Duplex with Detached
New
For Sale
$1,050,000
637-639 Riverside Avenue, Santa Cruz, CA 95060
ResidentialIncome, SantaCruz, CA
Property Size2,092 SF
Lot Size0.15 Acres
Price / SF$501.91
Days on Market2
Property Features for 637-639 Riverside Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi Unit
Parking
2
Parking features
On Street
Appliances
OvenRange, Refrigerator, WasherDryerSomeUnits
High school
SantaCruzCityElementary
High school district
SantaCruzCityElementary
Subdivision
EastSantaCruz
Standard status
Active
APN
007-422-01-000
Size
2,092 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
4660
Utilities
Heating system
Natural Gas, Forced Air, Central
Building Details
Year built
1954
Floors in Building
1
Number of units
2
Flooring type
Tile, Hardwood
Roof type
Tile
Listing Agency:
KW Thrive Santa Cruz · Keller Williams Realty
(831) 457-5500
Listed By:
The Portola Group · License #70010159
(831) 440-8367
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 27 at 11:06PM
MLS# ML82065788
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.
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Investment Insights
Based on property information with market context.
This duplex contains 2,092 square feet and sits on a 0.15-acre corner lot. The property includes a detached two-car garage, dual-pane windows, hardwood and tile flooring, and a tile roof. Heating is provided by natural gas, forced air, and central systems; appliances include an oven/range and refrigerator, with washer-dryer availability in some units. The sewer lateral system has been replaced, and mature fruit trees are on the grounds.
Built in 1954 and zoned Multi Unit, the property is a short walk from downtown Santa Cruz shops, restaurants, and local businesses. On-street parking is listed.
Built in 1954 and zoned Multi Unit, the property is a short walk from downtown Santa Cruz shops, restaurants, and local businesses. On-street parking is listed.
Key Highlights
- 2,092‑square‑foot duplex on a 0.15‑acre corner lot
- Detached two‑car garage
- New sewer lateral system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,326
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,166,520
$1.2M
Cap Rate 7%
$833,229
$833.2K
Cap Rate 9%
$648,067
$648.1K
Market Conditions
NOI Build-Up for 2,092 SF
Gross rent
$85.4K $40.80/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$83.3K $39.83/SF
− OpEx
−$25.0K −$11.95/SF
NOI
$58.3K $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 Rate 5%
$1,166,520
Cap Rate 7%
$833,229
Cap Rate 9%
$648,067
Alternative Uses
Best Use
Multifamily LT 5
$833.2K
$729.1K – $972.1K
NOI $58,326 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$769.3K
$673.1K – $897.5K
NOI $53,848 @ 7.0% cap · market cap 5.13%
Theoretical Best
Retail
$1.20M
$1.05M – $1.40M
NOI $83,734 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,439
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?
Duplex - Two separate residences sit on a corner parcel near downtown shops, restaurants, and local businesses.
Where is this duplex located?
The property is located at 637-639 Riverside Avenue Santa Cruz, CA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 2,092‑square‑foot duplex on a 0.15‑acre corner lot; Detached two‑car garage; New sewer lateral system
