David Lyng Real Estate is pleased to present Ohana Hale Residences — a fully permitted, shovel-ready student housing development opportunity located at 247 High Street in Santa Cruz, California. This rare offering provides an investor with the ability to acquire a fully entitled, permit-ready land with approved plans for a three-story, seven-unit student housing project without the time and cost of navigating the complex multi-year entitlement process. The project is designed as a purpose-built (shared room), all inclusive, 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 boutique student housing project at a mid-market investor scale — a rare combination and opportunity in the Santa Cruz County market. At a blended market rent of $1,800 per bed across 27 leasable beds, the project is projected to produce a stabilized Net Operating Income of $378,659 — capitalized at 5.00%, consistent with institutional student housing standards for newly constructed UCSC-proximate assets. The asking price of $1,895,000 represents an acquisition well below estimated replacement cost, with developer upside confirmed by third-party MAI appraisal and available in full to qualified buyers under NDA.