Home | Santa Cruz County | Santa Cruz | 95060 | 247 High St
MLS: ML81944584 | Status: Sold | Price: $1,625,000
Beds/Baths: – / –
Property Type: Land
| Beds | Baths | Sq Ft | Sq Ft Lot | Yr Built |
|---|---|---|---|---|
| – | – | – | 6,938 | – |
Approved Development for Seven (7) Unit Luxury Apartment Building. Fully-entitled project consists of five (5) 2BR/2BA + Offices and two (2) 1BR/1BA units including an 1-BR Affordable Unit for a total 12 Bedrooms (17 Rooms/Occupants) and 12 Bathrooms in a stunningly beautiful, all-electric, luxury multifamily design complete with EV charges, security gates, community patio and BBQ area, pet washing station, and secured individual tenant storage lockers for surfboard, bikes, etc. The design is modeled after an adjacent building previously owned by the Seller located at 251 High St which had an 8.7% Avg Annual Rental Rate Growth and an actual Vacancy Factor of less than 0.5% (2015 - 2022) which was recently sold for $6,650,000 or $665,000/Unit and $475,000/Room with a 3.88% Cap Rate and 18.63 GRM. The location is ideally situated on UCSC Bus Line, and close proximity to Downtown Santa Cruz, Google Analytics, and Joby Aviation - all of which are the target demographic of future tenants.
| Field | Value |
|---|---|
| MLS # | ML81944584 |
| MLS Source | MLSListings, Inc. |
| Feature | Details |
|---|---|
| High School District | Santa Cruz City High |
| Sewer | Public Sewer |
| Water | Public |
| Zoning | R-M (Multi-Family Residen |
| Feature | Details |
|---|---|
| Development Status | Approved Building Plan |
| Existing Structures | Residence |
| Fencing | CompletePerimeter |
| Lot Description | Corners Marked, Grade - Level, Grade - Side Slope |
| Utilities | Gas - On Site, Public Utilities, Public Utilities, Water - Public |
Troy Hinds
David Lyng Real Estate
License #: 01803325
Phone: (831) 706-6224
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This listing information is up-to-date as of April 20, 2026. For the most current information, please contact Troy Hinds, (831) 706-6224.