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420 Capitola Road Ext 5 Unit Apartment Building $3,800,000 ($760,000/Unit) 4.43% Cap Rate Santa Cruz, CA 95062
Investment Highlights
- 5 Units
- Fully Occupied
- Midtown Location
Executive Summary
Turnkey multi-unit investment opportunity in a convenient Midtown Santa Cruz location. The property features five residential units across three structures plus a vacant rear portion of the parcel offering potential for future development. Unit mix includes a 3BR/2BA single-family home (420 Capitola Rd Ext) with an attached studio (420A), a detached 1BR/1BA home (422), and a duplex with a 2BR/1BA unit (422A) and a 2BR/1.5BA unit (424) sharing one wall. Additional improvements include covered parking, a shared laundry area, and several accessory structures. The parcel is primarily designated Urban Medium Residential and zoned RM-4, providing potential flexibility for multi-family housing uses. Well located near Midtown Santa Cruz, Ocean Street, Downtown, and area beaches, with convenient access to shopping, dining, and commuter routes. The property has a strong rental history and currently operates as a solid five-unit income property with ample open space and long-term upside potential, including the possibility for future expansion or larger-scale development. Buyer to verify zoning and development potential with appropriate government agencies.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| 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 (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $4,700 | 1,592 |
| 1+1 | 1 | $2,450 | 477 |
| 1+1 | 1 | $3,250 | 869 |
| 2+1 | 1 | $3,450 | 915 |
| 2+1.5 | 1 | $3,200 | 677 |
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Walk Score®
Very Walkable (70)
Bike Score®
Very Bikeable (84)
Property Taxes
| Parcel Number | 026-081-45-000 | Total Assessment | $862,000 |
| Land Assessment | $554,143 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $307,857 | Tax Year | 2025 |
Property Taxes
Parcel Number
026-081-45-000
Land Assessment
$554,143
Improvements Assessment
$307,857
Total Assessment
$862,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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420 Capitola Road Ext
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