318 Lee Street, Santa Cruz, California 95060, Santa Cruz, 95060 - 3 bed, 3 bath
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318 Lee Street
Santa Cruz, California 95060
ACTIVE
CONDITION: FAIR
3Beds
3Baths
2,153Sq Ft
6,011Lot Size
Property Price
LIST PRICE$1,250,000
EST. MARKET VALUE
$1,300,000
3% BelowMARKET VALUE
SUMMARY
This 3-bedroom, 3-bath Single Family Residence is a Strong Value Opportunity, listed at $1,300,000—positioned well above the $1,175,761 Fair Market Value by -10%. While the property requires cosmetic updates given its Condition Rating of 4, the 2,153 sqft floor plan and ground-level bonus room offer significant versatility. Backing up to wooded open space along Branciforte Creek, the home provides a peaceful setting near UCSC. This property is an ideal acquisition for Owner-Occupants seeking a customizable home or Buy-and-Hold Investors.
Estimated Market Value
$1,300,000+$50,000 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Santa Cruz.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1981, the home is clean and functional but shows its age with dated interior finishes. The kitchen features older oak cabinetry and tile countertops, the bathrooms have dated vanities, and popcorn ceilings are present. While the exterior includes modern solar panels, the interior requires cosmetic updates to be considered modern.
PROSSTRENGTHS & OPPORTUNITIES
- Versatile Living Space
The 2,153 sqft floor plan includes a spacious ground-level bonus room, offering excellent flexibility for a home office, guest suite, or potential rental income.
- Strategic Commuter Location
Situated on a quiet no-through street with easy access to Highway 17, this location allows residents to bypass major traffic bottlenecks like the 'Fishhook' while remaining close to UCSC and downtown.
- Private Natural Setting
Backing up to open space along Branciforte Creek, the property provides a rare sense of privacy and a peaceful outdoor environment within an urban coastal setting.
CONSRISKS & DEFICIENCIES
- Dated Infrastructure
Built in 1981, the home may require significant cosmetic updates or system modernizations to meet the expectations of buyers looking for contemporary finishes.
- Market Stagnation
With 35 days on the market at its original list price, the property is trending toward a longer-than-average listing period, which may affect its perceived value to new buyers.
About 318 Lee Street
Buyer incentive! Seller is offering a credit to help buy down your interest rate and lower your monthly payment. Investors- this is the best deal in Santa Cruz for a home of this size and has been a lucrative income producing property for 10 years. This versatile 3-bedroom (plus ground level bonus room), 2.5-bath home offers an exceptional blend of privacy, and convenience. Enjoy being just minutes from Downtown dining and shopping, UCSC, the Santa Cruz Beach Boardwalk, Main Beach, and Highway 17, with the local advantage of skipping the Fishhook and getting home faster. The flexible floorplan lives like a four bedroom home with endless possibilities. The roomy family room, brick fireplace, and expansive deck create inviting spaces to relax, gather, and entertain. Backing up to open space along Branciforte Creek, the property enjoys a peaceful, private setting while remaining remarkably close to urban amenities, beaches, and major commute routes. Whether you're looking for a primary residence, a flexible home with room to grow, a convenient home base for college students, or a desirable income-producing property, this home offers a rare combination of location, versatility, and lifestyle.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1981
- Lot Size
- 6,011 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 3 (3 Full, 0 Half)
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 |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 3.0 | 2.2 |
| Square foot | 2,153 | 1,703.516 |
| Lot Size | 6,011 | 6,974.558 |
| Price | $1.25M | $1.64M |
| Price per sq ft | $581 | $944 |
| Built year | 1981 | 1972 |
| HOA | $0 | $984 |
| Days on market | 66 | 43 |
Pricing History
Listed for Sale
Oct 4, 2026
$1,250,000
$1,300,000
-4% Price Drop
Initial Listing
Price Change
Aug 19, 2026
$1,300,000
Initial Listing
Sold
Jun 30, 2015
$702,500
Public Record
Sold
Jul 9, 1997
$275,000
Public Record