Description
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.
Address
Open on Google Maps- Address 420 Capitola Road
- City Santa Cruz
- State/county CA
- Zip/Postal Code 95062
Details
Updated on June 1, 2026 at 10:36 pm- Property ID: ML82038636
- Price: $3,800,000
- Property Size: 4530 Sqft
- Land Area: 0.935 Acres
- Year Built: 1950
- Property Type: Commercial Sale
- Property Status: Active
Additional details
- Roof: Composition
- Cooling: None
- Heating: Forced Air
- County: Santa Cruz
- Property Type: Commercial Sale
