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    Coastal Investment Opportunity in Santa Cruz Title is generated by Realmo AI

    SANTA CRUZ, Santa Cruz 95060

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    For Sale
    $3,150,000

    MULTI_FAMILY - SANTA CRUZ

    Property size:
    3,520 SF
    Lot size:
    0.21 Acres
    Price / SF:
    $894/SF
    Added:
    May 5, 2026
    Days on Market:
    17
    Last Refresh:
    May 21 at 6:06 pm

    Property Features for SANTA CRUZ

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Res
    Bedrooms
    5
    Rooms
    Bedroom 2, Bedroom 5, Bedroom 4, Bedroom 1, Bedroom 3
    Parking features
    Off Street, Covered, Assigned, Garage - Attached
    Interior features
    High Ceiling, Vaulted Ceiling
    Appliances
    Countertop - Ceramic, Countertop - Tile, Dishwasher, Exhaust Fan, Garbage Disposal, Hood Over Range, Oven Range, Pantry Cabinet, Refrigerator
    Standard status
    Active
    Size
    3,520 SF
    Lot size
    0.21 Acres

    Utilities

    Heating system
    Electric (Heating)
    Water source
    Public

    Building Details

    Year built
    1979
    Number of units
    2
    Flooring type
    Laminate
    Roof type
    Composition, Shingle

    We can help!

    Listing Contact
    Tommy Ligon

    Listing agent Tommy Ligon License #01449570

    Listing office Bailey Properties 1602 Ocean St., Aptos, CA

    Listing date May 5, 2026

    MLS# ML82043847 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

    • Prime location: Just one block from the ocean and West Cliff Drive, near Lighthouse Field State Beach and Steamer Lane Supply.
    • Large duplex with strong rental income potential.
    • Two units: a 3BD/2BA upper unit and a 2BD/2BA lower unit with bonus room.
    • Each unit has a private 2‑car garage, a rare amenity near the coast.
    • Upper unit features a private yard with a jetted hot tub.
    • Flexible income strategies: rent both units (short or long term), or live in one and rent the other.

    Overview

    This coastal investment opportunity is located on Santa Cruz's Lower Westside, one block from the ocean and West Cliff Drive, and steps from Lighthouse Field State Beach and Steamer Lane Supply restaurant. The property is one of the largest duplexes near the ocean, featuring a 3-bedroom, 2-bathroom upper unit and a 2-bedroom, 2-bathroom lower unit with a bonus room that functions as a third bedroom. Each unit includes a private 2-car garage. The upper unit has a private yard with a jetted hot tub. The property is suitable for rental for strong cash flow, short-term or long-term rental, or owner-occupancy of one unit while renting the other. Tenants have easy access to downtown Santa Cruz, the Santa Cruz Wharf, and the Santa Cruz Beach Boardwalk, as well as coastal and mountain biking trails. The property has a lot size of 0.207 acres and a property size of 3520 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Santa Cruz
    County
    Santa Cruz
    State
    Longitude
    -122.033501
    Latitude
    36.954143

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    FAQs

    What type of property is this?
    Duplex - Rare duplex near the ocean with strong rental income potential.
    Where is this duplex located?
    The property is located at SANTA CRUZ Santa Cruz.
    What is the asking price?
    The asking price for this property is $3,150,000.
    What are key features of this property?
    This property features: Prime location: Just one block from the ocean and West Cliff Drive, near Lighthouse Field State Beach and Steamer Lane Supply.; Large duplex with strong rental income potential.; Two units: a 3BD/2BA upper unit and a 2BD/2BA lower unit with bonus room.
    (831) 331-7828
    We can help!
    Listing Contact
    Tommy Ligon
    Real Estate License ID: 01449570
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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