Ad #7811368
MLS #ML82043922
Ohana Hale Residences is a fully permitted, shovel-ready 6,393
247 High ST, Santa Cruz, CA 95060
$1,895,000
8Beds
--Baths
5,858Sqft
0.16Acres
About this property
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.
Property Features
8 Beds
0 Baths
5,858 Sqft
Built in 2026
0.16 Acres
Covered, Assigned
Composition Roof
Electric (Heating)
Additional Photos
Contact Information
Troy Hinds
David Lyng Real Estate
831-706-6224
Location
Listing Agent: Troy Hinds (License #: 01803325) 831-706-6224
Broker: David Lyng Real Estate 831-476-0100 Listing Site
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: David Lyng Real Estate 831-476-0100 Listing Site
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
BeachHouse.com
Printed Aug 11, 2026
Photo Gallery
$1,895,000
8
Beds
--
Baths
5,858
Sqft
247 High ST, Santa Cruz, CA 95060
By contacting this agent you agree to these Terms and Conditions.
MLS# ML82043922
Ohana Hale Residences is a fully permitted, shovel-ready 6,393
$1,895,000
247 High ST, Santa Cruz, CA 95060
8
Beds
--
Baths
5,858
Sqft
0.16
Acres
$1,895,000
247 High ST, Santa Cruz, CA 95060
8 Beds
-- Baths
5,858 Sqft
0.16 Acres
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.
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Property Details
HOME DETAILS
8 Beds
0 Baths
5,858 Sqft
Built in 2026
0.16 Acres
EXTERIOR
Covered, Assigned
Composition Roof
INTERIOR
Electric (Heating)
See More Details
Location
Mortgage Calculator
Ad Statistics
Ad Number
7811368
Viewed
32 times
Listing Status
Active
Added
Jun 29, 2026
Last Refreshed
Jul 03, 2026 06:17:28 PM
Listing Information
Data Source
MLS Listings, Inc.
Source Property ID
ML82043922
Listing Agent: Troy Hinds (License #: 01803325) 831-706-6224
Broker: David Lyng Real Estate 831-476-0100 Listing Site
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: David Lyng Real Estate 831-476-0100 Listing Site
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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