136 Market Street, Santa Cruz, California 95062, Santa Cruz, 95062 - bed, bath
136 Market Street
Santa Cruz, California 95062
Property Price
SUMMARY
Analysis of 136 Market Street, Santa Cruz, California 95062 is currently available with a list price of $1,945,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Santa Cruz Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
The property, built in 1976, has received significant recent updates to major systems (roof, exterior paint, water heaters, sewer/water mains) and some interior flooring. However, the kitchens and bathrooms, while clean and functional, feature dated cabinets, countertops, and tile, indicating they have not undergone extensive renovation in the last 15-30 years. Some appliances are newer, but the overall aesthetic of these key areas shows signs of being outdated, aligning with the 'fair' condition criteria.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Investment Opportunity
This triplex is highlighted as an 'Outstanding rental property investment opportunity' with 'upside potential' and 'long-term value appreciation,' particularly due to below-market rents offering immediate cash flow improvement potential upon tenant turnover.
- Exceptional Location
Ideally situated in central Santa Cruz, near the rapidly growing downtown area, it boasts a 'Very walkable and Bikers Paradise' rating with easy access to essential amenities, entertainment, and transportation, ensuring high tenant demand.
- Extensive Recent Improvements
The property has undergone 'many recent improvements,' including a newer roof, exterior paint, sewer lateral, water main, water heaters, and interior flooring updates, significantly reducing immediate capital expenditure for a new owner.
CONSRISKS & DEFICIENCIES
- Age of Property
Built in 1976, despite numerous recent updates, the underlying structure and potentially some older systems may still present future maintenance considerations or require eventual capital improvements beyond the recent renovations.
- Current Below-Market Rents
While an opportunity for upside, the current 'below market rents' mean the property is not yet generating its maximum potential income, requiring active management, potential tenant turnover, and rent adjustments to optimize cash flow.
- Limited Specific Interior Unit Details
The description mentions 'interior flooring updates' but lacks specific details on other interior aspects of the units (e.g., kitchens, bathrooms, appliances beyond water heaters), which might require further investment to command top-tier market rents.
About 136 Market Street
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!
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1976
- Lot Size
- 9,409 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 2,250 | 2,250 | 50% |
| Lot Size | 9,409 | 6,752 | 60% |
| Price | $1.95M | $1.95M | 50% |
| Price per sq ft | $864 | $864 | 50% |
| Built year | 1976 | 1967 | 80% |
| HOA | $0 | $0 | 50% |
| Days on market | 94 | 159 | 40% |
Pricing History
Listed for Sale
Feb 3, 2026
$1,945,000
$1,995,000
-3% Price Drop
Initial Listing
Price Change
Dec 3, 2025
$1,995,000
Initial Listing