Corner-Lot Manufactured
For Sale
$374,900
12-2155 Wharf Rd, Capitola, CA 95010
Two-bedroom residence with an enclosed porch, fenced yard, and on-site laundry.
Property Size1,080 SF
Price / SF$347.13
Days on Market339
Property Features for 12-2155 Wharf Rd
General Information
Standard status
Active
Size
1,080 SF
Property subtype
Manufactured In Park
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Utilities to Site
Yes
Amenities
enclosed porch/deck
fenced yard
indoor washer & dryer
Building Details
Buildings
1
Construction
manufactured home
Listing Agency:
CENTURY 21 Masters
(831) 477-2121
Listed By:
Randy Turnquist
(831) 566-2590
Source:
Exprealty
Added: Oct 2, 2025
Changed: Sep 4
Last Checked: Sep 4 at 2:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CENTURY 21 Masters
Investment Insights
Based on property information with market context.
This two-bedroom, two-bathroom manufactured home occupies a corner lot and receives southern exposure. The residence includes an enclosed porch or deck, a fenced yard, and an indoor washer and dryer with convenient access. The home is located at 12-2155 Wharf Rd in Capitola, California.
The property is part of the Capitola Affordable Home program, with income restrictions that apply. It must serve as the purchaser’s primary residence. The park has recently received new natural gas and electric service lines completed by PG&E.
The property is part of the Capitola Affordable Home program, with income restrictions that apply. It must serve as the purchaser’s primary residence. The park has recently received new natural gas and electric service lines completed by PG&E.
Key Highlights
- Two‑bedroom, two‑bathroom manufactured home
- Corner lot with southern exposure
- Enclosed porch or deck and fenced yard
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
$27,799
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
7.42%
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%
$555,980
$556.0K
Cap Rate 7%
$397,129
$397.1K
Cap Rate 9%
$308,878
$308.9K
Market Conditions
NOI Build-Up for 1,080 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
$51.8K $48.00/SF
− Vacancy
−$1.3K −$1.20/SF
EGI
$50.5K $46.80/SF
− OpEx
−$22.7K −$21.06/SF
NOI
$27.8K $25.74/SF
Area
Santa Cruz County, CA
Vacancy
2.50%
Lease Rate
$48.00 /SF/Yr
Expense Ratio
45.00%
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%
$555,980
Cap Rate 7%
$397,129
Cap Rate 9%
$308,878
Alternative Uses
Best Use
Apartment 5plus
$397.1K
$347.5K – $463.3K
NOI $27,799 @ 7.0% cap · market cap 7.42%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$617.5K
$540.4K – $720.5K
NOI $43,228 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,167
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
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Two-bedroom residence with an enclosed porch, fenced yard, and on-site laundry.
Where is this mobile home & rv park located?
The property is located at 12-2155 Wharf Rd Capitola, CA.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom manufactured home; Corner lot with southern exposure; Enclosed porch or deck and fenced yard
