Duplex with Private Outdoor
For Sale
Under Contract
$1,799,000
334 Pennsylvania AVE, Santa Cruz, CA 95062
MULTI_FAMILY - SANTA CRUZ, CA
Property Size2,826 SF
Lot Size0.20 Acres
Price / SF$636.59
Days on Market20
Property Features for 334 Pennsylvania AVE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
8
Rooms
Bedroom 1, Bedroom 3, Bedroom 6, Bedroom 7, Bedroom 4, Bedroom 2, Bedroom 8, Bedroom 5
Parking
4
Appliances
Appliances - Vary by Unit, Countertop - Granite, Countertop - Synthetic, Dishwasher
Subdivision
East Santa Cruz
Standard status
Active Under Contract
Size
2,826 SF
Lot size
0.20 Acres
Utilities
Heating system
Natural Gas, Forced Air, Central, Wall Furnace
Water source
Public
Building Details
Year built
1990
Number of units
2
Flooring type
Linoleum, Carpet, Laminate, Hardwood
Roof type
Composition
Listing Agency:
Miritz & Bailey Real Estate, Inc
(831) 588-4528
Listed By:
Linda Bailey · License #01369236
(831) 818-1944
Added: Jul 13
Changed: Jul 30
Last Checked: Aug 1 at 2:06AM
MLS# ML82051180
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.
Located at 334 Pennsylvania Ave in Santa Cruz, this R-2 duplex sits on an 8,756-square-foot lot and totals 2,826 square feet. County records list it as a duplex, and the property is configured as two distinct homes, each with its own private outdoor space and individual addresses.
Across the two residences, there are six bedrooms and three and one-half bathrooms. The front home includes two bedrooms, one updated bathroom, a kitchen with quartz counters, a dining room, and a laundry room, along with its own large backyard. The main residence offers three bedrooms, two and one-half bathrooms, a dining room, inside laundry, fresh interior paint, and brand-new carpeting, with an oversized deck off the primary suite.
Built in 1990, the property is served by public water and features central heating plus natural gas forced air and wall furnace options. Flooring includes hardwood, laminate, carpet, and linoleum, and the roof is a composition roof.
Across the two residences, there are six bedrooms and three and one-half bathrooms. The front home includes two bedrooms, one updated bathroom, a kitchen with quartz counters, a dining room, and a laundry room, along with its own large backyard. The main residence offers three bedrooms, two and one-half bathrooms, a dining room, inside laundry, fresh interior paint, and brand-new carpeting, with an oversized deck off the primary suite.
Built in 1990, the property is served by public water and features central heating plus natural gas forced air and wall furnace options. Flooring includes hardwood, laminate, carpet, and linoleum, and the roof is a composition roof.
Key Highlights
- 8,756‑square‑foot lot and 2,826 square feet total in an R‑2 duplex configuration
- Two separate residences, each with its own private outdoor space and individual addresses
- Six bedrooms and three and one‑half bathrooms across the two homes
Financial Insights For Multifamily LT 5
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 | $115.3k | $40.80 |
| − Vacancy | −$2.7k | −$0.97 |
| EGI | $112.6k | $39.83 |
| − OpEx | −$33.8k | −$11.95 |
| NOI | $78.8k | $27.88 |
2,826 SF · lease $40.80/SF/yr · vacancy 2.38% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$984.9K – $1.31M
NOI $78,790 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$1.04M
$909.3K – $1.21M
NOI $72,741 @ 7.0% cap · market cap 4.04%
Theoretical Best
Retail
$1.62M
$1.41M – $1.89M
NOI $113,113 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,118
Businesses Nearby
Explore this area
Business Placement
Demographics for 95062, CA
36,268
Population
17,055
Households
2.1
Avg Household Size
43
Median Age
51%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
7,111
Density / Sq Mi
$108,261
Median Household Income
$54,059
Median Earnings
$2,291
Median Rent
$1,064,600
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 - R-2 zoned duplex on public water with two separate residences, each offering its own outdoor space.
Where is this duplex located?
The property is located at 334 Pennsylvania AVE Santa Cruz, CA.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: 8,756‑square‑foot lot and 2,826 square feet total in an R‑2 duplex configuration; Two separate residences, each with its own private outdoor space and individual addresses; Six bedrooms and three and one‑half bathrooms across the two homes
