136 Market Street, Santa Cruz, California 95062, Santa Cruz, 95062 - 0 bed, 0 bath
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Santa Cruz, California 95062
This Well-Maintained Residential Income Triplex enters the market at $1,895,000, aligning closely with its $1,854,838 Fair Market Value. Boasting a Condition Rating of 3, the property features significant capital improvements including a newer roof, updated sewer lateral, and fresh exterior paint, ensuring a turnkey transition for the next owner. Each unit offers a private patio and a rare two-car garage, providing lifestyle perks that drive high tenant demand in this walkable downtown location. With rents currently positioned below market, the asset offers a clear path to increased ROI through strategic turnover. This is an ideal opportunity for Buy-and-Hold Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 136 Market Street Subject | $1,895,000* List Price | 0 | 0 | 2,250 | $824 | - |
A 621 Sumner Street Pending | $1,495,000 List Price | 0 | 0 | 1,910 | $783 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and well-maintained with significant recent capital improvements, including a newer roof, exterior paint, and updated interior flooring. While the kitchen cabinetry and interior doors retain an older 1970s aesthetic, the major systems (sewer lateral, water main, and water heaters) have been recently replaced, and the appliances are functional and updated, meeting the criteria for a well-maintained property within its expected lifespan.
Situated in a highly walkable and bikeable area near downtown Santa Cruz, Whole Foods, and local beaches, ensuring high tenant demand and long-term desirability.
Recent upgrades including a newer roof, exterior paint, sewer lateral, and water main replacements significantly reduce near-term maintenance costs and capital expenditure for a new owner.
With current rents positioned below market rates, there is a clear opportunity to increase cash flow and property valuation through strategic rent adjustments upon tenant turnover.
Multiple price reductions since the initial listing suggest the property may still be searching for its market value or facing resistance at the current price point.
Built in 1976, the property may require ongoing updates to meet modern energy efficiency standards or aesthetic preferences compared to newer residential income developments.
Outstanding rental property investment opportunity in central Santa Cruz! Well maintained triplex with many recent improvements, highly desirable two-bedroom apartments, and a strong rental history. Ideally located near the rapidly growing downtown area with a Very walkable and Bikers Paradise Offers easy access to restaurants, shops, Whole Foods Market, Highway 1, the pier, Boardwalk, and beaches. Each unit has a private outdoor patio area and rare attached two-car garage that provides ample options for off-street parking, storage, and bonus living space. Below market rents compared to current Zillow rental rates provide an opportunity to improve cash flow and property value by raising rents to market rates upon tenant turnover. Upside potential, lower operating expenses due to improvements, and the potential for long-term value appreciation make this an excellent investment opportunity in a prime Santa Cruz location. Recent improvements include a newer roof, exterior paint job, sewer lateral replacement, water main replacement, newer water heaters, and interior flooring updates. Triplexes in Santa Cruz with this excellent condition, desirability, and long-term stability are rare in Santa Cruz. Don't miss this opportunity!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,250 | 2,250 | 50% |
| Lot Size | 9,409 | 6,752 | 67% |
| Price | $1.90M | $1.90M | 50% |
| Price per sq ft | $842 | $842 | 50% |
| Built year | 1976 | 1969 | 67% |
| HOA | $0 | $0 | 50% |
| Days on market | 140 | 140 | 67% |
Mar 20, 2026
$1,895,000
$1,945,000
-3% Price Drop
Initial Listing
Feb 3, 2026
$1,945,000
$1,995,000
-3% Price Drop
Initial Listing
Dec 3, 2025
$1,995,000
Initial Listing