Building Details

Building Size 839 SF

Year Built 1981

Listing Agency: Compass

Listed By: Nick Flageollet Show Phone

Source: Kw

Added: Mar 1 Changed: Oct 15 Last Checked: Oct 16 at 8:28AM

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Investment Insights

Based on property information with market context.

This quadplex property includes a 2-bedroom, 1-bath original residence along with three detached structures. Two of the detached buildings are studio spaces with bathrooms, while the third contains a 1-bedroom, 1-bath layout with a kitchen. The improvements date to 1981 and include a fireplace, deck, patio, porch, and composition exterior elements. Electricity is available on the property.

The offering includes two separate parcels at 11643 Upper Van Allen Road in Felton. Set within a redwood-lined, wooded setting in the Santa Cruz Mountains, the property is near downtown Felton, local shops, and scenic hiking trails. The existing layouts provide distinct spaces for renovation or continued use, subject to applicable requirements.

Key Highlights

• Quadplex classification with four distinct living spaces
• Original 2‑bedroom, 1‑bath residence
• Two detached studio structures, each with a bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,392

Cap Rate

7.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$467,840 $467.8K

Cap Rate 7%

$334,171 $334.2K

Cap Rate 9%

$259,911 $259.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 839 SF

Gross rent

$34.2K $40.80/SF

− Vacancy

−$815 −$0.97/SF

EGI

$33.4K $39.83/SF

− OpEx

−$10.0K −$11.95/SF

NOI

$23.4K $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 Rate 5%

$467,840

Cap Rate 7%

$334,171

Cap Rate 9%

$259,911

Alternative Uses

Best Use

Multifamily LT 5

$334.2K

$292.4K – $389.9K (±1% cap)

NOI $23,392 @ 7.0% cap · market cap 7.55%

Second Best

Apartment 5plus

$308.5K

$270.0K – $359.9K (±1% cap)

NOI $21,596 @ 7.0% cap · market cap 6.97%

Theoretical Best

Retail

$479.7K

$419.8K – $559.7K (±1% cap)

NOI $33,582 @ 7.0% cap · market cap 10.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Real Estate Agency Building Supply Furniture & Home Goods Carpet & Flooring Store (Bike/Boat/Book/etc) Store Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

22

Businesses Nearby

Explore this area Business Placement

Demographics for 95018, CA

8,003

Population

3,029

Households

2.6

Avg Household Size

45

Median Age

57%

College-Educated

97%

High-School Grad

17.4 sq mi

ZIP Area

460

Density / Sq Mi

$119,130

Median Household Income

$64,632

Median Earnings

$2,259

Median Rent

$778,100

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Four distinct living spaces occupy a wooded mountain setting near downtown Felton, shops, and hiking trails.

Where is this quadplex located?

The property is located at 11643 Upper Van Allen Road Felton, CA.

What is the asking price?

The asking price for this property is $310,000.

What are key features of this property?

This property features: Quadplex classification with four distinct living spaces; Original 2‑bedroom, 1‑bath residence; Two detached studio structures, each with a bathroom