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    The Largest CRE Database in the US with Over 1 Million Listings

    318 Park Ave Capitola, CA 95010

    Sponsored
    For Sale
    $1,799,000

    Multiple Dwellings / Structures - CAPITOLA, CA

    Property size:
    712 SF
    Days on Market:
    3
    Last Refresh:
    Feb 15 at 2:06 pm

    Property Features for 318 Park Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Security features
    Secured Garage/Parking, Security Gate
    Zoning
    Residential
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Kitchen
    Bedrooms
    3
    Parking
    5
    Parking features
    Garage, Garage - Detached
    Interior features
    None, Tankless Water Heater, Vaulted Ceiling, Secured Garage / Parking
    Exterior features
    Security Fence
    Fencing
    Fenced, Gate
    Appliances
    Range, Range - Built In, Range - Gas
    Size
    712 SF

    Utilities

    Utilities
    Water Available
    Heating system
    Other (Heating), Radiant, Wall Furnace
    Cooling system
    Other (Cooling)

    Building Details

    Year built
    1938
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Joe Wright
    Joe Wright

    Bailey Properties (831) 688-7434

    Listing agent Joe Wright (831) 688-7434 License #00865000

    Listing date Feb 13, 2026

    MLS# ML82034991 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.

    Learn more

    Property Insight Report

    Overview

    Capitola Multifamily with Income Potential

    This Capitola property presents a blend of coastal charm, modern upgrades, and income potential. It features a main home with 2 bedrooms and 1 bath, along with a permitted 1 bedroom, 1 bath Accessory Dwelling Unit (ADU) and an oversized 2-car garage, completed in 2023. The property, secured by electric gates on both sides, provides parking for up to 7 vehicles. The property offers flexible space for guests, extended family, or work-from-home living. Both homes showcase high-quality finishes. Additional features include tankless water heaters in both homes. The newer ADU features split-system heating and air conditioning, radiant bathroom floor heating, a built-in KitchenAid gas range and refrigerator, and an in-unit washer and dryer. A heated outdoor shower is available for rinsing off after a day at the beach. This turnkey Capitola opportunity offers privacy, versatility, and modern comfort, and is located just minutes from the beach. The property size is 712 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Dental Office Spa & Massage Center 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
    Capitola
    County
    Santa Cruz
    State
    California
    Longitude
    -121.9482131
    Latitude
    36.9762973

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    FAQs

    What type of property is this?
    Duplex - Coastal charm meets modern upgrades, offering income potential.
    Where is this duplex located?
    The property is located at 318 Park Ave Capitola, CA.
    What is the asking price?
    The asking price for this property is $1,799,000.
    What are key features of this property?
    This property features: - Permitted 1 bedroom, 1 bath ADU (completed in 2023) offers income potential or flexible living space.; - Secure, gated property with parking for up to 7 vehicles.; - Main home (2 bed, 1 bath) and ADU feature high-quality finishes and modern upgrades.
    (831) 818-2013
    Request Owner's contact information
    318 Park Ave Capitola, CA 95010
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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
    318 Park Ave Capitola, CA 95010
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    We can help!
    Listing Contact
    Joe Wright
    Joe Wright
    Real Estate License ID: 00865000
    (831) 818-2013 (831) 688-7434
    Learn more
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