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.
Sold for $1,625,000
$1,625,000
247 High St, Santa Cruz, CA 95060
--beds
--baths
6,938Square Feet
Residential Development Land, Unimproved Land
Built in ----
6,938 Square Feet Lot
$1,512,800 Zestimate®
$--/sqft
$3,340 Estimated rent
Home value
$1,512,800
$1.23M - $1.82M
$3,340/mo
Zestimate® history
Owner options
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$3,340/mo
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$3,340/mo
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$10,425/mo
Est. payment
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$10,425/mo
Est. payment
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Zillow last checked:
Listing updated:
Listed by:
Troy Hinds 01803325 831-706-6224,
David Lyng Real Estate 831-429-5700
Bought with:
Jon Lee, 01276531
Jon Lee, Broker
Source: MLSListings Inc,MLS#: ML81944584
Facts & features
Property
Features
- Fencing: Perimeter
- Has view: Yes
- View description: Bay, City Lights, Greenbelt, Ridge
- Has water view: Yes
- Water view: Bay
Lot
- Size: 6,938 sqft
- Features: Corners Marked, Level, Side Slope
Details
- Additional structures: Residence
- Parcel number: 00617102000
- Zoning: R-M (Multi-Family Residen
- Special conditions: Standard
Utilities & green energy
- Gas: GasOnSite, PublicUtilities
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Public Utilities, Water Public
Community & neighborhood
Location
- Region: Santa Cruz
Other
Other facts
- Listing agreement: ExclusiveRightToSell
- Listing terms: CashorConventionalLoan
Price history
| Date | Event | Price |
|---|---|---|
| 5/10/2024 | Sold | $1,625,000+4.9% |
Source:  MLSListings Inc #ML81944584 Report a problem | ||
| 3/30/2024 | Pending sale | $1,549,000 |
Source: MLSListings Inc #ML81944584 Report a problem | ||
| 12/15/2023 | Contingent | $1,549,000 |
Source: MLSListings Inc #ML81944584 Report a problem | ||
| 11/6/2023 | Price change | $1,549,000-11.5% |
Source: MLSListings Inc #ML81944584 Report a problem | ||
| 10/23/2023 | Price change | $1,750,000-7.7% |
Source: MLSListings Inc #ML81944584 Report a problem | ||
| 10/10/2023 | Listed for sale | $1,895,000+180.7% |
Source: MLSListings Inc #ML81944584 Report a problem | ||
| 7/26/2019 | Sold | $675,000 |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $19,419 +130.2% | $1,657,500 +124.1% |
| 2024 | $8,435 +2.7% | $739,677 +4.2% |
| 2023 | $8,211 +1.1% | $709,546 +2% |
| 2022 | $8,120 +2.1% | $695,633 +2% |
| 2021 | $7,952 +0.8% | $681,993 +1% |
| 2020 | $7,891 +1103.8% | $675,000 +2243.9% |
| 2019 | $656 +0.7% | $28,798 +2% |
| 2018 | $651 +0.8% | $28,234 +2% |
| 2017 | $646 +2.4% | $27,678 +2% |
| 2016 | $630 +24.8% | $27,136 +1.5% |
| 2015 | $505 +1.1% | $26,728 +2% |
| 2014 | $500 | $26,204 +2.5% |
| 2012 | -- | $25,575 +2% |
| 2011 | -- | $25,073 +0.8% |
| 2010 | -- | $24,886 -0.2% |
| 2009 | -- | $24,945 +2% |
| 2008 | -- | $24,456 +2% |
| 2007 | -- | $23,977 +2% |
| 2006 | -- | $23,506 +2% |
| 2005 | -- | $23,045 +2% |
| 2004 | -- | $22,593 +1.9% |
| 2003 | -- | $22,179 +2% |
| 2002 | -- | $21,745 +2% |
| 2001 | -- | $21,319 +2% |
| 2000 | -- | $20,901 |
Find assessor info on the county website
Neighborhood: 95060
Nearby schools
GreatSchools rating
- 9/10Westlake Elementary SchoolGrades: K-5Distance: 0.9 mi
- 9/10Mission Hill Middle SchoolGrades: 6-8Distance: 0.3 mi
- 10/10Santa Cruz High SchoolGrades: 9-12Distance: 0.5 mi
- California
- Santa Cruz County
- Santa Cruz
- 95060
- 247 High St
Nearby cities
Nearby zip codes
Other Santa Cruz Topics
