505-507 Hanover St

Santa Cruz, CA 95062

$1,799,000
Price
—
Beds
—
Baths
1,840 Sq. Ft.
$978 / Sq. Ft.
1,840
Sq. Ft.
$978
per Sq. Ft.
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Open: 7/19 01:00PM - 04:00PMVirtual Tour
Open: 7/19 01:00PM - 04:00PMVirtual Tour
a front view of a house with garden
an aerial view of a city

Description

Santa Cruz duplex buyers searching for a move-in-ready income property with no deferred maintenance and a single-family home feel - this is the one. Finding a duplex that has been genuinely renovated, not just cosmetically refreshed, is one of the hardest searches in real estate. Updated surfaces, original bones. Aging galvanized pipes behind new paint. The fear of inheriting someone else's deferred maintenance is real, and it is expensive. THIS property is different. 505 and 507 are two 2-bed, 1-bath...Santa Cruz duplex buyers searching for a move-in-ready income property with no deferred maintenance and a single-family home feel - this is the one. Finding a duplex that has been genuinely renovated, not just cosmetically refreshed, is one of the hardest searches in real estate. Updated surfaces, original bones. Aging galvanized pipes behind new paint. The fear of inheriting someone else's deferred maintenance is real, and it is expensive. THIS property is different. 505 and 507 are two 2-bed, 1-bath units sharing a wall and have the same floor plan, both renovated, one side owner owner occupied, the other side tenant occupied at $3,500 rent p/month. The bones were addressed first: copper re-plumb, new central heating, tankless water heaters, and dual-pane windows. The work no one sees is exactly what was done. The kitchen in 505 was rebuilt -dove gray cabinetry, quartz countertops, subway tile to ceiling, soft-close drawers, recessed lighting on dimmers. Both bathrooms torn down to the studs. LifeProof LVP flooring. New doors, fixtures, and baseboards. The lot holds extra space for an ADU, workshop, or garden may be possible. Buyers to do due diligence. The infrastructure and amenities are what separates this property from the field.
  1. Listed by Brandi Jones • DRE #01385191 • Brokerage DRE #02283272 • KW Thrive Santa Cruz • 831-588-5145

Property Details for 505-507 Hanover Street

MLS City Name
SANTA CRUZ
Building Type
DUPLEX
Style
Bungalow, Craftsman
Garage Spaces
2
Parking Spaces
2
Cross Street
Cayuga

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Sunday, Jul 19th1:00 PM - 4:00 PM
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LISTING UPDATED: 07/13/2026 11:51 AM

Property Details for 505-507 Hanover Street

StatusActive
MLS #ML82049464
Days on Compass38
Taxes$21,225 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeRESIDENTIAL INCOME / DUPLEX
Year Built1976
Lot Size0.20 AC / 8,756 SF
CountySanta Cruz County
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Location

Listing Courtesy of KW Thrive Santa Cruz, Brandi Jones, DRE #01385191
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Building Information for 505-507 Hanover Street

Stories1Residences2Year Built1976Building Size-Lot Size0.20 AC / 8,756 SF

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$10,733 per month

30 year fixed, 6.36% Interest

Principal and Interest

$8,965

Property Taxes

$1,769

HOA Dues

$0

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Property Information for 505-507 Hanover Street

Features
External Links
Features
  • Fireplace: No
  • Living SqFt: 1840
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Central Forced Air
  • Meters: Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Water: Public
Carport and Parking
  • Carport Min: 0
Garage
  • Garage and Parking: Detached Garage, On Street
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Area Text: East Santa Cruz
  • Roof: Composition
  • Subclass: Duplex
  • Year Built Source: Assessor
  • Street Number: 505 - 507
  • Street Name: Hanover
  • Street Suffix: Street
  • Area ID: 42
Lot / Property Details
Building Information
  • Number Of Stories: 1
  • Number of Buildings: 1
  • Structure SqFt: 1840
  • Structure SqFt Source: Other
  • Age: 50
Development Information
  • Ownership Type: Individual
  • Zoning Detail: R
Location Information
  • City Limits: Yes
  • Incorporated: Yes
  • Parcel Number: 010-081
  • County Name: Santa Cruz
  • City Name: SANTA CRUZ
  • City Postal ID: 64
  • Postal Code: 95062
  • Elementary School District: 840
  • High School District Text: Santa Cruz City Elementary
Lot Information
  • Foundation: Concrete Slab
  • Horse Property: No
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
Building Information
  • No Of Leased: 1
General Information
  • Annual Tax Amount: $21,225
  • Building Unit Total: 2
  • Capitalization Rate: .73
  • Tenant Expenses: Services - Sewer, Utilities - Electric, Utilities - Gas, Utilities - Heating, Utilities - Water
  • Income Includes: Parking, Rents, Storage Area
  • Vacancy Factor: 0
Income / Expense Details
  • Expense Insurance: $1,800
  • Expense Landscape: $2,400
  • Expense Maintenance: $500
  • Expense Management: $0
  • Expense Trash: $780
  • Expenses Other: $0
  • Expenses Utility: $2,170
  • Expenses Total: $28,875
  • Operating Expenses Include: Maintenance - Repair
  • Gross Rent Multiplier: 42.83
  • Income Annual Gross: $42,000
  • Income Annual Rental: $42,000
  • Income Gross Scheduled: $42,000
  • Income Other: $0
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Rent: $0
Unit 2 Information
  • Unit 2 Approx Square Footage: 920
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 2
  • Unit 2 Rent: $3,500
Unit Type 1
  • Unit Type1 Approx SqFt: 920

Property History for 505-507 Hanover Street

DateEvent & SourcePriceAppreciation
Jun 10, 2026

Listed (Active)

MLSListings #ML82049464

$1,799,000—
Jun 10, 2026

Listed (Active)

EBRD #ML82049464

$1,799,000—
Jun 2, 2026

Listed (Active)

MLSListings #ML82049464

—
DateEvent & SourcePrice
06/10/2026

Listed (Active)

MLSListings #ML82049464

$1,799,000
06/10/2026

Listed (Active)

EBRD #ML82049464

$1,799,000
06/02/2026

Listed (Active)

MLSListings #ML82049464

—

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools near 505-507 Hanover Street

This home is within Santa Cruz City High School District.
Rating
School
Type
Grades
Distance
De Laveaga Elementary School
Public - K to 5
Mission Hill Middle School
Public - 6 to 8
Santa Cruz High School
Public - 9 to 12
Soquel High School
Public - 9 to 12
Rating
School
Distance
De Laveaga Elementary School
PublicK to 5

Mission Hill Middle School
Public6 to 8

Santa Cruz High School
Public9 to 12

Soquel High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 505-507 Hanover Street, Santa Cruz, CA 95062

505-507 Hanover Street is a multi-family home for sale in Santa Cruz, CA 95062. This property was listed for sale on June 2, 2026 by KW Thrive Santa Cruz, it's currently listed at $1,799,000. This listing's school districts are Santa Cruz City High School District, Santa Cruz City Elementary School District. Nearby schools include De Laveaga Elementary School, Mission Hill Middle School and Santa Cruz High School. 505-507 Hanover Street is a 0-bed, 0-bath, 1,840 sqft multi-family home built in 1976.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of KW Thrive Santa Cruz, Brandi Jones, DRE #01385191

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.