Five-Unit Income Property with
420 Capitola Road EXT Santa Cruz, CA 95062
420 Capitola Road EXT, Santa Cruz, CA, 95062
$3,800,000
For Sale
$3,800,000
MULTI_FAMILY - SANTA CRUZ, CA
Property Size4,530 SF
Lot Size0.94 Acres
Price / SF$838.85
Days on Market50
Property Features for 420 Capitola Road EXT
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RM-4
- Bedrooms
- 8
- Rooms
- Bedroom 3, Bedroom 7, Bedroom 4, Bedroom 5, Bedroom 1, Bedroom 2, Bedroom 6, Bedroom 8
- Parking
- 7
- Parking features
- Covered, Off Street
- Standard status
- Active
- Size
- 4,530 SF
- Lot size
- 0.94 Acres
Utilities
- Heating system
- Forced Air
- Water source
- Public
Building Details
- Year built
- 1950
- Roof type
- Composition
Listing Agency
David Lyng Real Estate
(831) 429-5700
1041 41st Ave, CA
Listed by
Kasey Hinchman · License #01424163
(831) 239-3708
Added: Jun 1 Checked: Jul 20 at 11:06 am
MLS# ML82038869
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.
Investment Insights
Based on property information with market context.
This turnkey income property includes five residential units across three separate structures. The configuration features a 3BR/2BA single-family home with an attached studio, a detached 1BR/1BA home, and a duplex containing two units that share one wall. On-site amenities include covered parking and a shared laundry area, along with several accessory structures. A portion of the parcel is currently vacant at the rear.
The parcel is zoned RM-4 and is primarily designated Urban Medium Residential, and the seller notes potential flexibility for multi-family housing uses. The property is described as being in convenient Midtown Santa Cruz, with access to shopping, dining, and commuter routes, and proximity to Downtown and area beaches.
Buyer and tenant considerations should include verifying zoning and any development potential with the appropriate government agencies.
The parcel is zoned RM-4 and is primarily designated Urban Medium Residential, and the seller notes potential flexibility for multi-family housing uses. The property is described as being in convenient Midtown Santa Cruz, with access to shopping, dining, and commuter routes, and proximity to Downtown and area beaches.
Buyer and tenant considerations should include verifying zoning and any development potential with the appropriate government agencies.
Key Highlights
- Five residential units across three structures, including a 3BR/2BA single‑family home with attached studio (420A).
- Detached 1BR/1BA home (422) plus a duplex with two units: 2BR/1BA (422A) and 2BR/1.5BA (424) sharing one wall.
- Off‑street parking with covered parking plus a shared laundry area for residents.
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 | $184.8k | $40.80 |
| − Vacancy | −$4.4k | −$0.97 |
| EGI | $180.4k | $39.83 |
| − OpEx | −$54.1k | −$11.95 |
| NOI | $126.3k | $27.88 |
4,530 SF · lease $40.80/SF/yr · vacancy 2.38% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.80M
$1.58M – $2.10M
NOI $126,298 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$1.67M
$1.46M – $1.94M
NOI $116,602 @ 7.0% cap · market cap 3.07%
Theoretical Best
Retail
$2.59M
$2.27M – $3.02M
NOI $181,318 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Turnkey five-unit residential property across three structures with covered parking and shared laundry space.
Where is this apartment building located?
The property is located at 420 Capitola Road EXT Santa Cruz, CA.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Five residential units across three structures, including a 3BR/2BA single‑family home with attached studio (420A).; Detached 1BR/1BA home (422) plus a duplex with two units: 2BR/1BA (422A) and 2BR/1.5BA (424) sharing one wall.; Off‑street parking with covered parking plus a shared laundry area for residents.
