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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.
Property Type(s):
Commercial
| Last Updated | 3/13/2026 | Year Built | 1950 |
|---|---|---|---|
| Community | 699 - Not Defined | County | Santa Cruz |
Additional Details
| AIR | None |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | 699 - Not Defined |
| HEAT | Forced Air |
| LOT | 0.935 acre(s) |
| LOT DIMENSIONS | 40729 |
| TAXES | 13700 |
| WATER | Public |
Location
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Listed with David Lyng Real Estate
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