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
134
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 (Elementary) - GreatSchools rating 9/10 - Santa Cruz City High School District (Middle) - Rating not listed - Santa Cruz High School (High) - GreatSchools rating 8/10 School District: Santa Cruz City High School District
Within a 1-2 mile radius of the property, several parks and recreational areas are available. These include Garfield Park, which features a playground, basketball court, and picnic areas, and Depot Park, offering a playground, picnic area, and bike park. Harvey West Park, another nearby option, provides a large grassy field and picnic tables.
The neighborhood is part of the Westside area of Santa Cruz, known for its bustling commercial district with numerous restaurants, shops, and businesses. Mission Street runs through the district, connecting to Highway One. This area is densely populated, and traffic can be an issue during commuting hours. Local dining options include Sourdough & Co. on Almar Ave, offering sandwiches, soups, and salads.
Santa Cruz has a Walk Score of 63 and a Transit Score of 50. Public transit options include METRO bus routes, such as routes 3A and 3B, which serve the East Side and travel towards downtown and Capitola.
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 (Elementary) - GreatSchools rating 9/10 - Santa Cruz City High School District (Middle) - Rating not listed - Santa Cruz High School (High) - GreatSchools rating 8/10 School District: Santa Cruz City High School District
Within a 1-2 mile radius of the property, several parks and recreational areas are available. These include Garfield Park, which features a playground, basketball court, and picnic areas, and Depot Park, offering a playground, picnic area, and bike park. Harvey West Park, another nearby option, provides a large grassy field and picnic tables.
The neighborhood is part of the Westside area of Santa Cruz, known for its bustling commercial district with numerous restaurants, shops, and businesses. Mission Street runs through the district, connecting to Highway One. This area is densely populated, and traffic can be an issue during commuting hours. Local dining options include Sourdough & Co. on Almar Ave, offering sandwiches, soups, and salads.
Santa Cruz has a Walk Score of 63 and a Transit Score of 50. Public transit options include METRO bus routes, such as routes 3A and 3B, which serve the East Side and travel towards downtown and Capitola.
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.
