Santa Cruz Multifamily Investment
SANTA CRUZ, Santa Cruz 95062
MULTI_FAMILY - SANTA CRUZ
Property size:
4,991 SFLot size:
0.32 AcresPrice / SF:
$450/SF- Added:
- Apr 23, 2026
- Days on Market:
- 29
- Last Refresh:
- May 21 at 6:06 pm
Property Features for SANTA CRUZ
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RM-3
- Bedrooms
- 8
- Rooms
- Bedroom 2, Bedroom 5, Bedroom 8, Bedroom 3, Bedroom 4, Bedroom 6, Bedroom 1, Bedroom 7
- Parking
- 4
- Parking features
- Covered, Offsite
- Interior features
- Walk-in Closet
- Appliances
- Cooktop - Electric, Countertop - Laminate, Dual Fuel, Garbage Disposal, Hood Over Range, Oven - Built-In, Oven - Electric, Refrigerator
- Standard status
- Active
- Size
- 4,991 SF
- Lot size
- 0.32 Acres
Utilities
- Heating system
- Wall Furnace, Electric (Heating)
Building Details
- Year built
- 1966
- Number of units
- 4
- Flooring type
- Carpet
- Building materials
- Wood
- Roof type
- Composition
- Architectural style
- Other
Listing agent Paul Bailey License #00546781 (831) 818-0406
Listing office Bailey Properties 9119 Soquel Dr, Aptos, CA (831) 688-7434
Listing date Apr 23, 2026
MLS# ML82030395
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
- Potential to expand from a 4‑plex to a 6‑plex with the possibility of adding 2 modular units, supported by a Land Use Planner's report and surveyed building envelopes.
- Central location near 41st Avenue shopping and entertainment, Simpkins Swim Center, and a short drive to the beach.
- All 4 kitchens and bathrooms have been remodeled, indicating a well‑maintained property.
- Pest Inspection Clearance, providing assurance regarding the property's condition.
- SB 721 work completed on the 2nd‑floor balcony and access, addressing safety and compliance.
- Located on a large parcel in a quiet neighborhood.
Overview
This fourplex, located in a central location, presents an opportunity for investors. The property is situated close to 41st Avenue, offering convenient access to shopping and entertainment options. Simpkins Swim Center is also nearby. A short drive will take you to the beach. The property is located on a large parcel in a quiet neighborhood. A Land Use Planner report suggests the possibility of adding two modular single-level units. The parcel has been surveyed, and building envelopes have been identified. The property has been well-maintained, with all four kitchens and bathrooms having been remodeled. A pest inspection clearance has been obtained. All SB 721 work has been completed on the second-floor balcony area and access. The property has the potential to be a sixplex.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$1.55M
NOI $139,150 @ 9.00% cap · cautious / downside scenario
Moderate
$1.99M
NOI $139,150 @ 7.00% cap · market / base-case scenario
Aggressive
$2.78M
NOI $139,150 @ 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 Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $203.6k | $40.80 |
| − Vacancy | −$4.8k | −$0.97 |
| EGI | $198.8k | $39.83 |
| − OpEx | −$59.6k | −$11.95 |
| NOI | $139.2k | $27.88 |
4,991 SF · lease $40.80/SF/yr · vacancy 2.38% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$1.99M
$1.74M – $2.32M
NOI $139,150 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$1.84M
$1.61M – $2.14M
NOI $128,468 @ 7.0% cap · market cap 5.71%
Theoretical Best
Retail
$2.85M
$2.50M – $3.33M
NOI $199,770 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Quadplexes
Map
- City
- Santa Cruz
- County
- Santa Cruz
- State
- Longitude
- -121.978594
- Latitude
- 36.976818
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Fourplex with potential to expand, close to amenities and beach.
Where is this quadplex located?
The property is located at SANTA CRUZ Santa Cruz.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Potential to expand from a 4‑plex to a 6‑plex with the possibility of adding 2 modular units, supported by a Land Use Planner's report and surveyed building envelopes.; Central location near 41st Avenue shopping and entertainment, Simpkins Swim Center, and a short drive to the beach.; All 4 kitchens and bathrooms have been remodeled, indicating a well‑maintained property.
