Log In/Sign Up
Your email has been sent.
2643 Mar Vista Dr 9 Unit Apartment Building $3,765,000 ($418,333/Unit) 4.18% Cap Rate Aptos, CA 95003
Investment Highlights
- Fully leased 9-unit multifamily property offering consistent income generation and long-term investment opportunity.
- Strong in-place income producing more than $22,995 in monthly rental revenue and 100% occupancy.
- Multiple parking options including five carports, seven open spaces, four assigned spaces, and garage parking.
- Attractive coastal location in Aptos, Santa Cruz County, with close proximity to beaches, shopping, dining, and recreation.
- Convenient access to the University of California, Santa Cruz, major employment centers, and local community amenities.
- Located in a well-established neighborhood supported by Santa Cruz County’s broader Highway 1 Corridor Investment Program.
Executive Summary
2643-2655 Mar Vista Drive is a fully leased, 9 plex located in Aptos area of Santa Cruz. The offering consists of one APN and two addresses positioned along Mar Vista Drive. The property features eight two-bedroom one-bath residences and one studio apartment with garage. The existing improvements include one-and two-story multifamily buildings, along with a residential cottage component, creating a unique residential compound in one of Aptos’ established coastal neighborhoods. The location offers convenient access to beaches, dining, University of Santa Cruz, employment, shopping, recreation, and coastal amenities. A new pedestrian and bicycle crossing over Highway 1 will be completed in 2026 at Mar Vista Drive in Aptos. The bridge is designed to connect the Seacliff and Aptos neighborhoods, schools and beaches and the project is part of the broader Highway 1 Corridor Investment Program to improve connectivity.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,765,000 | Building Class | C |
| Price Per Unit | $418,333 | Lot Size | 0.49 AC |
| Sale Type | Investment | Building Size | 7,295 SF |
| Cap Rate | 4.18% | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.69 | No. Stories | 2 |
| No. Units | 9 | Year Built | 1972 |
| Property Type | Multifamily | Parking Ratio | 2.19/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM-3 - High Density Residential | ||
| Price | $3,765,000 |
| Price Per Unit | $418,333 |
| Sale Type | Investment |
| Cap Rate | 4.18% |
| Gross Rent Multiplier | 13.69 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 7,295 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 2.19/1,000 SF |
| Zoning | RM-3 - High Density Residential |
Amenities
- Smoke Detector
Unit Amenities
- Dishwasher
- Disposal
- Storage Space
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Range
- Carpet
- Deck
- Double Pane Windows
- Handrails
- Porch
- Smoke Free
- Vinyl Flooring
Site Amenities
- Fenced Lot
- Gas Range
- Smoke Free
- Trash Pickup - Curbside
- Storage Space
- Individual Leases Available
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 9 | $2,623 | 582 - 868 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
20/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 039-191-10-000 | Total Assessment | $2,658,655 (2025) |
| Land Assessment | $1,729,055 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $929,600 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
039-191-10-000
Land Assessment
$1,729,055 (2025)
Improvements Assessment
$929,600 (2025)
Total Assessment
$2,658,655 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
1 of 21
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
