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247 High St, Santa Cruz, CA 95060
$1,625,000
247 High St, Santa Cruz, CA 95060View this property at 247 High St, Santa Cruz, CA 95060
247 High StSanta CruzCA95060
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Property Description
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.
Full Property Details
Full Property Details for 247 High St
General
- Sold For: $1,625,000
- Status: Closed
- Type: Development
- MLS ID: ML81944584
- Added to Site: 225 day(s) ago
Additional Information
- Extras: Not Applicable
Location
- Area: West Santa Cruz
- County: Santa Cruz
- Cross Streets: Highland Ave
Utilities
- Sewer: Public Sewer, Sewer Connected
- Water: Public, Water on Site
- Utility Description: Electricity on Site, Gas (On Site), Public Utilities
Lot Features
- Property View: Bay, City Lights, Greenbelt, Ridge
- Lot Size (Acres): 0.1593
- Minimum Lot Size: 6938
- Lot Size (Sq. Ft.): 6,938
- Development Status: Approved Building Plan
- Present Use: Single Family
- Zoning: R-M (Multi-Family Residential - Medium Density)
- Lot Description: Corners Marked, Level, Sloping at the Side
- Fencing (Description): Complete Perimeter
Listed by David Lyng Real Estate, Troy Hinds
Sold by Jolb, Jon Lee
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Schools
Schools serving 247 High St
School Districts:Santa Cruz City Elementary School District, Santa Cruz City High School District
Rating | Name | Grades | Distance |
---|---|---|---|
1000 High St, Santa Cruz, CA 95060 | K-5 | 0.9 mi | |
425 King St, Santa Cruz, CA 95060 | 6-8 | 0.3 mi | |
415 Walnut Ave, Santa Cruz, CA 95060 | 9-12 | 0.4 mi | |
300 La Fonda Ave, Santa Cruz, CA 95062 | 9-12 | 2.2 mi | |
401 Old San Jose Rd, Soquel, CA 95073 | 9-12 | 4.1 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 247 High St
Date
Details
Price
Change
Source
5/10/2024
Sold
$1,625,000
4.91%
MLS
11/06/2023
Price Reduced
$1,549,000
-11.49%
MLS
10/23/2023
Price Reduced
$1,750,000
-7.65%
MLS
10/10/2023
Listed
$1,895,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
247 High St, Santa Cruz, CA 95060 (MLS# ML81944584) is a Development property that was sold at $1,625,000 on May 10, 2024. Want to learn more about 247 High St? Do you have questions about finding other Development real estate for sale in Santa Cruz? You can browse all Santa Cruz real estate or contact a Coldwell Banker agent to request more information.