105 Stephen Road, Aptos, California 95003, Aptos, 95003 - 0 bed, 0 bath
Loading property details...
Aptos, California 95003
This historic Spanish-style fourplex presents a High-Potential Investment Opportunity with a List Price of $1,745,000—positioned well below the $1,784,010 Fair Market Value by 2%. This valuation gap offers $39,010 in Instant Equity. Featuring a Condition Rating of 3, the property offers stable rental demand through its separately metered units and prime Rio del Mar location. This multifamily asset is an ideal acquisition for Buy-and-Hold Investors or 1031 Exchange buyers seeking a legacy coastal property.
Property is move-in ready.
While the structure dates to 1932, the property is well-maintained with significant recent updates. Unit 1 features a modern remodeled kitchen with white shaker cabinets and stone counters (<5 years), and Unit 4 has fresh paint and flooring. The units are separately metered and appear move-in ready, though some original architectural elements and older interior doors remain.
Situated in the highly coveted Rio del Mar Beach area just steps from the sand, this property offers exceptional appreciation potential and high tenant demand in a supply-constrained market.
The property features four separately metered units, which simplifies utility management and reduces owner operating expenses while providing a stable multi-stream rental income.
Built in 1932, this Spanish-style fourplex possesses unique character and timeless aesthetic appeal that distinguishes it from modern developments and attracts quality tenants.
Given the building's 1932 construction date, buyers should anticipate potential capital expenditures associated with aging infrastructure and coastal environmental wear.
With a modest 1,830 square foot lot for four units, the property likely lacks significant on-site parking and private outdoor amenities, which may impact long-term rental premiums.
Timeless Spanish Charm in the Heart of Rio del Mar Beach. A rare opportunity to own one of the original Spanish-style fourplexes in sought-after Rio del Mar Beach. Built in 1932, this property reflects the architectural heritage of California's coastal communities while offering the stability of an exceptional investment. Situated on a single parcel moments from the sand, the fourplex features four one-bedroom, one-bath units a desirable mix that attracts tenants and strong rental demand in one of Santa Cruz's most coveted beachside neighborhoods. Units are separately metered. Recent improvements include a remodeled kitchen in Unit 1 and new paint and flooring in Unit 4. Residents enjoy an effortless coastal lifestyle steps from the beach, with Cabrillo College minutes away, Nisene Marks nearby for hiking and biking, and the shops and charm of Aptos Village close at hand. With multifamily development extremely limited and coastal properties increasingly hard to acquire, opportunities like this are rare historic architecture, a prime location, and lasting appreciation in one legacy asset. Ideal for expanding a portfolio, completing a 1031 exchange, or securing a trophy coastal asset this iconic fourplex is a true opportunity to own a piece of Santa Cruz County history.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 2,532 | - |
| Lot Size | 1,830 | - |
| Price | $1.75M | $2.42M |
| Price per sq ft | $689 | $2.4K |
| Built year | 1932 | 0 |
| HOA | $0 | $0 |
| Days on market | 2 | 78 |
Jul 21, 2026
$1,745,000
Initial Listing