CA
Santa Cruz
SANTA CRUZ
95060
328 Ocean Street
328 Ocean Street, SANTA CRUZ, CA 95060
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Listing Type
Multi Family
Listing Status
Active
8
$4,100,000

Home Details for 328 Ocean Street

Price
$4,100,000
Type
Residential Income
Square feet
6047
Year built
1977
County
Santa Cruz
MLS Listing#
ML82052870
Listed By: Coldwell Banker Realty - 831-688-6461
Listed By: Paul Zech
Property Description

5.1 Cap Rate: Two rental properties total 14 units. This listing and its income/expenses include 319 Jessies St; a 3 bed, 2 bath 1,475 sq. ft. attached 2 car garage located directly behind 328 Ocean St. Offered with a proven track record of performance,100% occupied for the past 25 years. These combined 14-units deliver an excellent 25 year rental history with potential upside through reasonable rent increases. The apartments span two parcels totaling 13,808.52 sq. ft. and include 17 marked parking spaces. Ideally located on a major bus line and just minutes to the Santa Cruz Beach Boardwalk, Municipal Wharf, and downtown Santa Cruz. Convenient access with approximately one mile to Hwy 17 and Hwy 1 (PCH). Additional value may exist through future redevelopment potential, with the possibility to increase height and unit count (buyer to verify). Parcel 1: APN 010-551-29 - 7,797.24 sq. ft. Parcel 2: APN 010-551-30 - 6,011 sq. ft. Both parcels do have strong future increased unit density development allowed by city (buyer to confirm w/ their plans) both properties can be purchase separately. Currently all tenants are on month to month rental agreements.

Property Features
  • Parking
    • Off Street
    • Assigned
  • Cooling Information
    • None
  • Heating Information
    • Other
  • Water Features
    • Public
School Information
School Information for 328 Ocean Street, SANTA CRUZ, CA 95060
Elementary School
N/A
Middle School
N/A
High School
Santa Cruz High
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Based on information from the MLSListings MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Copyright 2026 MLSListings Inc. All rights reserved.

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Last Updated: 2026-07-20 14:00:27
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EXIT REALTY CONSULTANTS
16175 Monterey #A, Morgan Hill, CA 95037
CA DRE# 01424183. Kris Klair Broker.
Margaret Vierra
Associate Broker
Office
408 778 9990
Agent
408 202 3243
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