
Aptos, California 95003
This Residential Income Quadruplex presents a Strong Value Opportunity, listed at $1,595,000—positioned well below the $1,679,010 Fair Market Value by 5%. This valuation gap offers $84,010 in Instant Equity for the buyer. With a Condition Rating of 3, the property features recent unit upgrades and separate metering, ensuring immediate rental viability. Its prime Rio del Mar location provides high demand for this legacy asset. This is an ideal acquisition for Buy-and-Hold Investors or 1031 Exchange Buyers seeking coastal stability.
Property is move-in ready.
Although originally built in 1932, the property is well-maintained and functional with recent capital improvements. These include a fully remodeled kitchen in Unit 1 with modern cabinetry and stainless steel sinks, plus new paint and flooring in Unit 4. The presence of separate metering and the clean, move-in ready condition of the photographed units align with the 'Good' criteria for renovated older structures.
Situated just steps from Rio del Mar Beach, this property offers an unparalleled coastal lifestyle and high rental demand in one of Santa Cruz County's most coveted neighborhoods.
As a separately metered fourplex in an area with extremely limited multifamily development, this asset provides strong income potential and simplified utility management for the owner.
Built in 1932, the Spanish-style architecture offers a unique 'legacy' aesthetic and timeless charm that distinguishes it from modern builds and attracts long-term tenants.
With a lot size of only 1,830 sqft for a 2,532 sqft building, the property offers very little private outdoor space or potential for on-site parking expansion.
The 1932 construction date suggests that despite recent unit updates, the property may require significant ongoing investment in aging infrastructure and structural systems.
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 | 2,400 |
| Lot Size | 1,830 | 9,409 |
| Price | $1.59M | $1.69M |
| Price per sq ft | $630 | $1.4K |
| Built year | 1932 | 1951 |
| HOA | $0 | $0 |
| Days on market | 50 | 78 |
Aug 13, 2026
$1,595,000
$1,645,000
-3% Price Drop
Initial Listing
Jul 29, 2026
$1,645,000
$1,745,000
-6% Price Drop
Initial Listing
Jul 21, 2026
$1,745,000
Initial Listing