Santa Cruz Multi-Family
SANTA CRUZ, Santa Cruz 95060
MULTI_FAMILY - SANTA CRUZ
Property size:
5,923 SFLot size:
0.42 AcresPrice / SF:
$455/SF- Added:
- Apr 4, 2026
- Days on Market:
- 48
- Last Refresh:
- May 21 at 5:06 pm
Property Features for SANTA CRUZ
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Commercial
- Parking
- 17
- Parking features
- Covered
- Security features
- Security Alarm
- Standard status
- Active
- Size
- 5,923 SF
- Lot size
- 0.42 Acres
Utilities
- Water source
- Public
Building Details
- Year built
- 1889
- Flooring type
- Hardwood, Carpet
- Roof type
- Composition, Shingle
Listing agent Marvin Christie License #01894395 (831) 406-1031
Listing office Anderson Christie, Inc. 115 Knight Street, Santa Cruz, CA (831) 515-8421
Listing date Apr 4, 2026
MLS# ML81988389
Listing URL
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.
HighLights
- New zoning allows for multi‑residential conversion, offering development potential.
- Separate structure with legal residential unit provides live/work opportunity or rental income.
- Located on a highly visible corner lot, walking distance to downtown restaurants and shops.
- Spacious Victorian house with 4,623 Sq. Ft. plus 200 Sq. Ft. of storage space.
- Includes 6 private offices, meeting rooms, and breakrooms, suitable for various professional uses.
- Three parcels totaling over 18,000 Sq. Ft. with potential to merge lots for future development.
Overview
This property presents a rare opportunity to own a piece of Santa Cruz history. The spacious Victorian house, currently used as an office, is located on a highly visible corner on one of Santa Cruz's most well-traveled roads, yet is within walking distance of downtown restaurants and shops. The building is 4,623 square feet with an additional 200 square feet of storage space, and includes 6 private offices as well as several meeting rooms and breakrooms. The city will allow conversion into multi-family residential units. In addition, there is a separate structure with a legal residential unit on the second floor above private office space, offering an opportunity for live/work arrangements or rental income. The property has an established history with therapy and professional office users. Possible uses include live/work, group home, transitional housing, or a recovery facility. The property consists of three parcels totaling over 18,000 square feet, or 0.415 acres. There is potential to merge lots for future development possibilities. Buyers should verify residential and developmental possibilities with the City of Santa Cruz.
Financial Insights
Value Estimation Calculated for Mixed Use
Conservative
$2.35M
NOI $211,673 @ 9.00% cap · cautious / downside scenario
Moderate
$3.02M
NOI $211,673 @ 7.00% cap · market / base-case scenario
Aggressive
$4.23M
NOI $211,673 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Mixed Use
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $355.4k | $60.00 |
| − Vacancy | −$16.7k | −$2.82 |
| EGI | $338.7k | $57.18 |
| − OpEx | −$127.0k | −$21.44 |
| NOI | $211.7k | $35.74 |
5,923 SF · lease $60.00/SF/yr · vacancy 4.70% · expense 37.50%
Alternative Use Scenarios
Best Use
Mixed Use
$3.02M
$2.65M – $3.53M
NOI $211,673 @ 7.0% cap · market cap 7.84%
Second Best
Apartment 5plus
$2.18M
$1.91M – $2.54M
NOI $152,458 @ 7.0% cap · market cap 5.65%
Theoretical Best
Retail
$3.39M
$2.96M – $3.95M
NOI $237,074 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office buildings
Map
- City
- Santa Cruz
- County
- Santa Cruz
- State
- Longitude
- -122.033737
- Latitude
- 36.974492
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Victorian office building with multi-family conversion potential.
Where is this office building located?
The property is located at SANTA CRUZ Santa Cruz.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: New zoning allows for multi‑residential conversion, offering development potential.; Separate structure with legal residential unit provides live/work opportunity or rental income.; Located on a highly visible corner lot, walking distance to downtown restaurants and shops.
