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    Triplex with Artist Studio Title is generated by Realmo AI

    2545 Mar Vista DR, Aptos, CA 95003

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    New
    For Sale
    $999,000

    MULTI_FAMILY - APTOS, CA

    Property size:
    2,400 SF
    Lot size:
    0.22 Acres
    Price / SF:
    $416/SF
    Added:
    May 31, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 6 at 7:06 am

    Property Features for 2545 Mar Vista DR

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    C-1
    Bedrooms
    4
    Rooms
    Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3
    Parking
    8
    Parking features
    Assigned
    Appliances
    Appliances - Vary by Unit, Countertop - Granite, Countertop - Tile, Hood Over Range, Oven Range - Gas, Trash Compactor
    Standard status
    Active
    Size
    2,400 SF
    Lot size
    0.22 Acres

    Utilities

    Heating system
    Wall Furnace
    Water source
    Public

    Building Details

    Year built
    1951
    Number of units
    3
    Flooring type
    Laminate, Hardwood, Tile
    Roof type
    Flat

    We can help!

    Listing Contact
    Kelly Mechem
    Kelly Mechem

    Listing agent Kelly Mechem License #01959885

    Listing office Bailey Properties 9119 Soquel Dr, Aptos, CA

    Listing date May 31, 2026

    MLS# ML82043783 Listing URL

    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.

    HighLights

    • Triplex at 2545 Mar Vista Dr, Aptos, CA 95003 with two 1‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit
    • Bonus artist studio and workshop in addition to the three living units
    • Approximately 2,400 sq ft total living area on a 9,409 sq ft lot
    • C‑1 zoning for flexible residential or mixed‑use possibilities
    • Built in 1951; wall furnace heating; flat roof; assigned parking
    • Public water service; granite and tile countertops; hood over range; gas oven/range; trash compactor

    Overview

    This for-sale triplex at 2545 Mar Vista Dr, Aptos, CA 95003 includes three separate living units plus an additional artist studio and workshop space. There are two 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit, providing varied floorplans within the same property. The combined total living area is approximately 2,400 square feet, situated on a 9,409 square-foot lot. The property is being marketed as a “diamond in the rough,” indicating a value-add condition for the right buyer or operator.

    The property is located in the heart of Aptos and is zoned C-1. The public remarks also reference a nearby under-construction Mar Vista Pedestrian Bridge, positioned to provide closer access to Seacliff State Beach, along with restaurants, shops, and coastal amenities.

    For buyers and operators seeking flexibility, the configuration supports multiple options, including multi-generational living with an additional studio/workshop space, or separating the units for rental use. The C-1 zoning provides a broader framework for considering residential or mixed-use possibilities, subject to applicable regulations. This is a practical fit for contractors and owner-users who want to evaluate the space, plan improvements, and tailor the property to their intended use.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $97.9k $40.80
    − Vacancy −$2.3k −$0.97
    EGI $95.6k $39.83
    − OpEx −$28.7k −$11.95
    NOI $66.9k $27.88
    2,400 SF · lease $40.80/SF/yr · vacancy 2.38% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $955.9K
    $836.4K – $1.12M (±1% cap)
    NOI $66,913 @ 7.0% cap · market cap 6.70%
    Second Best
    Apartment 5plus
    $882.5K
    $772.2K – $1.03M (±1% cap)
    NOI $61,776 @ 7.0% cap · market cap 6.18%
    Theoretical Best
    Retail
    $1.37M
    $1.20M – $1.60M (±1% cap)
    NOI $96,062 @ 7.0% cap · market cap 9.62%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Aptos
    County
    Santa Cruz
    State
    California
    Longitude
    -121.916889
    Latitude
    36.981693

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      Triplex in Aptos with three units and artist studio.
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    FAQs

    What type of property is this?
    Triplex - Three residential units plus a separate artist studio offer flexible living or income use under C-1 zoning.
    Where is this triplex located?
    The property is located at 2545 Mar Vista DR Aptos, CA.
    What is the asking price?
    The asking price for this property is $999,000.
    What are key features of this property?
    This property features: Triplex at 2545 Mar Vista Dr, Aptos, CA 95003 with two 1‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit; Bonus artist studio and workshop in addition to the three living units; Approximately 2,400 sq ft total living area on a 9,409 sq ft lot
    (831) 334-7707
    We can help!
    Listing Contact
    Kelly Mechem
    Kelly Mechem
    Real Estate License ID: 01959885
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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