516 Capitola AVE, CAPITOLA, CA 95010

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$1,199,000

bedrooms

bathrooms

square feet

1,526

Acreage

0.079

Open Houses

year built

1948

Full Baths

Half Baths

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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.

Location
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County	-
Elementary School	-
Middle School	-
High School	-

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Open houses

None scheduled.

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MLS number: ML82060123

Listing status: Active

Listing agent: Greg Lukina #01949291

Listing broker: David Lyng Real Estate (831) 476-0100

Last update: Sunday, September 13 2026 at 6:12 a.m. EDT

Kotohomes National