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Casa Del Mar 136 Marina Ave 8 Unit Apartment Building $4,506,505 CAD ($563,313 CAD/Unit) 5.09% Cap Rate Aptos, CA 95003
Investment Highlights
- Ocean Views
- Prime Beach Location
- Updated Units
Executive Summary
One of a kind investment opportunity in the heart of Rio Del Mar. 136 and 138 Marina are two fourplexes, each with their own separate APN and a shared courtyard. First time on the market in 50+ years.
136 Marina consists of two ground floor studio units, and two one-bedroom units on the second floor. The rear 1-bedroom unit has full ocean views from the balcony. 138 Marina consists of a large one-bedroom ground floor unit with private laundry. On the second floor is another spacious one-bedroom unit plus a studio apartment. The fourth unit, the Penthouse, is a large one-bedroom flat with full ocean views, private laundry, and a view deck. Quite literally located mere steps away from the Esplanade at Rio Del Mar Beach, this unique property offers the best access to coastal amenities. Sandy beaches and good eats at Pixie Deli and Venus Spirits are right around the corner. Ample parking is available on Marina Ave, no permits required. This amazing property is ready for new ownership with tremendous upside potential. Very little turnover and always easy to rent. Kitchens, bathrooms, appliances, and systems have been updated as units turnover. Continue leasing all units or leave one apartment vacant for an owner’s suite.
136 Marina consists of two ground floor studio units, and two one-bedroom units on the second floor. The rear 1-bedroom unit has full ocean views from the balcony. 138 Marina consists of a large one-bedroom ground floor unit with private laundry. On the second floor is another spacious one-bedroom unit plus a studio apartment. The fourth unit, the Penthouse, is a large one-bedroom flat with full ocean views, private laundry, and a view deck. Quite literally located mere steps away from the Esplanade at Rio Del Mar Beach, this unique property offers the best access to coastal amenities. Sandy beaches and good eats at Pixie Deli and Venus Spirits are right around the corner. Ample parking is available on Marina Ave, no permits required. This amazing property is ready for new ownership with tremendous upside potential. Very little turnover and always easy to rent. Kitchens, bathrooms, appliances, and systems have been updated as units turnover. Continue leasing all units or leave one apartment vacant for an owner’s suite.
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$250,253
|
$52.33
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$250,253
|
$52.33
|
| Taxes |
$17,598
|
$3.68
|
| Operating Expenses |
$22,174
|
$4.64
|
| Total Expenses |
$39,772
|
$8.32
|
| Net Operating Income |
$210,480
|
$44.02
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $250,253 |
| Annual Per SF | $52.33 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $250,253 |
| Annual Per SF | $52.33 |
| Taxes (CAD) | |
|---|---|
| Annual | $17,598 |
| Annual Per SF | $3.68 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $22,174 |
| Annual Per SF | $4.64 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $39,772 |
| Annual Per SF | $8.32 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $210,480 |
| Annual Per SF | $44.02 |
Property Facts
| Price | $4,506,505 CAD | Building Class | C |
| Price Per Unit | $563,313 CAD | Lot Size | 0.05 AC |
| Sale Type | Investment | Building Size | 4,782 SF |
| Cap Rate | 5.09% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1964/2024 |
| Property Subtype | Apartment | Parking Ratio | 0.42/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | C-1 - Neighborhood Commercial | ||
| Price | $4,506,505 CAD |
| Price Per Unit | $563,313 CAD |
| Sale Type | Investment |
| Cap Rate | 5.09% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 4,782 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2024 |
| Parking Ratio | 0.42/1,000 SF |
| Zoning | C-1 - Neighborhood Commercial |
Amenities
Unit Amenities
- Balcony
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Views
Site Amenities
- Courtyard
- Waterfront
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | $1,901 CAD | 263 - 373 |
| 1+1 | 5 | $3,214 CAD | 509 - 956 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 042-152-03-000 | Total Assessment | $2,427,358 CAD (2025) |
| Land Assessment | $1,699,151 CAD (2025) | Annual Taxes | $17,598 CAD ($3.68 CAD/SF) |
| Improvements Assessment | $728,208 CAD (2025) | Tax Year | 2023 |
Property Taxes
Parcel Number
042-152-03-000
Land Assessment
$1,699,151 CAD (2025)
Improvements Assessment
$728,208 CAD (2025)
Total Assessment
$2,427,358 CAD (2025)
Annual Taxes
$17,598 CAD ($3.68 CAD/SF)
Tax Year
2023
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Montalvo Home & Estates
Casa Del Mar | 136 Marina Ave
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