$3,800,000
About this home
Turnkey multi-unit investment opportunity in a convenient Midtown Santa Cruz location. The property features five residential units across three structures plus a vacant rear portion of the parcel offering potential for future development. Unit mix includes a 3BR/2BA single-family home (420 Capitola Rd Ext) with an attached studio (420A), a detached 1BR/1BA home (422), and a duplex with a 2BR/1BA unit (422A) and a 2BR/1.5BA unit (424) sharing one wall. Additional improvements include covered parking, a shared laundry area, and several accessory structures. The parcel is primarily designated Urban Medium Residential and zoned RM-4, providing potential flexibility for multi-family housing uses. Well located near Midtown Santa Cruz, Ocean Street, Downtown, and area beaches, with convenient access to shopping, dining, and commuter routes. The property has a strong rental history and currently operates as a solid five-unit income property with ample open space and long-term upside potential, including the possibility for future expansion or larger-scale development. Buyer to verify zoning, and development potential with appropriate government agencies.
Facts & features
- Bathrooms
- 0
- Living area
- 4,530 sq ft
- Heating
- Forced Air
- Cooling
- None
- Lot size
- 0.935 acres (40,729 sq ft)
- Year built
- 1950
- Parking
- Covered, Off Street, Uncovered
- Parking spaces
- 7
- Area
- 699 - Not Defined
- County
- Santa Cruz
- Status
- Active
- Property type
- Mixed Use
- Days on market
- 77
- Listed
- 2026-03-16
- Parcel #
- 02608145000
- MLS #
- ML82038869
