315 Ocean Street, Santa Cruz, California 95060, Santa Cruz, 95060 - 3 bed, 2 bath
ACTIVE$1,255,888
315 Ocean Street, Santa Cruz, California 95060
3Beds
2Baths
1,129Sqft
7,405Lot
Price Vs. Estimate
The estimated value ($1,145,842.375) is $110,045.625 (8%) lower than the list price ($1,255,888). This property may be overpriced.
Key pros and cons
Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7405, living area = 1129.
Top Cons:
Requires Renovation/TLC: The description explicitly states that 'With some TLC this place will really shine,' indicating that the property is in need of significant updates, repairs, or modernization.
Compared to the nearby listings
Price:$1.26M vs avg $1.50M ($-244,112)26%
Size:1,129 sqft vs avg 1,791.5 sqft15%
Price/sqft:$1.1K vs avg $91076%
More Insights
Built in 1927 (98 years old).
Condition: Built in 1927, this property is nearly a century old. The listing explicitly states that 'With some TLC this place will really shine,' indicating a need for substantial repairs, updates, and modernization. Without interior images, specific conditions of the kitchen, bathrooms, appliances, and systems cannot be assessed, but given the age and the 'TLC' comment, it's highly probable that major components are outdated, beyond their expected lifespan, and require significant rehabilitation to meet current standards for safety and comfort. The exterior image also suggests an older, un-renovated property.
Year Built
1927
Close
-
List price
$1.26M
Original List price
$1.32M
Price/Sqft
$1,112
HOA
-
Days on market
-
Sold On
-
MLS number
ML81977427
Home ConditionPoor
Features
View-
About this home
Price reduced and sold together with 311 Ocean! This single level Spanish style home exudes old world charm. Originally built as a 2 bedroom, 1 bath home. The home currently functions as 2 separate units. One unit is 1 bedroom with living room, kitchenette and 1 bath and the other unit is 2 bedrooms, 1 bath with kitchen. Parking area is in the back of the building and each unit has 1 parking spot. There is plenty of off-street parking. Check with the zoning office for potential uses. With some TLC this place will really shine. This is a great opportunity for the right buyer. Located close to downtown, beaches, transit, and UCSC. Three adjacent properties are also available for sale: 419 Barson St.(ML81977431), 427 Barson St., 311 Ocean St. (ML81977425). Ideal for investors exchanging! Please do not disturb tenants!
Condition Rating
Poor
Built in 1927, this property is nearly a century old. The listing explicitly states that 'With some TLC this place will really shine,' indicating a need for substantial repairs, updates, and modernization. Without interior images, specific conditions of the kitchen, bathrooms, appliances, and systems cannot be assessed, but given the age and the 'TLC' comment, it's highly probable that major components are outdated, beyond their expected lifespan, and require significant rehabilitation to meet current standards for safety and comfort. The exterior image also suggests an older, un-renovated property.
Pros & Cons
Pros
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7405, living area = 1129.
Prime Location: The property boasts an excellent location in Santa Cruz, close to downtown, beaches, public transit, and UCSC, enhancing its desirability and potential for appreciation.
Investor Opportunity & Income Potential: Currently configured as two separate units, this property is explicitly marketed as ideal for investors, offering immediate rental income potential and flexibility.
Portfolio Expansion Potential: The availability of three adjacent properties for sale (including 311 Ocean St. with this listing) presents a unique opportunity for a buyer to acquire multiple parcels for a larger investment or development project.
Unique Architectural Charm: The single-level Spanish style home exudes 'old world charm,' offering a distinctive aesthetic appeal that can attract specific buyer segments.
Ample Parking: The property provides a dedicated parking spot for each unit in the back, complemented by plenty of off-street parking, which is a significant advantage in urban areas.
Cons
Requires Renovation/TLC: The description explicitly states that 'With some TLC this place will really shine,' indicating that the property is in need of significant updates, repairs, or modernization.
Advanced Age of Property: Built in 1927, the property is nearly a century old, which may lead to outdated systems, higher maintenance costs, and potential for unforeseen age-related issues.
Recent Price Reduction: The property has undergone a recent price reduction from its original listing price, which could suggest a previous overvaluation or difficulty in attracting buyers at the initial price point.