Listings
247 High ST, Santa Cruz, CA 95060
Approved Development for Seven (7) Unit Luxury Apartment Building. Fully-entitled project consists of five (5) 2BR/2BA + Offices and two (2) 1BR/1BA units including an 1-BR Affordable Unit for a total 12 Bedrooms (17 Rooms/Occupants) and 12 Bathrooms in a stunningly beautiful, all-electric, luxury multifamily design complete with EV charges, security gates, community patio and BBQ area, pet washing station, and secured individual tenant storage lockers for surfboard, bikes, etc. The design is modeled after an adjacent building previously owned by the Seller located at 251 High St which had an 8.7% Avg Annual Rental Rate Growth and an actual Vacancy Factor of less than 0.5% (2015 - 2022) which was recently sold for $6,650,000 or $665,000/Unit and $475,000/Room with a 3.88% Cap Rate and 18.63 GRM. The location is ideally situated on UCSC Bus Line, and close proximity to Downtown Santa Cruz, Google Analytics, and Joby Aviation - all of which are the target demographic of future tenants.
Features
| Fencing | Complete Perimeter |
| Horse Property | No |
| Listing Class | Residential Lots & Land |
| Sewer Septic | Sewer - Public, Sewer Connected |
| Subclass | Residential Development Land |
| Utilities | Electricity - On Site, Gas - On Site, Public Utilities |
| View | Bay, City Lights, Greenbelt, Ridge |
| Water | Public, Water On Site |
Community Info
Local Schools | |
Local Utilities | Recreation |
Restaurants | Home and Garden |
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Updated on 10/31/2024
Property Information
- MLS:
- ML81944584
- Type:
- Residential Development Land
- Listed:
- 10/10/2023
- Sold Date:
- 5/10/2024
- Lot Size:
- 6,938
- Schools:
- GS Dist: Santa Cruz City Elementary District
HS Dist: Santa Cruz City High District
 | LP: $1,499,000 Santa Cruz,95062 |
SP: $1,643,250 LP: $1,700,000 Santa Cruz,95062 |
 | SP: $1,625,000 LP: $1,549,000 Santa Cruz,95060 |
All information furnished regarding property for sale, rental, comparables or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice.