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Listed price in listed location currency (USD).
$1,895,000

000

MLS® ML82043922

  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Commercial Sale
Size -
Garage 
Taxes $86,416
Days Active 2
Lot Size 
Approx. Age 2026
MLS® Number ML82043922

Property Address: 247 High St, Santa Cruz, CA, 95060-3711

Average square foot calculated using Size range provided by listing agent.

Description

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.
MLS® NumberML82043922
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age2026
Basement
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

May 1, 2026List Date
$1,895,000List Price
  • Commute

Commute

Starting Address
Destination Address
247 High St, Santa Cruz, CA

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