Updated Duplex With Private
For Sale
Under Contract
$1,599,000
616 Oak DR, Capitola, CA 95010
Residential Income (2-4 units), CAPITOLA, CA
Property Size2,624 SF
Lot Size0.10 Acres
Price / SF$609.38
Days on Market28
Property Features for 616 Oak DR
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R
Bedrooms
4
Rooms
Bedroom 3, Laundry Room, Bedroom 4, Bedroom 1, Bedroom 2
Parking features
Carport, Guest, On Street
Appliances
Cooktop - Electric, Countertop - Other, Hood Over Range
Lot features
Grade - Level
Subdivision
Capitola
Standard status
Active Under Contract
Size
2,624 SF
Lot size
0.10 Acres
Utilities
Heating system
Central, Forced Air, Natural Gas
Water source
Public
Amenities
private balconies
fenced yard/garden area
shared courtyard
shared carport with storage
individual laundry rooms
Building Details
Year built
1966
Number of units
2
Flooring type
Tile, Laminate, Carpet
Roof type
Shingle, Composition
Listing Agency:
Christie's International Real Estate Sereno
(831) 460-1100
Listed By:
Brezsny Associates · License #70010105
(831) 400-7334
Added: Jul 30
Changed: Aug 20
Last Checked: Aug 26 at 9:06AM
MLS# ML82056099
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 1966 duplex contains 2,624 square feet across two two-bedroom, two-bathroom units. Interior improvements include fresh paint, laminate or carpet flooring, refreshed kitchen and bathroom finishes, quartz countertops, contemporary lighting, and a mix of tile, laminate, and carpet flooring. Each unit has a private balcony and its own laundry room. Shared amenities include a fenced yard or garden area, courtyard, and carport with storage. Heating is provided by central forced-air natural gas systems, with public water service and shingle or composition roofing.
The property occupies a 0.1-acre lot in Capitola, within a 10-minute walk of Capitola Beach and Capitola Village restaurants and shops. Gayle's Bakery, Capitola Produce, and nearby coffee shops are approximately a three-minute walk away, while Nob Hill Grocery, Capitola Wharf, and Shadowbrook are minutes from the property. Zoning is R.
The property occupies a 0.1-acre lot in Capitola, within a 10-minute walk of Capitola Beach and Capitola Village restaurants and shops. Gayle's Bakery, Capitola Produce, and nearby coffee shops are approximately a three-minute walk away, while Nob Hill Grocery, Capitola Wharf, and Shadowbrook are minutes from the property. Zoning is R.
Key Highlights
- Two 2BR/2BA units totaling 2,624 square feet
- 0.1‑acre lot in Capitola
- Private balconies, fenced yard or garden area, and shared courtyard
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$73,158
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,463,160
$1.5M
Cap Rate 7%
$1,045,114
$1.0M
Cap Rate 9%
$812,867
$812.9K
Market Conditions
NOI Build-Up for 2,624 SF
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.
Gross rent
$107.1K $40.80/SF
− Vacancy
−$2.5K −$0.97/SF
EGI
$104.5K $39.83/SF
− OpEx
−$31.4K −$11.95/SF
NOI
$73.2K $27.88/SF
Area
Santa Cruz County, CA
Vacancy
2.38%
Lease Rate
$40.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,463,160
Cap Rate 7%
$1,045,114
Cap Rate 9%
$812,867
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$914.5K – $1.22M
NOI $73,158 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$964.9K
$844.3K – $1.13M
NOI $67,542 @ 7.0% cap · market cap 4.22%
Theoretical Best
Retail
$1.50M
$1.31M – $1.75M
NOI $105,028 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,835
Businesses Nearby
Explore this area
Business Placement
Demographics for 95010, CA
9,080
Population
4,741
Households
1.9
Avg Household Size
47
Median Age
46%
College-Educated
91%
High-School Grad
1.4 sq mi
ZIP Area
6,486
Density / Sq Mi
$96,701
Median Household Income
$53,704
Median Earnings
$2,370
Median Rent
$781,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two two-bedroom units include shared outdoor areas, carport storage, and individual laundry rooms.
Where is this duplex located?
The property is located at 616 Oak DR Capitola, CA.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Two 2BR/2BA units totaling 2,624 square feet; 0.1‑acre lot in Capitola; Private balconies, fenced yard or garden area, and shared courtyard
