Two Multifamily Rental
328 Ocean St Santa Cruz, CA 95060
328 Ocean St, Santa Cruz, CA, 95060
$4,100,000
For Sale
$4,100,000
Fourteen-unit portfolio on two parcels with 17 marked parking spaces and tenants on month-to-month agreements.
Lot Size0.32 Acres
Days on Market21
Property Features for 328 Ocean St
General Information
- Standard status
- Active
- Lot size
- 0.32 Acres
Listing agency
Coldwell Banker Realty
(831) 247-3007
Listed by
Paul Zech · License #01965059
(831) 247-3007
Source
Exprealty
Added: Jul 1 Updated: Jul 20 at 9:28PM Checked: Jul 20 at 9:28PM
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Investment Insights
Based on property information with market context.
This for-sale multifamily portfolio includes two rental properties totaling 14 units across two parcels. The offering includes 328 Ocean St and an additional property at 319 Jessies St, described as a 3 bed, 2 bath home with 1,475 sq. ft. and an attached 2-car garage located directly behind 328 Ocean St. The combined assets are reported as 100% occupied for the past 25 years, with income and expense history included in the offering.
The properties include 17 marked parking spaces and are situated on two parcels totaling 13,808.52 sq. ft. The tenant arrangements are currently month-to-month. The location is described as being on a major bus line, with access to Highway 17 and Highway 1 (PCH) about one mile away, and just minutes to the Santa Cruz Beach Boardwalk, Municipal Wharf, and downtown Santa Cruz.
The remarks also note potential future redevelopment value, including the possibility to increase height and unit count (buyer to verify) and the potential for stronger unit density development allowed by the city (buyer to confirm). Both properties can be purchased separately.
The properties include 17 marked parking spaces and are situated on two parcels totaling 13,808.52 sq. ft. The tenant arrangements are currently month-to-month. The location is described as being on a major bus line, with access to Highway 17 and Highway 1 (PCH) about one mile away, and just minutes to the Santa Cruz Beach Boardwalk, Municipal Wharf, and downtown Santa Cruz.
The remarks also note potential future redevelopment value, including the possibility to increase height and unit count (buyer to verify) and the potential for stronger unit density development allowed by the city (buyer to confirm). Both properties can be purchased separately.
Key Highlights
- 5.1% cap rate; two rental properties total 14 units across 2 parcels
- 100% occupied for the past 25 years; all tenants currently on month‑to‑month rental agreements
- 319 Jessies St includes a 3 bed, 2 bath 1,475 sq. ft. attached 2‑car garage unit directly behind 328 Ocean St
Property Analytics
Location Intelligence
Current Use by Public Records
Sagacity Wildcrafting
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FAQs
What type of property is this?
Apartment building - Fourteen-unit portfolio on two parcels with 17 marked parking spaces and tenants on month-to-month agreements.
Where is this apartment building located?
The property is located at 328 Ocean St Santa Cruz, CA.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: 5.1% cap rate; two rental properties total 14 units across 2 parcels; 100% occupied for the past 25 years; all tenants currently on month‑to‑month rental agreements; 319 Jessies St includes a 3 bed, 2 bath 1,475 sq. ft. attached 2‑car garage unit directly behind 328 Ocean St
