140 Marina Avenue, Aptos, California 95003, Aptos, 95003 - bed, bath
ACTIVE$1,595,000
140 Marina Avenue, Aptos, California 95003
0Bed
0Bath
500Sqft
1,176Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Diverse Income Streams: Mixed-use property featuring one commercial and two residential units, providing multiple revenue sources and enhanced investment stability.
Top Cons:
Age of Property: Built in 1959, the property is over 60 years old, which may necessitate significant updates, repairs, or ongoing maintenance to meet modern standards.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1959 (66 years old).
Condition: The property was built in 1959, making it 65 years old. While the exterior image shows some signs of upkeep, such as what appear to be newer windows, the overall appearance is dated. The MLS description highlights the 'Age of Property' as a weakness, noting it 'may necessitate significant updates, repairs, or ongoing maintenance to meet modern standards.' As a rental property with a 'strong rental history,' it is likely functional and maintained to a habitable standard, but without interior photos, it's reasonable to assume the kitchens and bathrooms, along with other interior features, are outdated and would require minor to moderate updates to meet current aesthetic and functional expectations. This aligns with the 'Fair' condition criteria of being aged but maintained through regular upkeep, with major components functional but showing signs of being outdated.
Year Built
1959
Close
-
List price
$1.59M
Original List price
$1.65M
Price/Sqft
$3,190
HOA
-
Days on market
-
Sold On
-
MLS number
ML82009437
Home ConditionFair
Features
Patio
View-
About this home
Mixed use commercial and residential rental located near the beach in the Rio Del Mar neighborhood of Aptos. Strong rental history for all three units. Live in one while you collect rent from the others. Or maybe keep one as vacation home by the beach for yourself while the other units generate income. 113 Venetian is approximately 718 square foot commercial space. The backside of the build is 140 Marina which is approximately 726 square foot two bedroom residential rental. 140 A Marina is a standalone one bedroom rental which is approximately 426 square feet. Please do not disturb the tenants.
Condition Rating
Fair
The property was built in 1959, making it 65 years old. While the exterior image shows some signs of upkeep, such as what appear to be newer windows, the overall appearance is dated. The MLS description highlights the 'Age of Property' as a weakness, noting it 'may necessitate significant updates, repairs, or ongoing maintenance to meet modern standards.' As a rental property with a 'strong rental history,' it is likely functional and maintained to a habitable standard, but without interior photos, it's reasonable to assume the kitchens and bathrooms, along with other interior features, are outdated and would require minor to moderate updates to meet current aesthetic and functional expectations. This aligns with the 'Fair' condition criteria of being aged but maintained through regular upkeep, with major components functional but showing signs of being outdated.
Pros & Cons
Pros
Diverse Income Streams: Mixed-use property featuring one commercial and two residential units, providing multiple revenue sources and enhanced investment stability.
Proven Rental Performance: The property boasts a strong rental history for all three units, indicating reliable income generation and established tenant demand.
Desirable Coastal Location: Strategically located near the beach in the sought-after Rio Del Mar neighborhood of Aptos, enhancing its appeal for both long-term and potential vacation rentals.
Flexible Investment Strategy: Offers versatile ownership options, allowing for owner-occupancy with supplemental rental income or full investment with potential for vacation rental use.
Recent Price Adjustment: A recent price reduction from $1.65M to $1.595M may present a more attractive entry point and increased value proposition for potential buyers.
Cons
Age of Property: Built in 1959, the property is over 60 years old, which may necessitate significant updates, repairs, or ongoing maintenance to meet modern standards.
Limited Lot Size: With a lot size of only 1176 square feet, the property offers minimal outdoor space and limited potential for future expansion or development.
Tenant Occupancy & Access: The instruction 'Please do not disturb the tenants' suggests restricted access for pre-offer inspections and due diligence, which can complicate the buying process.