420 Capitola Road, Santa Cruz, California 95062, Santa Cruz, 95062 - 0 bed, 0 bath
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Santa Cruz, California 95062
Analysis of 420 Capitola Road, Santa Cruz, California 95062 is currently available with a list price of $3,800,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Santa Cruz Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is move-in ready.
The property is a well-maintained multi-unit investment that appears move-in ready. While originally built in 1950, the interiors have been significantly updated with modern kitchens featuring stainless steel appliances, updated flooring, recessed lighting, and renovated bathrooms. The exterior and grounds are tidy, though some minor wear like driveway cracking is visible, consistent with a 'Good' rating.
This turnkey investment features five residential units across three separate structures, providing immediate cash flow and mitigating vacancy risk through a varied unit mix.
The oversized 40,729 sqft lot includes a vacant rear portion and RM-4 zoning, offering rare potential for high-density expansion or large-scale multi-family redevelopment.
Ideally situated near Downtown Santa Cruz, beaches, and major commuter routes, the property benefits from high tenant demand and long-term neighborhood appreciation.
With the original structures dating back to 1950, the property may require higher long-term maintenance budgets and capital improvements compared to modern builds.
Realizing the full potential of the vacant land requires navigating Santa Cruz's rigorous zoning and government approval processes, which can be time-consuming and costly.
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.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1950 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Mar 16, 2026
$3,800,000
Initial Listing