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$1,895,000
Est. payment /mo
6,939 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82043922
HOA Y/N No
Year Built 2026
Annual Tax Amount $86,416
Lot Size 6,939 Sqft
Property Description
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 at a selected 5.00% cap rate 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 project is designed as a purpose-built, 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 student housing product at a mid-market investor scale: a rare combination in the Santa Cruz County market. This rare offering 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 without the time and cost of navigating the complex entitlement process.
Location
State CA
County Santa Cruz
Area 699 - Not Defined
Zoning R-UM Residential - Multif
Interior
Heating Electric
Fireplace No
Exterior
Carport Spaces 7
Roof Type Composition
Building
Water Public
Schools
School District Other
Others
Tax ID 00617102000
Special Listing Condition Standard
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Listed by Troy Hinds David Lyng Real Estate #01803325
Nearby Locations
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