2945 Capitola Road, Santa Cruz, California 95062, Santa Cruz, 95062 - bed, bath
ACTIVE UNDER CONTRACT$1,600,000
2945 Capitola Road, Santa Cruz, California 95062
0Bed
0Bath
2,883Sqft
9,235Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Investment Opportunity: This quadruplex offers significant income-generating potential in a high-demand rental market, ideal for portfolio expansion.
Top Cons:
Required Capital Improvements: With only one unit updated, significant investment will be needed for renovations in the remaining three units to maximize rental income and modernize the property.
Compared to the nearby listings
Price:$1.60M vs avg $1.80M ($-200,000)50%
Size:2,883 sqft vs avg 2,821 sqft50%
Price/sqft:$555 vs avg $61450%
More Insights
This property has been on the market for 172 days.
Built in 1964 (61 years old).
Condition: The property was built in 1964, making it 60 years old. While the exterior appears maintained, the interior images of an unupdated unit reveal a very dated condition. The kitchen features original or very old dark wood cabinets, old white appliances, and dated vinyl/linoleum flooring. The living room has worn carpet and an old light fixture. The description explicitly states that 'One unit has already been updated, leaving plenty of room for further improvements to maximize rental income,' indicating that the majority of the units (3 out of 4) are in the visibly poor and outdated condition shown. To bring these units to a competitive standard for rental income, substantial rehabilitation and modernization of kitchens, bathrooms, flooring, and potentially major systems (electrical, plumbing, HVAC) would be required, aligning with the 'Poor' condition criteria.
Year Built
1964
Close
-
List price
$1.6M
Original List price
$1.88M
Price/Sqft
$555
HOA
-
Days on market
172 Days
Sold On
2025-09-06
MLS number
ML81998369
Home ConditionPoor
Features
Deck
Patio
View-
About this home
This ideally located fourplex near Capitola offers excellent investment potential just minutes from the beach. Each of the four 2-bedroom, 1-bath units span 720 sq. ft. and feature a private patio or deck, providing residents with their own outdoor space. One unit has already been updated, leaving plenty of room for further improvements to maximize rental income. Positioned just a short walk from Capitola Mall, popular restaurants, and the shopping hub of 41st Avenue, this property is perfectly situated for tenant convenience. In addition, its prime coastal location less than 1.5 miles from the world-renowned Pleasure Point surf break makes it a highly desirable place to live. A shared laundry room adds to the functionality of the building. For investors looking to scale their portfolio, the adjacent fourplex at 2935 Capitola Road is also available for sale, providing a rare opportunity to own two income-generating properties in a sought-after rental market.
Condition Rating
Poor
The property was built in 1964, making it 60 years old. While the exterior appears maintained, the interior images of an unupdated unit reveal a very dated condition. The kitchen features original or very old dark wood cabinets, old white appliances, and dated vinyl/linoleum flooring. The living room has worn carpet and an old light fixture. The description explicitly states that 'One unit has already been updated, leaving plenty of room for further improvements to maximize rental income,' indicating that the majority of the units (3 out of 4) are in the visibly poor and outdated condition shown. To bring these units to a competitive standard for rental income, substantial rehabilitation and modernization of kitchens, bathrooms, flooring, and potentially major systems (electrical, plumbing, HVAC) would be required, aligning with the 'Poor' condition criteria.
Pros & Cons
Pros
Prime Investment Opportunity: This quadruplex offers significant income-generating potential in a high-demand rental market, ideal for portfolio expansion.
Exceptional Coastal Location: Situated minutes from Capitola Beach and the world-renowned Pleasure Point surf break, ensuring strong tenant appeal and desirability.
High Tenant Convenience: Proximity to Capitola Mall, popular restaurants, and the 41st Avenue shopping hub provides exceptional walkability and convenience for residents.
Individual Outdoor Spaces: Each of the four units features a private patio or deck, a desirable amenity that enhances tenant comfort and property value.
Scalability Potential: The availability of the adjacent fourplex at 2935 Capitola Road presents a rare opportunity to acquire multiple income properties and scale an investment portfolio.
Cons
Required Capital Improvements: With only one unit updated, significant investment will be needed for renovations in the remaining three units to maximize rental income and modernize the property.
Extended Market Time: The property's 172 days on market and recent price reduction suggest potential challenges in valuation or initial market reception, indicating a need for strategic pricing or further improvements.
Older Property & Unit Size: Built in 1964, the property may have aging infrastructure, and the 720 sq. ft. unit size could be a limiting factor for some prospective tenants or command lower rents compared to larger units.