9-Unit Apartment
For Sale
$3,675,000
Laverne, Aptos, CA 95003
ResidentialIncome, Aptos, CA
Property Size5,578 SF
Lot Size0.19 Acres
Price / SF$658.84
Days on Market17
Property Features for Laverne
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-2.5
Parking features
On Street, Carport
Appliances
CooktopElectric, ExhaustFan, Microwave, OvenBuiltIn, OvenElectric
Elementary school
PajaroValleyUnified
High school
PajaroValleyUnified
Elementary school district
PajaroValleyUnified
High school district
PajaroValleyUnified
Subdivision
Seacliff_2
Standard status
Active
APN
038-074-24-000
Size
5,578 SF
Lot size
0.19 Acres
Utilities
Heating system
Natural Gas
Water source
Public
Amenities
on-site laundry
Building Details
Year built
1962
Flooring type
Linoleum, Carpet
Roof type
Composition
Listing Agency:
Bailey Properties
(831) 688-7434
Listed By:
Ed Gagne · License #01450406
(831) 254-1432
Added: Oct 5
Changed: Oct 21
Last Checked: Oct 21 at 12:06PM
MLS# ML82063613
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 5,578-square-foot apartment property contains nine residences: one studio with 500 square feet, two one-bedroom, one-bathroom units at 550 square feet each, and six two-bedroom, one-bathroom units at 675 square feet each. Kitchens have electric cooktops, built-in electric ovens, microwaves, and exhaust fans; heating is provided by natural gas wall furnaces. Coin-operated laundry and carport parking for each apartment are on site. The building dates to 1962 and occupies 0.188 acres, with RM-2.5 zoning.
The property is an eight-minute walk from the beach and is near Marianne’s Ice Cream, Manuel’s, and the Sno-White Drive Up. The reported vacancy rate is 0%.
The property is an eight-minute walk from the beach and is near Marianne’s Ice Cream, Manuel’s, and the Sno-White Drive Up. The reported vacancy rate is 0%.
Key Highlights
- Nine units: one studio, two 1‑bedroom/1‑bathroom units, and six 2‑bedroom/1‑bathroom units
- Unit sizes are 500 square feet, 550 square feet, and 675 square feet, respectively
- Reported vacancy rate of 0%
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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Property Analytics
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Open Analytics
Lease Details
9
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
600
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The property combines individual carport parking with on-site coin-operated laundry.
Where is this apartment building located?
The property is located at Laverne 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: Nine units: one studio, two 1‑bedroom/1‑bathroom units, and six 2‑bedroom/1‑bathroom units; Unit sizes are 500 square feet, 550 square feet, and 675 square feet, respectively; Reported vacancy rate of 0%
