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Capitola Road, Santa Cruz, California 95062, Santa Cruz, 95062 - bed, bath

Capitola Road, Santa Cruz, California 95062 home-pic-0
ACTIVE UNDER CONTRACT$1,650,000
Capitola Road, Santa Cruz, California 95062
0Bed
0Bath
2,880Sqft
6,659Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Strong Investment Potential: This fourplex presents an outstanding investment opportunity with clear upside potential, especially given the option to acquire the adjacent property for portfolio expansion.
Top Cons:
One Unit Requires Updates: While three units are updated, one unit remains in its original condition, requiring additional investment to modernize and maximize its rental potential.

Compared to the nearby listings

Price:$1.65M vs avg $1.82M ($-175,000)50%
Size:2,880 sqft vs avg 2,819.5 sqft50%
Price/sqft:$573 vs avg $62350%

More Insights

This property has been on the market for 172 days.
Built in 1962 (63 years old).
Condition: While built in 1962, the listing explicitly states that 'three of the four units have been updated, offering modernized living spaces.' The images confirm these updates are extensive and recent, featuring modern shaker-style cabinets, stainless steel appliances, solid surface countertops, and subway tile backsplashes in the kitchens. Bathrooms also show modern vanities and updated tiling. Flooring consists of clean LVP/laminate and carpet, and lighting includes recessed fixtures. The exterior appears well-maintained for its age. These significant renovations make the majority of the property move-in ready with contemporary finishes, aligning with the 'Good' criteria, despite the original build year and one un-updated unit.
Year Built
1962
Close
-
List price
$1.65M
Original List price
$1.88M
Price/Sqft
$573
HOA
-
Days on market
172 Days
Sold On
2025-09-06
MLS number
ML81998370
Home ConditionGood
Features
Good View:
Deck
Patio
View-

About this home

Located near Capitola, this fourplex presents an outstanding investment opportunity with upside potential. Three of the four 2-bedroom, 1-bath units have been updated, offering modernized living spaces. Each 720 sq. ft. unit features a private patio or deck, creating a comfortable outdoor retreat for tenants. Originally built as a fourplex, a condominium map was recorded in 1981. The property is described as four assessor parcels classified as condominiums, adding flexibility and potential value. Conveniently situated within walking distance to Capitola Mall, local restaurants, and 41st Avenue, this property ensures a highly desirable lifestyle for tenants. Additionally, it's less than 1.5 miles the world-famous Pleasure Point surf spot, making it a sought-after rental location. For those looking to expand their portfolio, the adjacent fourplex at 2945 Capitola Road is also available for sale, creating a rare opportunity to own two income-producing properties side by side with conventional loans.

Condition Rating
Good
While built in 1962, the listing explicitly states that 'three of the four units have been updated, offering modernized living spaces.' The images confirm these updates are extensive and recent, featuring modern shaker-style cabinets, stainless steel appliances, solid surface countertops, and subway tile backsplashes in the kitchens. Bathrooms also show modern vanities and updated tiling. Flooring consists of clean LVP/laminate and carpet, and lighting includes recessed fixtures. The exterior appears well-maintained for its age. These significant renovations make the majority of the property move-in ready with contemporary finishes, aligning with the 'Good' criteria, despite the original build year and one un-updated unit.
Pros & Cons

Pros

Strong Investment Potential: This fourplex presents an outstanding investment opportunity with clear upside potential, especially given the option to acquire the adjacent property for portfolio expansion.
Prime Rental Location: Conveniently situated within walking distance to Capitola Mall, local restaurants, and 41st Avenue, and less than 1.5 miles from Pleasure Point, ensuring high tenant demand.
Partially Updated Units: Three of the four 2-bedroom, 1-bath units have been updated, offering modernized living spaces that appeal to tenants.
Flexible Ownership Structure: The property is classified as four separate condominium parcels, providing significant flexibility and potential value for future individual unit sales.
Private Outdoor Spaces: Each unit features a private patio or deck, a desirable amenity that enhances tenant comfort and property appeal.

Cons

One Unit Requires Updates: While three units are updated, one unit remains in its original condition, requiring additional investment to modernize and maximize its rental potential.
Property Age & Potential Deferred Maintenance: Built in 1962, the property is over 60 years old, which may imply older infrastructure (e.g., plumbing, electrical, roof) that could lead to future maintenance costs beyond the unit updates.
Extended Market Time & Price Reduction: The property has been on the market for 172 days and has seen a significant price reduction, potentially indicating previous overpricing or market resistance.

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