Triplex With Detached
New
For Sale
$1,199,000
516 Capitola AVE, Capitola, CA 95010
Residential Income (2-4 units), CAPITOLA, CA
Property Size1,526 SF
Lot Size0.08 Acres
Price / SF$785.71
Days on Market2
Property Features for 516 Capitola AVE
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
MU-N
Bedrooms
3
Rooms
Bedroom 3, Bedroom 1, Bedroom 2
Parking
3
Subdivision
Capitola
Standard status
Active
Size
1,526 SF
Lot size
0.08 Acres
Utilities
Heating system
Wall Furnace
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
1948
Number of units
3
Roof type
Composition
Listing Agency:
David Lyng Real Estate
(831) 438-5700
Listed By:
Greg Lukina · License #01949291
(831) 600-5581
Added: Sep 4
Last Checked: Sep 5 at 4:06AM
MLS# ML82060122
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.
Located at 516 Capitola AVE in Capitola, this 1,526-square-foot triplex was built in 1948 and consists of two structures. The front building contains a one-bedroom, one-bath unit and a studio with one bath. A detached rear residence provides two bedrooms and one bath, along with in-unit laundry. Each unit has its own off-street parking space, and the rear residence will be delivered vacant.
The property occupies 0.079 acres and is zoned MU-N, or Mixed Use, Neighborhood. Public water serves the site, and the building has composition roofing and wall-furnace heating. Capitola Village, the beach, restaurants, and shops are described as nearby. Future improvements or redevelopment are subject to City approval.
The property occupies 0.079 acres and is zoned MU-N, or Mixed Use, Neighborhood. Public water serves the site, and the building has composition roofing and wall-furnace heating. Capitola Village, the beach, restaurants, and shops are described as nearby. Future improvements or redevelopment are subject to City approval.
Key Highlights
- Three‑unit configuration across two structures
- Unit mix includes 1‑bedroom/1‑bath, studio/1‑bath, and detached 2‑bedroom/1‑bath residence
- 1,526 square feet on a 0.079‑acre lot
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
$42,545
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
3.55%
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%
$850,900
$850.9K
Cap Rate 7%
$607,786
$607.8K
Cap Rate 9%
$472,722
$472.7K
Market Conditions
NOI Build-Up for 1,526 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
$62.3K $40.80/SF
− Vacancy
−$1.5K −$0.97/SF
EGI
$60.8K $39.83/SF
− OpEx
−$18.2K −$11.95/SF
NOI
$42.5K $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%
$850,900
Cap Rate 7%
$607,786
Cap Rate 9%
$472,722
Alternative Uses
Best Use
Multifamily LT 5
$607.8K
$531.8K – $709.1K
NOI $42,545 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$561.1K
$491.0K – $654.7K
NOI $39,279 @ 7.0% cap · market cap 3.28%
Theoretical Best
Retail
$872.6K
$763.5K – $1.02M
NOI $61,080 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,720
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?
Triplex - Three-unit property with separate structures, individual off-street parking, and a rear residence offered vacant.
Where is this triplex located?
The property is located at 516 Capitola AVE Capitola, CA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Three‑unit configuration across two structures; Unit mix includes 1‑bedroom/1‑bath, studio/1‑bath, and detached 2‑bedroom/1‑bath residence; 1,526 square feet on a 0.079‑acre lot
