140 Bay St - Apartments FOR SALE


Santa Cruz, CA 95060- Westside
$3,200,000 USD
831-359-5454
140 Bay St, Santa Cruz, CA for Sale
$3,200,000 USD
Apartments - FOR SALE
1/26
null | 4.19% Cap Rate

140 Bay St
Santa Cruz, CA 95060
Westside


HIGHLIGHTS

  • Prime location just one block to the ocean
  • High demand rental, long-term tenant stability, and upside potential
  • Single level design supports broad rental demand

OVERVIEW

Coastal living meets strong investment performance in this exceptional 8-unit property just steps from iconic W Cliff Dr. This well-maintained 5309 sq ft building features 8 single-level, 1BR/1BA , separately metered units. Ground floor units enjoy small outdoor spaces ideal for plants or personal touches, while the upper ones capture neighborhood and downtown views. Professionally managed, the units are consistently occupied, offering stable cash flow and long-term investment reliability. Annual income is $208K. With consistent demand in this prime coastal location, it presents both immediate income and upside potential. Upgrades and amenities include a new DuroLast roof in 2021, double pane windows, on-site laundry, bike racks, and dedicated off-street parking, enhancing tenant appeal and retention. A High Walk Score gives residents easy access to the Santa Cruz Wharf, vibrant downtown, and nearby public transit. Just a few blocks away, sandy beaches and world-class surfing at Steamer Lane offers the perfect coastal escape if you choose to keep one unit for yourself. Multi-unit properties like this rarely come to market, making this one a unique opportunity to acquire a turnkey asset in one of Santa Cruz's most desirable locations.

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$603 USD /SF

# OF UNITS

8

PRICE/UNIT

$400,000

CAP RATE

4.19%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

140 Bay Street

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,882 SF

ZONING

RTB

APN/PARCEL ID

004-081-04-000

ASK ABOUT THIS PROPERTY

Janet RomanowskiDavid Lyng Real EstateMore Info
831-359-5454

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Janet RomanowskiDavid Lyng Real EstateMore Info
831-359-5454

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.