15-Unit Townhome-Style Apartment
For Sale
$7,250,000
Chanticleer, Santa Cruz, CA 95062
ResidentialIncome, SantaCruz, CA
Property Size15,890 SF
Lot Size1.42 Acres
Price / SF$456.26
Days on Market85
Property Features for Chanticleer
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-4
Parking features
Garage
Elementary school
LiveOakElementary
Middle school
ShorelineMiddle
High school
SantaCruzCityHigh
Elementary school district
LiveOakElementary
High school district
SantaCruzCityHigh
Subdivision
LiveOak
Standard status
Active
APN
029-144-07-000
Size
15,890 SF
Lot size
1.42 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
private backyard
private laundry room
Building Details
Year built
1977
Roof type
Composition
Listing Agency:
KW Bay Area Estates · Keller Williams Realty
(408) 560-9000
Listed By:
Joel Calvillo · License #01733780
(408) 892-9158
Added: Jul 29
Changed: Oct 21
Last Checked: Oct 21 at 10:06AM
MLS# ML82055928
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 15-unit apartment property offers a single-story, townhome-style layout across 1.4151 acres. The unit mix comprises 10 two-bedroom, one-bathroom residences, four one-bedroom, one-bathroom residences, and one micro one-bedroom, one-bathroom unit. Each residence has a private backyard; Units 1–14 also have an attached one-car garage, a private laundry room, and dedicated parking. The 15,890-square-foot property was built in 1977 and has RM-4 zoning.
Property improvements include a newer composition roof, dual-pane vinyl windows, and fresh exterior paint. Public water and sewer serve the property. It is across from Live Oak Elementary and approximately 1.5 miles from the beach. The owner covers water, sewer, garbage, and landscaping; tenants pay gas and electricity. The reported cap rate is 5.62%.
Property improvements include a newer composition roof, dual-pane vinyl windows, and fresh exterior paint. Public water and sewer serve the property. It is across from Live Oak Elementary and approximately 1.5 miles from the beach. The owner covers water, sewer, garbage, and landscaping; tenants pay gas and electricity. The reported cap rate is 5.62%.
Key Highlights
- 15 units: 10 two‑bedroom/one‑bath, 4 one‑bedroom/one‑bath, and 1 micro one‑bedroom/one‑bath
- 1.4151‑acre site with a 15,890‑square‑foot property
- Units 1–14 have attached one‑car garages, private laundry rooms, and dedicated parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$409,009
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,180,180
$8.2M
Cap Rate 7%
$5,842,986
$5.8M
Cap Rate 9%
$4,544,544
$4.5M
Market Conditions
NOI Build-Up for 15,890 SF
Gross rent
$762.7K $48.00/SF
− Vacancy
−$19.1K −$1.20/SF
EGI
$743.7K $46.80/SF
− OpEx
−$334.6K −$21.06/SF
NOI
$409.0K $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%
$8,180,180
Cap Rate 7%
$5,842,986
Cap Rate 9%
$4,544,544
Alternative Uses
Best Use
Apartment 5plus
$5.84M
$5.11M – $6.82M
NOI $409,009 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$9.09M
$7.95M – $10.60M
NOI $636,013 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
835
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Single-story residences have private backyards, and most include a garage and private laundry room.
Where is this apartment building located?
The property is located at Chanticleer Santa Cruz, CA.
What is the asking price?
The asking price for this property is $7,250,000.
What are key features of this property?
This property features: 15 units: 10 two‑bedroom/one‑bath, 4 one‑bedroom/one‑bath, and 1 micro one‑bedroom/one‑bath; 1.4151‑acre site with a 15,890‑square‑foot property; Units 1–14 have attached one‑car garages, private laundry rooms, and dedicated parking
