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2220 CHANTICLEER AVE, SANTA CRUZ, CA 95062 For Sale

CA
01748155
Marcus & Millichap - Palo Alto
Listed by Marcus & Millichap - Palo Alto
$10,800,000
1 day on market
Updated 1 day ago
Opportunity zone

Sunshine Village Apartments

Details
APN 029-042-10-000
Property Type Multifamily
Sub Type Apartment Building
Square Footage 17,920
Net Rentable (SqFt) 18,360
Units 16
Cap Rate 3.3%
NOI $356,498
Pro-Forma Cap Rate 5.02%
Pro-Forma NOI $542,511
Price per SqFt $588
Class B
Year Built 1998
Buildings 4
Acreage 1.760
Zoning RM-4
Parking Spaces 49 spaces
Parking per 1,000 SqFt 2.73
Investment Type Value Add
Sale Condition N/A

16 Townhome Units | 1.76 Acres | Santa Cruz, CA | Built 1998

Marketing description

16 Spacious Townhomes. Expansive 1.76 Acre Rectangular Lot. Built in 1998. 1.5 Miles from the Beach. The Azucena Group of Marcus & Millichap is pleased to present the exclusive opportunity to acquire Spring Village, located at 2220 Chanticleer Avenue in the coastal city of Santa Cruz, California. The property is being offered for sale for the first time since its construction by the original developer. The property consists of (1) four-bed/two-bath townhouse, (3) three-bed/two-bath townhouses, (2) two-bed/two-bath townhouses with lofts, and (10) two-bed/two-bath townhouses. All homes are spacious two-story floor plans with private yards, in-unit laundry, 3:1 on-site parking, and central A/C and heat. The large open spaces also allow for the addition of more units/ADUs. Ideally positioned between Silicon Valley and Monterey Bay, Santa Cruz has become one of Northern California's most desirable residential and investment markets. The city's exceptional quality of life, coastal setting, and limited housing supply continue to drive strong demand for rental housing. With a median home sale price exceeding $1.4 million (as of May 2026), homeownership remains unattainable for many local residents due to high acquisition costs, constrained inventory, and persistent buyer competition.

Investment highlights

  • 1.76-acre site, Opportunity Zone, RM-4 Zoning
  • Built in 1998
  • 16 Spacious, Two- Three- and Four- Bedroom Townhomes
  • Located 1.5 miles from the beach
  • 100% Two-Story Units, Laundry Equipped and Private Yards
  • Incredible Value-Add Upside

Listing Contacts

CA
01748155
Marcus & Millichap - Palo Alto
Listed by Marcus & Millichap - Palo Alto

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$356,498.00
$29,708.17/mo

Valuation Metrics

0
DSCR
3.3%
Cap Rate
3.3%
ROI

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Additional Information

Name
Tony Solomon
License
01238010
Brokerage
Marcus & Millichap
Brokerage Phone
3109095500
Title
Broker of Record
Brokerage Address
23975 Park Sorrento, Suite 400 Calabasas, CA 91302
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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