257 High Street, Santa Cruz, California 95060, Santa Cruz, 95060 - 0 bed, 0 bath
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Santa Cruz, California 95060
Analysis of 257 High Street, Santa Cruz, California 95060 is currently available with a list price of $2,480,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. 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.
Property is move-in ready.
Although the building was constructed in 1953, the interior images reveal recent renovations (likely <5 years) featuring modern white shaker cabinetry, stone countertops, and updated fixtures in the kitchens and bathrooms. The property is well-maintained with updated systems, including new water heaters (2025), though the exterior shell and windows reflect the building's original age.
Situated steps from the UCSC bus line and near downtown, this property benefits from a high-demand rental market with consistent occupancy from students and faculty.
The spacious 950 sqft units offer the potential to convert 2-bedroom layouts into 3-bedroom configurations, significantly increasing monthly rental income and overall asset value.
Generating approximately $186,000 in annual gross income with a stable rental history, the property provides immediate strong returns and qualifies for DSCR financing.
Originally built in 1953, the property may necessitate higher long-term maintenance costs or modernization of older systems beyond the recently replaced water heaters.
While off-street parking is available, the ratio of spaces to potential residents may become a challenge if units are converted to higher-occupancy 3-bedroom layouts.
Rare UCSC-area investment opportunity in one of Santa Cruz's strongest rental markets. Ideally located steps from the UCSC bus line, this professionally managed, fully occupied fourplex is well suited for UCSC students, faculty, and staff. Residents enjoy easy access to campus, Downtown Santa Cruz, West Cliff Drive, and the Santa Cruz Beach Boardwalk, all just 1.5 miles from the ocean. The property features 4 spacious 2-bedroom, 1-bath units, each approximately 950 square feet, totaling 8 bedrooms and 4 bathrooms across approximately 3,800 square feet. Floor plans may offer potential for conversion to 3-bedroom configurations for increased income. Comparable 3-bedroom rentals near UCSC may command approximately $4,500-$5,500 per month. Buyer to verify feasibility. Amenities include on-site laundry, separate gas meters, 2 carports, 4 additional off-street parking spaces, and abundant street parking. New water heaters were installed in 2025. The property offers strong rental history, stable cash flow, and generates approximately $186,000 in annual gross income. Potential DSCR financing available.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 3,978 | 1,920 |
| Lot Size | 5,619 | 2,439 |
| Price | $2.48M | $2.21M |
| Price per sq ft | $623 | $771 |
| Built year | 1953 | 1972 |
| HOA | $0 | $0 |
| Days on market | 2 | 62 |
Jul 21, 2026
$2,480,000
Initial Listing
Sep 12, 2022
$1,990,000
Public Record