Investment Overview

Marcus & Millichap offers 706 Broadway in Santa Cruz, this highly unique 9-unit apartment property is situated on an expansive 19,210 square foot lot in the heart of Midtown Santa Cruz, offering close proximity to Downtown Santa Cruz, the beach area, and major commuter corridors. The property consists of four duplexes and one single-family home, all single-story, which is exceptionally rare for the area and highly attractive to tenants. All nine units feature one-bedroom floor plans, with seven of the nine units fully renovated, contributing to strong tenant demand and ease of leasing. The property is well-positioned near popular retail and lifestyle amenities along Soquel Avenue, Ocean Street, and Downtown Pacific Avenue, providing convenient access to shopping, dining, coffee shops, and daily necessities. The building has been extensively maintained and upgraded, including new roofs, updated plumbing and electrical systems, a renovated common laundry room, fresh exterior paint, and an improved driveway, offering investors a true turn-key asset. Parking is a major strength, with 9 open parking spaces and 8 private garages, a rare amenity in Midtown Santa Cruz. The current monthly rent roll is $25,545, assuming the landlord implements a conservative $75 rent increase on 8 of the 9 units by February, further enhancing cash flow. With its single-story layout, strong parking ratio, upgraded systems, and irreplaceable Midtown location, this property represents a well-maintained, easy-to-rent investment opportunity in one of Santa Cruz’s most desirable rental submarkets.