UCSC Rental Investment
817 California St Santa Cruz, CA 95060
For Sale
$3,975,000
Four 4-bed/2-bath units near UCSC with strong income.
Property Size4,828 SF
Price / SF$823.32
Days on Market94
Property Features for 817 California St
General Information
- Standard status
- Active
- Size
- 4,828 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1973
Listing Agency:
(831) 515-8582
Listed By:
Sam Bird-Robinson · License #01901727
(831) 515-8582
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 26 at 4:19AM
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 Sam Bird-Robinson
Investment Insights
Based on property information with market context.
This professionally managed rental property near UCSC presents an investment opportunity. The property includes four units, each featuring 4 bedrooms and 2 bathrooms within 1,207 square feet. The total building area is 4,828 square feet, comprising 16 bedrooms and 8 bathrooms. The property benefits from an established rental history and a low vacancy rate. The total operating income is nearly $275,000 per year, with a net operating income (NOI) of $191,000 per year. On-site laundry, off-street parking, and four separate water and gas meters are included. The location provides access to campus and Downtown Santa Cruz via the UCSC bus line corridor. The bike score is 94, indicating it is a biker's paradise. The walk score is 83, indicating it is very walkable, and the transit score is 35, indicating some transit options are available. All units are 4 bed / 2 bath.
Key Highlights
- High Net Operating Income (NOI) of $191K/year.
- Total Operating Income of nearly $275K/year.
- Four 4‑Bed/2‑Bath units totaling 16 bedrooms and 8 bathrooms.
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 | $197.0k | $40.80 |
| − Vacancy | −$4.7k | −$0.97 |
| EGI | $192.3k | $39.83 |
| − OpEx | −$57.7k | −$11.95 |
| NOI | $134.6k | $27.88 |
4,828 SF · lease $40.80/SF/yr · vacancy 2.38% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.92M
$1.68M – $2.24M
NOI $134,606 @ 7.0% cap · market cap 3.39%
Second Best
Apartment 5plus
$1.78M
$1.55M – $2.07M
NOI $124,273 @ 7.0% cap · market cap 3.13%
Theoretical Best
Retail
$2.76M
$2.42M – $3.22M
NOI $193,246 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four 4-bed/2-bath units near UCSC with strong income.
Where is this quadplex located?
The property is located at 817 California St Santa Cruz, CA.
What is the asking price?
The asking price for this property is $3,975,000.
What are key features of this property?
This property features: High Net Operating Income (NOI) of $191K/year.; Total Operating Income of nearly $275K/year.; Four 4‑Bed/2‑Bath units totaling 16 bedrooms and 8 bathrooms.
