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516 Capitola Avenue — Capitola — 1,526 Sq Ft | Belmont Brokerage

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$1,199,000

$786/ft²

1,526 sqft|3,441 sqft lot|1948 Built|0 DOM

516 Capitola Ave, Capitola, CA 95010

Property Description

A rare value-add opportunity in the heart of Capitola, just minutes from Capitola Village, the beach, restaurants, and shops. This versatile triplex features three units across two structures, offering multiple possibilities for investors, owner-occupants, or buyers seeking a Capitola second home with rental income. The front building includes a 1-bedroom/1-bath unit and studio/1-bath unit, while a detached 2-bedroom/1-bath residence sits privately toward the rear. The rear unit features in-unit laundry and will be delivered vacant, creating an opportunity to renovate and make it your own while generating income from the other two units. Each unit has its own off-street parking space. Zoned MU-N (Mixed Use, Neighborhood), the property offers intriguing potential for future improvements or redevelopment, subject to City approval. Build equity through renovation, explore the property's longer-term possibilities, or reposition a well-located investment. Adjacent 2-unit property also available, creating a rare opportunity to acquire 5 units across two neighboring Capitola properties.

Listing provided by: Greg LukinaDRE #01949291(831) 438-5700 glukina@davidlyng.com, David Lyng Real Estate

MLS #: ML82060122

FLIP & EXPANSION SIMULATORJACKPOT FLIP

Simulate profit based on remodel ($140/sf) & addition ($180/sf)

+$211K

+34.4% ROI

Rehab + Add$286K

Est. ARV$1785K

Est. Profit+$211K

Proj. ROI34%

Sqft to Add (Expansion / ADU)+400 sqft (1,926 total sf)

Remodel Rate (Existing Space)$140/sqft ($214K total)