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2695 Mar Vista Dr 7 Unit Apartment Building $4,176,394 CAD ($596,628 CAD/Unit) 3.66% Cap Rate Aptos, CA 95003
Investment Highlights
- Fully leased 7-unit multifamily investment property with 100% occupancy.
- Strong in-place income of $17,970 per month and $215,640 annually.
- App-operated on-site laundry facility provides an additional amenity for residents.
- Located in a desirable coastal Aptos neighborhood with convenient access to beaches, dining, shopping, recreation, and major employment centers.
- New Highway 1 pedestrian and bicycle bridge scheduled for completion in 2026 will improve connectivity between Aptos and Seacliff beaches
- For the investor seeking stabilized income and long-term ownership in one of Santa Cruz County's coastal communities.
Executive Summary
This fully leased seven-unit multifamily property offers the fundamentals a thoughtful investor looks for: 100% occupancy, strong in-place income, and coastal location. Generating more than $17,970 in monthly rental income, the property features a proven unit mix of six two-bedroom residences and one studio apartment, providing stable cash flow and immediate income.
Beyond current income, investors can evaluate opportunities through market rent positioning, operating expense review, and net operating income potential, all detailed in the Offering Memorandum. The location is further strengthened by the new pedestrian and bicycle bridge over Highway 1, scheduled for completion in 2026 at the end of Mar Vista Drive, connecting Seacliff and Aptos while improving access to schools, beaches, and community amenities.
For the investor seeking stabilized income and long-term ownership in one of Santa Cruz County's coastal communities, this is an opportunity worth serious consideration.
Beyond current income, investors can evaluate opportunities through market rent positioning, operating expense review, and net operating income potential, all detailed in the Offering Memorandum. The location is further strengthened by the new pedestrian and bicycle bridge over Highway 1, scheduled for completion in 2026 at the end of Mar Vista Drive, connecting Seacliff and Aptos while improving access to schools, beaches, and community amenities.
For the investor seeking stabilized income and long-term ownership in one of Santa Cruz County's coastal communities, this is an opportunity worth serious consideration.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,176,394 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $596,628 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.49 AC |
| Cap Rate | 3.66% | Building Size | 5,096 SF |
| Gross Rent Multiplier | 14.38 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1980 |
| Property Subtype | Apartment | Parking Ratio | 2.75/1,000 SF |
| Zoning | RM-3 - High Density Residential | ||
| Price | $4,176,394 CAD |
| Price Per Unit | $596,628 CAD |
| Sale Type | Investment |
| Cap Rate | 3.66% |
| Gross Rent Multiplier | 14.38 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 5,096 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1980 |
| Parking Ratio | 2.75/1,000 SF |
| Zoning | RM-3 - High Density Residential |
Amenities
- Smoke Detector
Unit Amenities
- Dishwasher
- Disposal
- Storage Space
- Washer/Dryer
- Kitchen
- Refrigerator
- Range
- Carpet
- Yard
- Deck
- Handrails
- Lawn
- Porch
- Smoke Free
- Vinyl Flooring
Site Amenities
- Courtyard
- Fenced Lot
- Laundry Facilities
- Gas Range
- Smoke Free
- Storage Space
- Individual Leases Available
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $2,808 CAD | 375 |
| 2+1 | 6 | $3,871 CAD | 728 - 860 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
20/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Total Assessment | $4,245,804 CAD | |
| Land Assessment | $2,890,125 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,355,679 CAD | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$2,890,125 CAD
Improvements Assessment
$1,355,679 CAD
Total Assessment
$4,245,804 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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2695 Mar Vista Dr
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