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516 Capitola Avenue, Capitola, CA 95010

$999,000 Approx. USD 3 beds, 3 baths
1,526 sqft

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Berkshire Hathaway HomeServices California Properties 11828 Rancho Bernardo Rd, Ste 210
San Diego, CA 92128 888-995-7575

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Listing Agent

Greg Lukina | glukina@davidlyng.com
Lic#: 01949291
Broker: Courtesy of David Lyng Real Estate
Phone: 831-600-5581

Co Listing Agent

Derek Fenster | derekfen@yahoo.com
Lic#: 01299424
Broker: Courtesy of David Lyng Real Estate
Phone: 831-588-4773

Agent Remarks

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 Details

Property type: Single Family Residence (Single Family)

Status: Pending

MLS# ML82060123

List price is $999,000 Reduced by $200,000 on 10/19/2026

Price: $999,000

Beds: 3

Baths: 3 (3 full)

Built in 1948

1,526 sqft

0.08 acres

Lot size: 0.0790

County: Santa Cruz

Zoning: MU-N

Heating/cooling: None

Heating description: Wall Furnace

MLS area: 699 - Not Defined

Last Updated: 10/22/2026

Days On Market (DOM): 34

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This listing belongs to the 699 - Not Defined MLS area

Lat/Long: 36.976091, -121.953311.
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Source: CRM. Also Available in ML82060122,

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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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