Home | Santa Cruz County | Santa Cruz | 95060 | 247 High St
247 High St, Santa Cruz, CA 95060
MLS: ML82043922 | Status: | Price: $1,895,000
Beds/Baths: – / –
Property Type: Residential Income
Quick Facts
| Beds |
Baths |
Sq Ft |
Sq Ft Lot |
Yr Built |
| – |
– |
5,858 |
6,938 |
2026 |
Upcoming Open Houses
| Date |
Time |
Hosted By |
| Saturday, June 6 |
2:00 pm - 4:00 pm |
Troy Hinds |
| Sunday, June 7 |
2:00 pm - 4:00 pm |
Troy Hinds |
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.
| Field |
Value |
| MLS # |
ML82043922 |
| MLS Source |
MLSListings, Inc. |
| Days on Site |
33 |
Features
Interior Features
| Feature |
Details |
| Cooling |
Other |
| Heating |
Electric |
Exterior Features
| Feature |
Details |
| Roof |
Composition |
| Foundation |
Slab |
| Feature |
Details |
| Garage/Parking |
Assigned Spaces, Covered Parking, Garage: 0 Car(s) |
| High School District |
Santa Cruz City High |
| Sewer |
Public Sewer |
| Water |
Public |
| HOA Fee |
$0 |
| Zoning |
R-UM Residential - Multif |
Troy Hinds
David Lyng Real Estate
License #: 01803325
Phone: (831) 706-6224
Property Units
| # Buildings |
# Leased Units |
# Total Units |
| 1 |
0 |
7 |
Unit Details
| Type |
Sq Ft |
Beds |
Baths |
Min Rent |
Max Rent |
Units Like This |
| 1 |
421 |
1 |
1/0 |
$2,577 |
$2,577 |
1 |
| 2 |
440 |
1 |
1/0 |
$3,200 |
$3,200 |
1 |
| 3 |
979 |
3 |
2/0 |
$9,000 |
$9,000 |
4 |
| 4 |
1,138 |
3 |
2/0 |
$9,000 |
$9,000 |
1 |
School Ratings
School data provided by GreatSchools.org
Nearby Schools
Nearby Homes
Disclosures
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This listing information is up-to-date as of June 03, 2026. For the most current information, please contact Troy Hinds, (831) 706-6224.