312 Ocean Street, Santa Cruz, California 95060, Santa Cruz, 95060 - 0 bed, 0 bath
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Santa Cruz, California 95060
This Triplex Income Asset is listed at $1,495,000, representing a stable acquisition at its $1,495,000 Fair Market Value. Currently holding a Condition Rating of 4, the 1938 infrastructure offers a clear path for forced appreciation through modernization and capital improvements. The substantial 6,752 Square Foot Lot near the Santa Cruz Beach Boardwalk provides exceptional utility for potential ADU expansion or footprint optimization. This multi-unit property is a strategic high-demand asset, perfectly suited for Buy-and-Hold Investors or Value-Add Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 312 Ocean Street Subject | $1,495,000* List Price | 0 | 0 | 2,159 | $692 | - |
A 122 Ocean Street Pending | $1,099,000 List Price | 0 | 0 | 1,300 | $845 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1938, this triplex appears to be maintained through regular upkeep but shows signs of aging infrastructure typical of its era. While the exterior features some cosmetic updates like the stone veneer wainscoting, the property likely requires modernization of electrical and plumbing systems to meet current standards. It fits the 'fair' criteria as an aged but functional property that is outdated compared to modern builds.
As a triplex in the high-demand Santa Cruz rental market, this property offers a versatile investment opportunity with the ability to generate multiple revenue streams from a single asset.
The property's location on Ocean Street provides excellent proximity to the Santa Cruz Beach Boardwalk and downtown, ensuring high desirability and low vacancy rates for potential tenants.
With a 6,752 square foot lot, the property offers more outdoor space than typical urban multi-family units, providing potential for future value-add improvements or ADU possibilities.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2159, other record living area = 1231.
Constructed in 1938, the property likely requires significant capital expenditures to modernize structural systems, electrical, and plumbing to meet current building standards.
An 83-day market duration combined with a recent price reduction indicates that the property may face challenges regarding its current valuation or condition relative to buyer expectations.
Exceptional opportunity in Santa Cruz. This spacious residence offers a versatile layout ideal for modern living. Situated on a quiet street in a highly desirable area.
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 | 2,159 | 2,964 | 33% |
| Lot Size | 6,752 | 6,752 | 50% |
| Price | $1.50M | $1.50M | 50% |
| Price per sq ft | $692 | $481 | 67% |
| Built year | 1938 | 1965 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 90 | 134 | 33% |
Apr 15, 2026
$1,495,000
$1,515,000
-1% Price Drop
Initial Listing
Jan 22, 2026
$1,515,000
Initial Listing
Nov 10, 2015
$610,500
Public Record
Feb 22, 1995
$195,000
Public Record