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Santa Cruz, CA 95060
$1,795,000
Bed
0
Bath
0
Living Space
5,858 SqFt
Year Built
2026
Lot Size
6,938 SqFt
Days
84
Ohana Hale Residences is a fully permitted, shovel-ready 6,393 SF student housing development opportunity with a carrier SFR. The project's student housing income model of 27 leasable beds at a blended market rent of $1,800 per bed per month may produce a Stabilized Pro Forma Gross Income of $618,924 with NOI of $378,659, far exceeding typical investor expectations for newly constructed UCSC-proximate housing, represents an acquisition and construction at a compelling discount with major developer upside embedded in the as-completed spread. The market has already spoken on this block. Next door, 251 High Street, a conventional, unfurnished building with only ~40% student occupancy and no per-bed premium - recently traded at a 3.88% cap rate. Apply the same cap rate to Ohana Hale's fully furnished, 100% per-bed student model: the developer/buyer could realize up to $4M in equity at completion with an IRR well over 50%. The comp is next door. The upside is in the math. Purpose-built for the UCSC off-campus market, 247 High St provides an investor with the ability to acquire fully entitled, permit-ready land with approved plans for a new student housing project featuring 27 beds and 12 bathrooms across 7 units without the time and cost of navigating the complex entitlement process.
Listing provided courtesy ofTroy Hinds License 01803325 David Lyng Real Estate
Data provided by MLSListings Inc.
- Westlake Elementary School - GreatSchools rating 6/10 - Mission Hill Middle School - GreatSchools rating 9/10 - Santa Cruz High School - GreatSchools rating 10/10 School District: Santa Cruz City Elementary School District
Within a 1-2 mile radius of the property, several parks and recreational areas are available. These include Mission Plaza Park, Mission Hill Historic District, and Santa Cruz Mission State Historic Park, all located in close proximity. Harvey West Park, a 50-acre municipal park, offers hiking trails, swimming pools, ball fields, and playgrounds. Additionally, Wilder Ranch State Park provides coastal views and hiking trails, while Henry Cowell Redwoods State Park features redwood groves and various outdoor activities.
The neighborhood surrounding " High , Santa Cruz, CA, 95060" is part of the Westside area of Santa Cruz. This area is characterized by a mix of residential housing and commercial activity, with Mission Street serving as a main thoroughfare connecting to Highway One. The Westside is known for its diverse businesses, including craft breweries, restaurants, and shops, contributing to a vibrant local atmosphere.
This location is a Walker's Paradise with a Walk Score of 96 out of 100. It also has good transit options, with numerous nearby public transportation routes. Verified transit routes include the 11 UCSC via West Gate, 4 River/Harvey West/Emeline, and 4W River/Harvey West.
This neighborhood information is AI-generated based on the property address and publicly available data. Please verify important information independently. Do not rely solely on this information for property decisions. RoostHaven makes no warranties and assumes no liability for the accuracy or completeness of AI-generated information. School boundaries, ratings, and local amenities may change over time.
- Westlake Elementary School - GreatSchools rating 6/10 - Mission Hill Middle School - GreatSchools rating 9/10 - Santa Cruz High School - GreatSchools rating 10/10 School District: Santa Cruz City Elementary School District
Within a 1-2 mile radius of the property, several parks and recreational areas are available. These include Mission Plaza Park, Mission Hill Historic District, and Santa Cruz Mission State Historic Park, all located in close proximity. Harvey West Park, a 50-acre municipal park, offers hiking trails, swimming pools, ball fields, and playgrounds. Additionally, Wilder Ranch State Park provides coastal views and hiking trails, while Henry Cowell Redwoods State Park features redwood groves and various outdoor activities.
The neighborhood surrounding " High , Santa Cruz, CA, 95060" is part of the Westside area of Santa Cruz. This area is characterized by a mix of residential housing and commercial activity, with Mission Street serving as a main thoroughfare connecting to Highway One. The Westside is known for its diverse businesses, including craft breweries, restaurants, and shops, contributing to a vibrant local atmosphere.
This location is a Walker's Paradise with a Walk Score of 96 out of 100. It also has good transit options, with numerous nearby public transportation routes. Verified transit routes include the 11 UCSC via West Gate, 4 River/Harvey West/Emeline, and 4W River/Harvey West.
This neighborhood information is AI-generated based on the property address and publicly available data. Please verify important information independently. Do not rely solely on this information for property decisions. RoostHaven makes no warranties and assumes no liability for the accuracy or completeness of AI-generated information. School boundaries, ratings, and local amenities may change over time.
