Two-Residence
New
For Sale
$3,950,000
7431 Mesa Drive, Aptos, CA 95003
ResidentialIncome, Luxury, ModernHighTech, Aptos, CA
Property Size4,730 SF
Lot Size0.50 Acres
Price / SF$835.10
Days on Market7
Property Features for 7431 Mesa Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
RM
Parking features
Oversize, Garage
Window features
Skylight(s)
Interior features
HighCeiling, VaultedCeiling, WalkinCloset
Appliances
Dishwasher, ExhaustFan, GarbageDisposal, HoodOverRange, OvenRangeGas, WasherDryer
Lot features
Grade Gently Sloped, Grade Mostly Level, Views
View
Forest, Ocean
Elementary school
PajaroValleyUnified
High school
PajaroValleyUnified
Elementary school district
PajaroValleyUnified
High school district
PajaroValleyUnified
Subdivision
Aptos
Standard status
Active
APN
03105130
Size
4,730 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Annual Amount
0
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Radiant Floor, Wood
Water source
Public
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Flooring type
Tile
Roof type
Composition
Architectural style
Modern
Listing Agency:
Bailey Properties
(831) 426-4100
Listed By:
Wilhelm Zilliacus · License #01967881
(831) 566-8649
Added: Oct 22
Changed: Oct 27
Last Checked: Oct 28 at 2:06AM
MLS# ML82065359
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.
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Investment Insights
Based on property information with market context.
This under-construction duplex comprises two independent residences on a 0.4962-acre parcel, with 4,730 square feet of combined building area. Each home offers three bedrooms, two full bathrooms, a half bathroom, and a finished two-car garage. Separate utilities, individual solar systems, radiant heated floors, multi-zone climate control, and integrated EV chargers serve the residences. An acoustically engineered shared wall separates the homes.
The property is in Aptos, near Aptos Village, Nisene Marks Forest, hiking and biking trails, and the beach. One residence has views toward Pleasure Point and sunsets; the other faces Monterey Bay and sunrise views.
The property is in Aptos, near Aptos Village, Nisene Marks Forest, hiking and biking trails, and the beach. One residence has views toward Pleasure Point and sunsets; the other faces Monterey Bay and sunrise views.
Key Highlights
- Two residences with 4,730 square feet of combined building area
- Each home has 3 bedrooms, 2 full bathrooms, and a half bathroom
- Each residence includes a finished 2‑car garage and private driveway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$131,874
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,637,480
$2.6M
Cap Rate 7%
$1,883,914
$1.9M
Cap Rate 9%
$1,465,267
$1.5M
Market Conditions
NOI Build-Up for 4,730 SF
Gross rent
$193.0K $40.80/SF
− Vacancy
−$4.6K −$0.97/SF
EGI
$188.4K $39.83/SF
− OpEx
−$56.5K −$11.95/SF
NOI
$131.9K $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%
$2,637,480
Cap Rate 7%
$1,883,914
Cap Rate 9%
$1,465,267
Alternative Uses
Best Use
Multifamily LT 5
$1.88M
$1.65M – $2.20M
NOI $131,874 @ 7.0% cap · market cap 3.34%
Second Best
Apartment 5plus
$1.74M
$1.52M – $2.03M
NOI $121,750 @ 7.0% cap · market cap 3.08%
Theoretical Best
Retail
$2.70M
$2.37M – $3.16M
NOI $189,323 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
898
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?
Duplex - Two independent homes feature separate utilities, private driveways, and individual solar systems.
Where is this duplex located?
The property is located at 7431 Mesa Drive Aptos, CA.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Two residences with 4,730 square feet of combined building area; Each home has 3 bedrooms, 2 full bathrooms, and a half bathroom; Each residence includes a finished 2‑car garage and private driveway
