Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Aptos Triplex with Studio Title is generated by Realmo AI

    APTOS, Aptos 95003

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    $999,000

    MULTI_FAMILY - APTOS

    Property size:
    2,400 SF
    Lot size:
    0.22 Acres
    Price / SF:
    $416/SF
    Added:
    May 3, 2026
    Days on Market:
    19
    Last Refresh:
    May 21 at 6:06 pm

    Property Features for APTOS

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    C-1
    Bedrooms
    4
    Rooms
    Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 1
    Parking
    8
    Parking features
    Assigned
    Appliances
    Appliances - Vary by Unit, Countertop - Granite, Countertop - Tile, Hood Over Range, Oven Range - Gas, Trash Compactor
    Standard status
    Active Under Contract
    Size
    2,400 SF
    Lot size
    0.22 Acres

    Utilities

    Heating system
    Wall Furnace
    Water source
    Public

    Building Details

    Year built
    1951
    Number of units
    3
    Flooring type
    Laminate, Hardwood, Tile
    Roof type
    Flat

    We can help!

    Listing Contact
    Kelly Mechem
    Kelly Mechem

    Listing agent Kelly Mechem License #01959885

    Listing office Bailey Properties 9119 Soquel Dr, Aptos, CA

    Listing date May 3, 2026

    MLS# ML82043783 Listing URL

    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.

    HighLights

    • Rare triplex opportunity in a prime Aptos coastal location near Seacliff State Beach.
    • Three separate living units: two 1‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit.
    • Includes a bonus artist studio and workshop space.
    • Generous 9,409 sq ft lot with C‑1 zoning allowing for flexible residential or mixed‑use possibilities.
    • Convenient access to Seacliff State Beach, restaurants, and shops via the under‑construction Mar Vista Pedestrian Bridge.
    • Total living area of approximately 2,400 sq ft.

    Overview

    This triplex, located in Aptos, CA, presents an opportunity for investors, multi-generational families, or owner-users. The property includes three separate living units: two 1-bedroom/1-bath units and one 2-bedroom/1-bath unit, along with a bonus artist studio and workshop. The total living area is approximately 2,400 square feet, situated on a 9,409 square foot lot. The property is zoned C-1, allowing for flexible residential or mixed-use possibilities. The under-construction Mar Vista Pedestrian Bridge will provide access to Seacliff State Beach, restaurants, shops, and coastal amenities. This multi-residential property is located in a coastal location.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $743.5K
    NOI $66,913 @ 9.00% cap · cautious / downside scenario
    Moderate
    $955.9K
    NOI $66,913 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.34M
    NOI $66,913 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $97.9k $40.80
    − Vacancy −$2.3k −$0.97
    EGI $95.6k $39.83
    − OpEx −$28.7k −$11.95
    NOI $66.9k $27.88
    2,400 SF · lease $40.80/SF/yr · vacancy 2.38% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $955.9K
    $836.4K – $1.12M (±1% cap)
    NOI $66,913 @ 7.0% cap · market cap 6.70%
    Second Best
    Apartment 5plus
    $882.5K
    $772.2K – $1.03M (±1% cap)
    NOI $61,776 @ 7.0% cap · market cap 6.18%
    Theoretical Best
    Retail
    $1.37M
    $1.20M – $1.60M (±1% cap)
    NOI $96,062 @ 7.0% cap · market cap 9.62%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Map

    City
    Aptos
    County
    Santa Cruz
    State
    Longitude
    -121.916889
    Latitude
    36.981693

    FAQs

    What type of property is this?
    Triplex - Triplex with artist studio near Seacliff State Beach.
    Where is this triplex located?
    The property is located at APTOS Aptos.
    What is the asking price?
    The asking price for this property is $999,000.
    What are key features of this property?
    This property features: Rare triplex opportunity in a prime Aptos coastal location near Seacliff State Beach.; Three separate living units: two 1‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit.; Includes a bonus artist studio and workshop space.
    (831) 334-7707
    We can help!
    Listing Contact
    Kelly Mechem
    Kelly Mechem
    Real Estate License ID: 01959885
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    APTOS, 95003
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!