319 Jessie Street, Santa Cruz, California 95060, Santa Cruz, 95060 - 3 bed, 2 bath
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Santa Cruz, California 95060
This Income-Generating Residential Asset is listed at $1,200,000, representing a stabilized entry into a supply-starved coastal market relative to its $1,110,859 Fair Market Value. The property delivers immediate financial utility with $4,800 in monthly gross rents and a Condition Rating of 4, featuring a functional 3-bed layout and a private patio. Beyond current cash flow, the RL zoning provides significant long-term upside for potential density increases or future development. This turnkey property is a strategic acquisition for Buy-and-Hold Investors or 1031-Exchange Buyers seeking reliable returns in East Santa Cruz.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 319 Jessie Street Subject | $1,095,000* List Price | 3 | 2 | 1,475 | $711 | - |
A 33 Edgewood Way Active Under Contract | $1,395,000 List Price | 3 | 3 | 1,510 | $924 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1979, the property is well-maintained as a functional rental but shows significant signs of age. The kitchen and bathrooms feature dated aesthetics, including tile countertops, older oak-style cabinetry, and basic white/black appliances rather than modern stainless steel. While the home is 'turnkey' for an investor, the presence of popcorn ceilings, older light fixtures, and mixed flooring suggests it has not undergone a comprehensive renovation in the last 15-20 years.
The property generates a reliable $4,800 monthly rental income with long-term tenants already in place, offering a turnkey investment with stabilized returns from day one.
The RL zoning provides a significant value-add opportunity, allowing for potential density increases or future development in a high-demand coastal market.
Situated in East Santa Cruz, the property benefits from a supply-starved market with historically low vacancy rates and strong long-term appreciation potential.
The shared driveway arrangement with the neighboring property at 315 Jessie St. may present privacy concerns or future maintenance coordination challenges.
Because the property is sold with long-term tenants in place, it is less attractive to owner-occupant buyers seeking immediate residency, potentially narrowing the pool of prospective purchasers.
319 Jessie St, Santa Cruz-Turnkey Cash Flow in a Supply-Starved Market. At $4,800/month in current rental income, this East Santa Cruz income property is already working for you from day one. Annualized, that's $57,600 in gross rents on a $1,200,000 ask in a coastal California city where vacancy rates stay historically low and rental demand consistently outpaces supply. The 3-bed, 2-bath single-story home spans 1,475 sq ft on a 5,009 sq ft lot with a 2-car attached garage and parking for up to four vehicles. Long-term tenants are in place, eliminating the typical turnover headache and stabilizing your returns immediately at close. RL zoning adds a layer of upside worth exploring potential for additional density or future development, subject to buyer verification with the City of Santa Cruz. The shared driveway arrangement with neighboring 315 Jessie St. keeps the footprint efficient.Whether you're 1031-exchanging into a low-maintenance hold or anchoring a growing Santa Cruz portfolio, this property delivers the fundamentals: reliable income, a desirable location, and room for long-term appreciation.
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 | 3.0 | 49% |
| Square foot | 1,475 | 1,706 | 40% |
| Lot Size | 5,009.4 | 7,057 | 30% |
| Price | $1.09M | $1.36M | 14% |
| Price per sq ft | $742 | $837 | 35% |
| Built year | 1979 | 1978 | 54% |
| HOA | $0 | $0 | 50% |
| Days on market | 99 | 99 | 51% |
Mar 24, 2026
$1,095,000
$1,200,000
-9% Price Drop
Initial Listing
Jan 13, 2026
$1,200,000
Initial Listing
Jan 8, 1998
$168,000
Public Record