247 High Street
Santa Cruz, CA 95060
- – beds
- – baths
- 6,938 sqft
- 6,938 sqft lot
- $234 per sqft
- – on site
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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.
Last checked:
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Last updated Feb 11, 2025
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MLS# ML81944584 —
The Building
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Building Area Units:Square Feet
Room Dimensions
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Living Area:6938
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Living Area Units:Square Feet
The Property
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Property Type:Land
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Property Subtype:Unimproved Land
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Parcel Number:00617102000
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Zoning:R-M
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Lot Features:Level
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Lot Size Area:0.16
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Lot Size Acres:0.16
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Lot Size SqFt:6938
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Lot Size Units:Acres
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View:Bay
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View:true
Listing Agent
- Contact info:
- Agent phone:
- (831) 706-6224
The Listing
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Listing Terms:Cash
Utilities
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Utilities:Electricity Connected
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Electric On Property:true
Schools
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High School District:Santa Cruz City High
The Community
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Association:false
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
3/30/24
Mar 30, 2024
|
CRMLS_CA | $1,549,000 | -18.3% | |
|
10/11/23
Oct 11, 2023
|
CRMLS_CA | $1,895,000 | ||
|
10/10/23
Oct 10, 2023
|
Listed / Active | BRIDGE | $1,895,000 | 180.7% (43.3% / YR) |
