Three-Unit Multifamily
For Sale
$1,199,000
516 Capitola Avenue, Capitola, CA 95010
Two structures provide separate residences, individual off-street parking, and MU-N mixed-use neighborhood zoning.
Property Size1,526 SF
Price / SF$785.71
Days on Market52
Property Features for 516 Capitola Avenue
General Information
Standard status
Active
Size
1,526 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$13,300
Building Details
Year Built
1948
Listing Agency:
David Lyng Real Estate
Listed By:
Greg Lukina · License #01949291
(831) 600-5581
Source:
Exitrealty
Added: Sep 5
Changed: Oct 25
Last Checked: Sep 15 at 4:19AM
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 David Lyng Real Estate
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Investment Insights
Based on property information with market context.
This 1,526-square-foot triplex was built in 1948 and is arranged across two structures. The front building contains a one-bedroom, one-bath unit and a studio with one bath, while a detached two-bedroom, one-bath residence occupies the rear of the property. Each unit has one off-street parking space. The rear residence includes in-unit laundry and is scheduled to be delivered vacant; the two front units provide existing rental occupancy.
Located at 516 Capitola Avenue in Capitola, the property is near Capitola Village, the beach, restaurants, and shops. MU-N zoning designates the site for mixed-use neighborhood purposes, with any future improvements or redevelopment subject to City approval. An adjacent two-unit property is also available, creating the possibility of acquiring five units across the two neighboring properties.
Located at 516 Capitola Avenue in Capitola, the property is near Capitola Village, the beach, restaurants, and shops. MU-N zoning designates the site for mixed-use neighborhood purposes, with any future improvements or redevelopment subject to City approval. An adjacent two-unit property is also available, creating the possibility of acquiring five units across the two neighboring properties.
Key Highlights
- Three units totaling 1,526 square feet across two structures
- Unit mix includes 1‑bedroom/1‑bath, studio/1‑bath, and 2‑bedroom/1‑bath residences
- Detached rear residence includes in‑unit laundry and will be delivered vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,545
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
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
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 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.
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Location Intelligence
Trade Area within ½ mile
1,720
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Two structures provide separate residences, individual off-street parking, and MU-N mixed-use neighborhood zoning.
Where is this triplex located?
The property is located at 516 Capitola Avenue 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 units totaling 1,526 square feet across two structures; Unit mix includes 1‑bedroom/1‑bath, studio/1‑bath, and 2‑bedroom/1‑bath residences; Detached rear residence includes in‑unit laundry and will be delivered vacant
