Five-Unit Apartment
313 Raymond Street Santa Cruz, CA 95060
313 Raymond Street, Santa Cruz, CA, 95060
$1,998,000
For Sale
$1,998,000
Five fully occupied apartments include four 1-bedroom units and one 2-bedroom unit, with some interior updates.
Property Size2,244 SF
Price / SF$890.37
Days on Market172
Property Features for 313 Raymond Street
General Information
- Standard status
- Active
- Size
- 2,244 SF
- Property subtype
- 5+ Units / Five or More Units
Building Details
- Year Built
- 1898
Listing agency
Bailey Properties
(831) 345-2060
Listed by
Suzanne Teixeira · License #00923308
(831) 345-2060
Source
Compass
Added: Jan 31 Updated: Jul 22 at 10:11AM Checked: Jul 22 at 10:11AM
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 for-sale five-unit apartment building is configured with four 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit. The property is fully fenced and features a gated courtyard that provides outdoor space for tenants. Public remarks indicate some interior updates, and the building is currently fully occupied.
The property is located at 313 Raymond Street, Santa Cruz, CA 95060. According to the provided information, the area is seeing growth tied to nearby luxury hotels and restaurants, with the beach, wharf, and downtown described as accessible, and UCSC noted as 5.8 miles away.
As presented, the building is positioned as a current-income residential asset with a mix of 1-bedroom and 2-bedroom apartment layouts and maintained common outdoor space within a fenced, gated setting.
The property is located at 313 Raymond Street, Santa Cruz, CA 95060. According to the provided information, the area is seeing growth tied to nearby luxury hotels and restaurants, with the beach, wharf, and downtown described as accessible, and UCSC noted as 5.8 miles away.
As presented, the building is positioned as a current-income residential asset with a mix of 1-bedroom and 2-bedroom apartment layouts and maintained common outdoor space within a fenced, gated setting.
Key Highlights
- 5‑unit apartment building, built in 1898
- Fully occupied with five apartments: four 1‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit
- Some interior updates
Local Financial Insights For Apartment 5plus
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 | $107.7k | $48.00 |
| − Vacancy | −$2.7k | −$1.20 |
| EGI | $105.0k | $46.80 |
| − OpEx | −$47.3k | −$21.06 |
| NOI | $57.8k | $25.74 |
2,244 SF · lease $48.00/SF/yr · vacancy 2.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$825.2K
$722.0K – $962.7K
NOI $57,761 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.28M
$1.12M – $1.50M
NOI $89,818 @ 7.0% cap · market cap 4.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Five fully occupied apartments include four 1-bedroom units and one 2-bedroom unit, with some interior updates.
Where is this apartment building located?
The property is located at 313 Raymond Street Santa Cruz, CA.
What is the asking price?
The asking price for this property is $1,998,000.
What are key features of this property?
This property features: 5‑unit apartment building, built in 1898; Fully occupied with five apartments: four 1‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit; Some interior updates
