9-Unit Apartment
For Sale
$3,675,000
513 Laverne AVE, Aptos, CA 95003
Apartment layouts are complemented by coin-operated laundry and a dedicated carport space for each unit.
Property Size5,578 SF
Price / SF$658.84
Days on Market24
Property Features for 513 Laverne AVE
General Information
Standard status
Active
Size
5,578 SF
Property subtype
FiveOrMoreUnits
Building Details
Building Size
5,578 SF
Year Built
1962
Listing Agency:
Century 21 Masters
Listed By:
Desiree Soliz · License #01469079
(209) 587-2259
Source:
Desireesolizrealtor
Added: Oct 5
Changed: Oct 27
Last Checked: Oct 27 at 3:23AM
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
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Investment Insights
Based on property information with market context.
This 9-unit apartment property in Aptos includes one studio with 500 square feet, two 1-bedroom/1-bathroom units with 550 square feet each, and six 2-bedroom/1-bathroom units with 675 square feet each. Kitchens have electric cooktops, built-in electric ovens, microwaves, and exhaust fans. Gas wall furnaces provide heat, and coin-operated laundry machines are available on site. The property was built in 1962.
The property is an 8-minute walk from the beach and is also near Marianne’s Ice Cream, Manuel’s, and the Sno White Drive Up. A rear carport provides an individual space for each apartment. The reported vacancy rate is 0%.
The property is an 8-minute walk from the beach and is also near Marianne’s Ice Cream, Manuel’s, and the Sno White Drive Up. A rear carport provides an individual space for each apartment. The reported vacancy rate is 0%.
Key Highlights
- 9 apartments: one studio, two 1‑bedroom/1‑bathroom units, and six 2‑bedroom/1‑bathroom units
- Unit sizes: 500 square feet, 550 square feet, and 675 square feet, respectively
- Each apartment has an individual carport space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$143,578
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,871,560
$2.9M
Cap Rate 7%
$2,051,114
$2.1M
Cap Rate 9%
$1,595,311
$1.6M
Market Conditions
NOI Build-Up for 5,578 SF
Gross rent
$267.7K $48.00/SF
− Vacancy
−$6.7K −$1.20/SF
EGI
$261.1K $46.80/SF
− OpEx
−$117.5K −$21.06/SF
NOI
$143.6K $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 Rate 5%
$2,871,560
Cap Rate 7%
$2,051,114
Cap Rate 9%
$1,595,311
Alternative Uses
Best Use
Apartment 5plus
$2.05M
$1.79M – $2.39M
NOI $143,578 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$3.19M
$2.79M – $3.72M
NOI $223,265 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
600
Businesses Nearby
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Business Placement
Demographics for 95003, CA
24,706
Population
11,728
Households
2.1
Avg Household Size
50
Median Age
54%
College-Educated
96%
High-School Grad
32.4 sq mi
ZIP Area
763
Density / Sq Mi
$140,990
Median Household Income
$63,609
Median Earnings
$2,548
Median Rent
$1,154,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartment layouts are complemented by coin-operated laundry and a dedicated carport space for each unit.
Where is this apartment building located?
The property is located at 513 Laverne AVE Aptos, CA.
What is the asking price?
The asking price for this property is $3,675,000.
What are key features of this property?
This property features: 9 apartments: one studio, two 1‑bedroom/1‑bathroom units, and six 2‑bedroom/1‑bathroom units; Unit sizes: 500 square feet, 550 square feet, and 675 square feet, respectively; Each apartment has an individual carport space
