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328 Ocean St
For Sale $3,000,000
$3,000,000
- Units
- Unknown Sq Ft
- 13,808 Sq Ft
- Unknown Cap Rate
Description
Offered at an attractive 6% cap rate with a proven track record of performance,100% occupied for the past 25 years. This 13-unit apartment property delivers excellent rental history with potential upside through reasonable rent increases. The apartments span two parcels totaling 13,808.52 sq. ft. and include 17 marked parking spaces. Ideally located on a major bus line and just minutes to the Santa Cruz Beach Boardwalk, Municipal Wharf, and downtown Santa Cruz. Convenient access with approximately one mile to Hwy 17 and Hwy 1 (PCH). Additional value may exist through future redevelopment potential, with the possibility to increase height and unit count (buyer to verify). Parcel 1: APN 010-551-29 - 7,797.24 sq. ft. Parcel 2: APN 010-551-30 - 6,011 sq. ft.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $3,000,000 |
| Property Type | Other |
| Usable Sqft | Unknown |
| Number of Stories | 0 stories |
| Parking Spots | 17 spots |
| Year Built | 1977 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| HOA Fees: | $0 |
| Association Name: | Unknown |
| Association Amenities: | Unknown |
| APN # | 01055129000 |
| MLS # | ML82030413 |
| Property ID | 322486727 |
| Lot Sqft | 13,808 |
| Zoning | RM |
| Days on Market | 43 |
| Original List Price | $3,000,000 |
| Date Updated | February 13, 2026 |
| Date Created | January 06, 2026 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Paul Zech an agent of . Lic #01965059
© 2026 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of February 13, 2026 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Robert Crawford
REAL ESTATE AGENT