236 Ocean StSanta Cruz, CA 95060

Property Details for 236 Ocean St

Year built

1962

Construction

WOOD

Lot size

0.15 AC

Property size (Sq ft)

1,749 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

010-165-18

APU

1016518

Description

This exceptional Santa Cruz property, located at 236 Ocean St, 95060, presents a significant investment opportunity. Encompassing two parcels totaling approximately 9,853 square feet (6,409 sq ft and 3,444 sq ft) on a 0.226-acre lot, this retail land offers substantial development potential. Currently zoned CN, the property boasts strong existing income with additional space for expansion. According to insights from the Santa Cruz City Planning & Zoning Department, the site permits a minimum of six two-story units, with the possibility of more units and increased height depending on the buyer's plans. Furthermore, the city has indicated that the property qualifies for low-income housing, potentially allowing for a five-story building with no maximum unit limit. The asking price is $1,900,000. Buyer due diligence is recommended. This prime location eliminates the need for on-site parking. The property's versatility and zoning make it an attractive investment for various development scenarios.

• CAP approach

  CAP return

  Valuation

  6%

  $523,754

  6.5%

  $483,466

  7%

  $448,932

• Comparable approach

  Method

  Valuation

  Relative Method

  $487,814

  Geo Method

  $487,814

• Alternative Use

  Use

  Valuation

  Residential

  $599,497

  Hospitality

  $549,136

  Educational

  $456,875

  Medical

  $472,588

  Retail

  $710,694

Location Insight

City

Santa Cruz

County

Santa Cruz

State

California

Latitude

36.9708

Longitude

-122.017

CBSA code

42100

CBSA name

SANTA CRUZ-WATSONVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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