Home | Santa Cruz County | Santa Cruz | 95060 | 247 High St
MLS: ML82043922 | Status: | Price: $1,895,000
Beds/Baths: – / –
Property Type: Residential Income
| Beds | Baths | Sq Ft | Sq Ft Lot | Yr Built |
|---|---|---|---|---|
| – | – | 5,858 | 6,938 | 2026 |
Ohana Hale Residences is a fully permitted, shovel-ready 6,393 SF student housing development opportunity with a carrier SFR. The project's student housing income model of 27 leasable beds at a blended market rent of $1,800 per bed per month may produce a Stabilized Pro Forma Gross Income of $618,924 with NOI of $378,659 at a selected 5.00% cap rate exceeding typical investor expectations for newly constructed UCSC-proximate housing, represents an acquisition and construction at a compelling discount with major developer upside embedded in the as-completed spread. The project is designed as a purpose-built, fully furnished student rental to serve the robust and chronically undersupplied UCSC off-campus housing market, located approximately one mile from the main university entrance. Operating on a per-bed lease model across five three-bedroom units, the project is structured to function as an institutional-grade student housing product at a mid-market investor scale: a rare combination in the Santa Cruz County market. This rare offering provides an investor with the ability to acquire fully entitled, permit-ready land with approved plans for a new student housing project featuring 27 beds and 12 bathrooms without the time and cost of navigating the complex entitlement process.
| Field | Value |
|---|---|
| MLS # | ML82043922 |
| MLS Source | MLSListings, Inc. |
| Days on Site | 1 |
| Feature | Details |
|---|---|
| Cooling | Other |
| Heating | Electric |
| Feature | Details |
|---|---|
| Roof | Composition |
| Foundation | Slab |
| Feature | Details |
|---|---|
| Garage/Parking | Assigned Spaces, Covered Parking, Garage: 0 Car(s) |
| High School District | Santa Cruz City High |
| Sewer | Public Sewer |
| Water | Public |
| HOA Fee | $0 |
| Zoning | R-UM Residential - Multif |
Troy Hinds
David Lyng Real Estate
License #: 01803325
Phone: (831) 706-6224
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 0 | 7 |
| Type | Sq Ft | Beds | Baths | Min Rent | Max Rent | Units Like This |
|---|---|---|---|---|---|---|
| 1 | 421 | 1 | 1/0 | $2,577 | $2,577 | 1 |
| 2 | 440 | 1 | 1/0 | $3,200 | $3,200 | 1 |
| 3 | 979 | 3 | 2/0 | $9,000 | $9,000 | 4 |
| 4 | 1,138 | 3 | 2/0 | $9,000 | $9,000 | 1 |
©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 May 02, 2026. For the most current information, please contact Troy Hinds, (831) 706-6224.