317 Ocean Street

Santa Cruz, CA 95060

$2,075,000
Last Sold Price
Beds
3,136 Sq. Ft.
$662 / Sq. Ft.
3,136
Sq. Ft.
$662
per Sq. Ft.

Description

Investor Opportunity! Check out this 7-unit Investment property and approx. 300SF finished "attic" space with all units rented, generating steady cash flows for strong cap rate. Great mix of units comprising of (One) 2 bedroom/1 bath; (Five) 1 bedroom/1 bath; and (One) large studio unit. Several upgrades made in the last 2 years including a new roof, remodeled downstairs unit, and newer asphalt parking area with 9 off-street parking spots. The property is in a prime location with convenient access...Investor Opportunity! Check out this 7-unit Investment property and approx. 300SF finished "attic" space with all units rented, generating steady cash flows for strong cap rate. Great mix of units comprising of (One) 2 bedroom/1 bath; (Five) 1 bedroom/1 bath; and (One) large studio unit. Several upgrades made in the last 2 years including a new roof, remodeled downstairs unit, and newer asphalt parking area with 9 off-street parking spots. The property is in a prime location with convenient access to most everything the community has to offer. Close proximity to Downtown Santa Cruz, Boardwalk, beaches, and the desirable Seabright neighborhood nearby. UCSC is also just a bus ride or bike ride away. There are few properties that offer investors opportunity comparable to this! Check out the drone tour: https://youtu.be/cuy1mX4Dj_g
  1. Listed by Cara De Simone • DRE #01215427 • Brokerage DRE #01908304 • Coldwell Banker Realty • 831-465-7029

Property Details for 317 Ocean Street

MLS City Name
SANTA CRUZ
Building Type
Other
Garage Spaces
0
Parking Spaces
9
View
City, City Lights
Cross Street
Barson St.

Location

Listing Courtesy of Coldwell Banker Realty, Cara De Simone, DRE #01215427

Sold By Compass, Yamina Wu, DRE #01989174

Add your commute
LISTING UPDATED: 03/27/2024 11:48 AM

Property Details for 317 Ocean Street

StatusSold
MLS #ML81884536
Days on Compass1
Taxes$18,368 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1908
Lot Size0.17 AC / 7,275 SF
CountySanta Cruz County

Location

Listing Courtesy of Coldwell Banker Realty, Cara De Simone, DRE #01215427

Sold By Compass, Yamina Wu, DRE #01989174

Add your commute

Virtual Tour

Building Information for 317 Ocean Street

Stories-Residences-Year Built1908Building Size-Lot Size0.17 AC / 7,275 SF

Payment Calculator

$12,855 per month

30 year fixed, 7.25% Interest

Principal and Interest

$11,324

Property Taxes

$1,531

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 317 Ocean Street

Features
Features
  • Fireplace: No
  • Living SqFt: 3136
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Gas
  • Meters: Master Electric, Master Gas
  • Sewer Septic: Sewer - Public, Sewer Connected, Sewer in Street
  • Utilities: Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 0
Garage
  • Garage and Parking: Assigned Spaces, No Garage, Uncovered Parking
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Exterior: Masonry
  • Min Num Of Units in Complex: 7
  • Area Text: East Santa Cruz
  • Restrictions: None
  • Roof: Composition
  • Stories: 0.0
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 317
  • Street Name: Ocean
  • Street Suffix: Street
  • Area ID: 42
Lot / Property Details
Building Information
  • Number of Buildings: 2
  • Structure SqFt: 3136
  • Structure SqFt Source: Assessor
  • Age: 114
Development Information
  • Construction Type: Masonry
  • Ownership Type: Limited Partnership
  • Zoning Detail: Multi-res/Apt. 5-10 units
Location Information
  • City Limits: Yes
  • Directions: From East Cliff turn on Ocean St. and property will be on the left side near Barson cross St. From Soquel or Broadway take Ocean St. and property is on right hand side. No sign on property.
  • Incorporated: Yes
  • Parcel Number: 007-403-17-000
  • County Name: Santa Cruz
  • City Name: SANTA CRUZ
  • City Postal ID: 64
  • Postal Code: 95060
  • Elementary School District: 840
  • High School District Text: Santa Cruz City High
Lot Information
  • Foundation: Concrete Perimeter, Concrete Perimeter and Slab
  • 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: 7
General Information
  • Annual Tax Amount: $18,368
  • Capitalization Rate: 5.03
  • Tenant Expenses: None
  • Income Includes: Rents, Storage Area
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $5,600
  • Expense Landscape: $1,893
  • Expense Maintenance: $7,983
  • Expense Management: $0
  • Expense Trash: $240
  • Expenses Other: $400
  • Expenses Utility: $15,083
  • Expenses Total: $49,567
  • Operating Expenses Include: Insurance, Maintenance, Other
  • Gross Rent Multiplier: 13.30
  • Income Annual Gross: $160,050
  • Income Annual Rental: $165,000
  • Income Gross Scheduled: $165,000
  • Income Other: $0
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 1
  • Unit 1 Rent: $1,800
  • Unit 1 Type: Apartment
Unit 2 Information
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 2
  • Unit 2 Rent: $2,300
  • Unit 2 Type: Apartment
Unit 3 Information
  • Unit 3 Full Bathrooms: 1
  • Unit 3 Rent: $1,600
  • Unit 3 Type: Studio
Unit 4 Information
  • Unit 4 Approx Square Footage: 300
  • Unit 4 Rent: $600
  • Unit 4 Type: Apartment
Listing Info
Rental Info
  • Lease Type: Net

Property History for 317 Ocean Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 317 Ocean Street

Taxable ValueLand$1,275,000Additions$800,000Total$2,075,000
Tax Record2023$23,565 ($1,964 / month)
Home Facts
Total Finished SqFt1,237 SqFtAbove Grade Finished SqFt1,237 SqFtLot Size7,275 SqFtStyleMulti-Family Res (5+ Units)Year Built1908Year Renovated2000CountySANTA CRUZAPN007-403-17

Schools near 317 Ocean Street

This home is within Santa Cruz City High School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Gault Elementary School
PublicK to 5

Mission Hill Middle School
Public6 to 8

Harbor High School
Public9 to 12

Santa Cruz 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.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Realty, Cara De Simone, DRE #01215427

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.