315 Ocean Street, Santa Cruz, California 95060, Santa Cruz, 95060 - 3 bed, 2 bath
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Santa Cruz, California 95060
This property presents a High-Potential Investment Opportunity with a List Price of $1,325,000, positioned slightly above the $1,299,242 Fair Market Value. While requiring a Condition Rating of 4, the asset features a large 7,405 sqft lot and a dual-unit configuration that provides immediate rental income potential. Its proximity to downtown Santa Cruz and UCSC ensures high tenant demand. This is a strategic acquisition for Buy-and-Hold Investors or Value-Add Developers capable of managing a multi-property acquisition alongside 311 Ocean Street.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 315 Ocean Street Subject | $1,325,000* List Price | 3 | 2 | 1,129 | $1,151 | - |
A 124 Coulson Avenue Sold | $1,180,000 | 3 | 2 | 1,146 | $1,030 | 0.9 mi |
B 33 Edgewood Way Sold | $1,350,000 | 3 | 3 | 1,510 | $894 | 0.8 mi |
C 336 Dakota Avenue Sold | $1,165,000 | 2 | 1 | 988 | $1,179 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1927, the property is significantly dated and requires 'TLC' as noted in the description. While the interior shows some past updates like laminate flooring and oak cabinetry (likely 15-25 years old), the exterior shows visible wear including peeling paint and weathered wood. The bathrooms and kitchens are functional but require modernization to meet current standards.
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.
Situated near downtown Santa Cruz, local beaches, and UCSC, this property offers exceptional convenience and high rental demand potential.
Currently configured as two separate units with dedicated parking, providing immediate rental income opportunities or flexible living arrangements.
The property requires significant 'TLC' and updates to reach its full potential, necessitating additional capital investment from the buyer.
The requirement to purchase this property alongside 311 Ocean Street limits the buyer pool to those capable of a multi-property acquisition.
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. Must be sold with 311 Ocean St Two adjacent properties are also available for sale: 419 Barson St.(ML81955565), 427 Barson Ideal for investors exchanging! Please do not disturb tenants!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,129 | 1,520 | 20% |
| Lot Size | 7,405 | 7,100 | 54% |
| Price | $1.32M | $1.36M | 46% |
| Price per sq ft | $1.2K | $894 | 77% |
| Built year | 1927 | 1974 | 9% |
| HOA | $0 | $0 | 50% |
| Days on market | 10 | 117 | 1% |
May 27, 2026
$1,325,000
Initial Listing
Nov 27, 2013
$2,975,000
Public Record