking includes attached garage, off-street, covered, and assigned options.
The property is located on Columbia ST in Santa Cruz, CA 95060, described as one block from the ocean and near West Cliff Drive. It is steps from Lighthouse Field State Beach and close to Steamer Lane Supply restaurant. The listing also notes easy access to downtown Santa Cruz, the Santa Cruz Wharf, and the Santa Cruz Beach Boardwalk, along with connectivity to coastal and mountain biking trails.
Built in 1979 on a 0.207-acre lot, this duplex is sized at 3,520 SF and is zoned Res. Parking includes attached garage, off-street, covered, and assigned options.
Key Highlights
- 0.207‑acre duplex site with 3,520 SF total
- Upper unit: 3BD/2BA with private yard and jetted hot tub
- Lower unit: 2BD/2BA plus bonus room that can function as a third bedroom
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,207
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 - Duplex in Santa Cruz featuring a 3BD/2BA upper unit and a 2BD/2BA lower unit with a bonus room.
Where is this duplex located?
The property is located at 300 Columbia ST 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: 0.207‑acre duplex site with 3,520 SF total; Upper unit: 3BD/2BA with private yard and jetted hot tub; Lower unit: 2BD/2BA plus bonus room that can function as a third bedroom
