Home | Santa Cruz County | Santa Cruz | 95060 | 140 Vernon St
MLS: ML81986370 | Status: | Price: $6,000,000
Beds/Baths: – / –
Property Type: Residential Income
| Beds | Baths | Sq Ft | Acres Lot | Yr Built |
|---|---|---|---|---|
| – | – | 9,399 | 0.541 | 1999 |
Pogonip Terrace, located at 140 Vernon St in Santa Cruz, is a well maintained property with historically high occupancy rates. Built in 1999, the 28 unit building is near open space with easy access to area highways (9, 1, 17), UC Santa Cruz, and Downtown Santa Cruz. The Santa Cruz rental market is impacted and there is constant demand for smaller units. The 27 SRO (Single Room Occupancy) units and the 1 one-bedroom unit are appealing to professionals and students alike. It is rare for a building of this size, especially one built in the last 25-years, to come on the market in Santa Cruz. Rents have continued to increase, with the latest SROs renting for $1,925 per month. There is upside to an investor by bringing up the remaining rents to the current market per the Rent Roll and Financial Analysis. The property is professionally managed by a long term manager whod like to continue. Four of the units are part of the Measure O (Affordable) program in the city of Cruz. The remainder of the units are market rate. This property is owned and operated by the original owners and is offered for sale for the first time in its 25 year history. Projected property tax based on list price.
| Field | Value |
|---|---|
| MLS # | ML81986370 |
| MLS Source | MLSListings, Inc. |
| Feature | Details |
|---|---|
| Flooring | Laminate |
| Laundry | Coin Operated |
| Cooling | None |
| Heating | Radiant |
| Feature | Details |
|---|---|
| Roof | Composition |
| Foundation | Concrete Perimeter and Slab |
| Feature | Details |
|---|---|
| Garage/Parking | Assigned Spaces, Garage: 0 Car(s) |
| High School District | Santa Cruz City Elementary |
| Sewer | Public Sewer |
| Water | Public |
| Zoning | IG |
Chris Shoemaker
Shoemaker Commercial Real Estate
License #: 01760812
Phone: (831) 247-2647
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 3 | 28 | 28 |
| Type | Sq Ft | Beds | Baths | Min Rent | Max Rent | Units Like This |
|---|---|---|---|---|---|---|
| 1 | 335 | – | 1/0 | – | $1,925 | 27 |
| 2 | 550 | 1 | 0/0 | – | $2,375 | 1 |
School data provided by GreatSchools.org
©2026 MLSListings Inc. All rights reserved. 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. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from MLSListings Inc.
Presently MLSListings.com displays Active, Contingent, Pending, and Recently Sold listings. Recently Sold listings are properties which were sold within the last three years. After that period listings are no longer displayed in MLSListings.com. Pending listings are properties under contract and no longer available for sale. Contingent listings are properties where there is an accepted offer, and seller may be seeking back-up offers. Active listings are available for sale.
This listing information is up-to-date as of January 30, 2026. For the most current information, please contact Chris Shoemaker, (831) 247-2647.