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.

Property details

Square feet

1,526

Year built

1948

Property type

Residential Income

Lot size

3,441 sqft

Location

516 Capitola Avenue • Capitola, CA 95010

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Listed by

Greg Lukina · David Lyng Real Estate

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909 Laurence Avenue: Sold $1,400,000 · 3 bd · 2 ba · 1,599 sqft · Jul 2026 · 0.4 mi
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Closed sales reported in 95010, nearest first, last 12 months. All recent sales in Capitola →

Residential Income - 516 Capitola Avenue, Capitola, CA