817 California Street, Santa Cruz, California 95060, Santa Cruz, 95060 - 0 bed, 0 bath
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Santa Cruz, California 95060
Analysis of 817 California Street, Santa Cruz, California 95060 is currently available with a list price of $3,975,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Santa Cruz Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is move-in ready.
Although built in 1973, the property has been well-maintained and features significant interior updates. The kitchens are equipped with stainless steel appliances, updated cabinetry, and solid-surface countertops. Bathrooms show modern vanities and fixtures, and the flooring has been updated to a consistent laminate/vinyl plank throughout. The presence of newer vinyl windows and well-maintained exterior decking indicates regular upkeep and a move-in ready status for tenants.
The property generates a high Net Operating Income (NOI) of $191K annually with a gross income of nearly $275K, supported by an established rental history and a very low vacancy rate in a high-demand market.
Perfectly positioned on the UCSC bus line corridor with immediate access to both the university campus and Downtown Santa Cruz, ensuring a consistent and reliable tenant pool.
The inclusion of four separate water and gas meters significantly reduces owner overhead, while on-site laundry and off-street parking enhance tenant retention and property value.
Constructed in 1973, the building may require increased capital expenditure for long-term maintenance and modernization of systems to keep pace with newer rental inventory.
Managing a 16-bedroom student-centric rental involves higher turnover rates and more intensive property management compared to traditional multi-family or single-family investments.
Professionally managed UCSC rental opportunity with a phenomenal investment profile. This property features four 1,207 Sq. Ft. 4-Bed/2-Bath units, totaling 16 Bedrooms and 8 Bathrooms across 4,828 Sq. Ft. Benefit from an established rental history, very low vacancy rate, Total Operating Income of nearly $275K/year and a strong Net Operating Income (NOI) of $191K/year. Competitive financing is streamlined with SFR options available. Key features that maximize tenant appeal and minimize owner overhead include: on-site laundry, off-street parking, and 4 separate water and gas meters. The location is unbeatable for student renters, situated directly on the UCSC bus line corridor with quick access to campus and Downtown Santa Cruz. Don't miss this rare chance to secure a high-performing asset in a consistently robust rental market. All units are 4 Bed / 2 Bath
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1973 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Apr 14, 2026
$3,975,000
Initial Listing
Sep 22, 2021
$3,075,000
Public Record
Jan 15, 2016
$1,580,000
Public Record