Seven-Unit Apartment
For Sale
$2,100,000
317 Ocean St, Santa Cruz, CA 95060
Multifamily property with a varied unit mix near Santa Cruz transportation, retail, education, employment, and coastal amenities.
Property Size3,136 SF
Lot Size0.17 Acres
Days on Market47
Property Features for 317 Ocean St
General Information
Standard status
Active
Size
3,136 SF
Net Rentable
3,700 SF
Lot size
0.17 Acres
Property subtype
Multifamily
Occupancy
97%
Site & Location
Neighborhood
Lower Ocean
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
5 x 1BR, 2 x 2BR
Multifamily Units
7
Amenities
Mix of one bedroom and two bedroom units
Solar panel upgrades
Walking distance to beach and downtown
Building Details
Building Size
3,136 SF
Units
7
Listing Agency:
Marcus & Millichap
Listed By:
Fred Rubio III · License #License(s): CA: 01984041
(650) 391-1734
Source:
Marcusmillichap
Added: Sep 13
Changed: Oct 26
Last Checked: Oct 28 at 6:18AM
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 Marcus & Millichap
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Investment Insights
Based on property information with market context.
Located at 317 Ocean St in Santa Cruz, this apartment property contains seven units with five one-bedroom residences and two two-bedroom residences. The building offers approximately 3,700 square feet of rentable area on an approximately 7,405-square-foot lot, with an established operating history and strong occupancy.
The property sits along a primary Santa Cruz transportation corridor near Highway 1, with connections to Highway 17 and access toward Scotts Valley, San Jose, and the greater Silicon Valley employment market. Downtown Santa Cruz, Pacific Avenue, the Santa Cruz Beach Boardwalk, public transportation, beaches, retail, dining, UC Santa Cruz, and local employment centers are identified within the surrounding area. The unit mix and access to educational, employment, and recreational destinations support a range of local renter needs.
The property sits along a primary Santa Cruz transportation corridor near Highway 1, with connections to Highway 17 and access toward Scotts Valley, San Jose, and the greater Silicon Valley employment market. Downtown Santa Cruz, Pacific Avenue, the Santa Cruz Beach Boardwalk, public transportation, beaches, retail, dining, UC Santa Cruz, and local employment centers are identified within the surrounding area. The unit mix and access to educational, employment, and recreational destinations support a range of local renter needs.
Key Highlights
- Seven‑unit multifamily property at 317 Ocean St, Santa Cruz, CA 95060
- Unit mix includes five one‑bedroom units and two two‑bedroom units
- Approximately 3,700 square feet of rentable building area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,721
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,614,420
$1.6M
Cap Rate 7%
$1,153,157
$1.2M
Cap Rate 9%
$896,900
$896.9K
Market Conditions
NOI Build-Up for 3,136 SF
Gross rent
$150.5K $48.00/SF
− Vacancy
−$3.8K −$1.20/SF
EGI
$146.8K $46.80/SF
− OpEx
−$66.0K −$21.06/SF
NOI
$80.7K $25.74/SF
Area
Santa Cruz County, CA
Vacancy
2.50%
Lease Rate
$48.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,614,420
Cap Rate 7%
$1,153,157
Cap Rate 9%
$896,900
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.01M – $1.35M
NOI $80,721 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.79M
$1.57M – $2.09M
NOI $125,522 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
7
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,709
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
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with a varied unit mix near Santa Cruz transportation, retail, education, employment, and coastal amenities.
Where is this apartment building located?
The property is located at 317 Ocean St Santa Cruz, CA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Seven‑unit multifamily property at 317 Ocean St, Santa Cruz, CA 95060; Unit mix includes five one‑bedroom units and two two‑bedroom units; Approximately 3,700 square feet of rentable building area
