116 W Cliff Drive, Santa Cruz, California 95060, Santa Cruz, 95060 - bed, bath

116 W Cliff Drive, Santa Cruz, California 95060 home-pic-0
ACTIVE$1,600,000
116 W Cliff Drive, Santa Cruz, California 95060
0Bed
0Bath
2,151Sqft
5,009Lot
Year Built
1900
Close
-
List price
$1.6M
Original List price
$1.6M
Price/Sqft
$744
HOA
-
Days on market
-
Sold On
-
MLS number
ML82028659
Home ConditionPoor
Features
Excellent View: Ocean
ViewOcean

About this home

We found 4 Cons,5 Pros. Rank: price - $1.60M(80th), sqft - 2151(60th), beds - undefined(50th), baths - undefined(50th).

Location, location, location! Santa Cruz classic located on iconic West Cliff Dr, this four-unit property has tremendous income potential at full occupancy and is available for the first time in decades. With three units in the main structure and a detached unit with very low vacancy rates, the income stream on this investment property is reliably high. Vintage charm mixed with modern upgrades in some of the units leaves room for value-add potential and provides comfortable housing for those seeking coastal living. One short block from the Boardwalk, the Wharf, Main Beach, Depot Park, and The Dream Inn, and conveniently close to many area shops, restaurants, and amenities. Agents, please see private remarks.

Price History

Date
Event
Price
12/09/25
Listing
$1,600,000
Condition Rating
Poor

Built in 1900, this property is over a century old. While the description mentions 'modern upgrades in some of the units,' the visible kitchen in the images is extremely dated, featuring basic white painted cabinets, older white appliances (gas range, refrigerator), simple tile backsplash, and what appears to be older vinyl or linoleum flooring. This kitchen would require a complete gut renovation to meet current standards. No bathroom images are provided, but given the kitchen's condition, it's unlikely they are significantly better. The property's age strongly suggests that major systems (electrical, plumbing) are likely very old and would require substantial rehabilitation or replacement. The 'inconsistent unit modernization' and 'value-add potential' noted in the weaknesses further indicate that significant investment is needed across the property to bring it up to a desirable condition, aligning with the 'poor' category's requirement for substantial repairs and rehabilitation.
Pros & Cons

Pros

Iconic Coastal Location: Situated on iconic West Cliff Drive, the property offers unparalleled access to Santa Cruz's main attractions like the Boardwalk, Wharf, and Main Beach, enhancing desirability and rental appeal for tenants seeking coastal living.
Strong Income Potential: As a four-unit quadruplex with a proven track record of very low vacancy rates and reliably high income, this property presents a robust and diversified investment opportunity.
Value-Add Opportunity: The blend of vintage charm with modern upgrades in some units suggests significant potential for an investor to further enhance and modernize the remaining units, increasing rental value and overall equity.
Rare Market Offering: Available for the first time in decades, this property represents a unique and highly sought-after opportunity in a prime Santa Cruz location, indicating potential for strong demand.
Ocean View: The property boasts an ocean view, adding significant aesthetic and market value, aligning with the desirable coastal living experience and attracting premium tenants.

Cons

MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 2151, other record living area = 1344.
Advanced Age of Structure: Built in 1900, the property is over a century old, which may lead to higher ongoing maintenance costs, potential for outdated systems (plumbing, electrical), and the need for significant capital expenditures in the future.
Inconsistent Unit Modernization: The description notes 'modern upgrades in some of the units,' implying that not all units are fully updated, which could necessitate further investment to achieve consistent quality and maximize rental income across all four units.
Limited Financial Transparency: While income potential is highlighted, the absence of specific current rental income figures, operating expenses, or detailed vacancy rates for each unit makes a precise financial analysis challenging for potential investors.

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