For Sale: $3,925,000


Investment Overview

The 46th Ave Apartments offer a rare opportunity to purchase a trophy-asset in a supply constrained market, located just blocks away from Capitola Village, world-renowned surf destinations, shopping, and high-end dining. The property has undergone a significant exterior renovation, consisting of new paint, new facia replacement, new cedar wood siding, new slurry seal, and new landscaping. The roof was replaced in 2003 and is in good condition. All windows are dual pane. Four units have remodeled modern kitchens with new cabinets and granite counter tops. There is significant upside in rent potential for the new owner to stabilize income at a higher cap rate. 90% of water bill is billed back to tenants, limiting future increased water expenses and solidifying profit margins.

Showing Schedule

*September 27th, 12:00 pm - 2:00 pm | October 4th, 12:00 pm - 2:00 pm

*Fill Out form Below or contact broker to RSVP


alex-300x240.jpg

Managing Director

Alex Budka

D: 831-275-5370

E: abudka@atlantisproperties.net

DRE#01913403

joey-300x240.jpg

Managing Director

Joe Budka

D: 831-224-6903

E: jbudka@atlantisproperties.net

DRE#01913402


Property Highlights

  • Upside Potential in Rents

  • Extensively Remodeled Exterior

  • Quiet and Clean Neighborhood

  • Updated Laundry Room and Machines

  • Rare, Capitola Location

    • Walking Distance to 41st Ave, Santa Cruz County’s Busiest Corridor

    • 1 of 33 Apartment Buildings in the City of Capitola