Terrace Way, Capitola, CA, 95010
About This Home
Located in the heart of Capitola Village by the Sea, this rare 5-unit Cape Cod style apartment property offers a highly desirable coastal living experience in an area dominated by vacation rentals and single-family homes. The property features ocean views and an unbeatable walkable location just steps to shops and restaurants and a short stroll to the beach creating a true year-round resort lifestyle. The flexible layout allows for multiple use strategies: an owner could occupy the two upper units as a private residence with ocean views while generating income from the three ground-floor units, or lease all five units for maximum cash flow. The property has been well maintained, with interiors renovated in 2019, and is offered fully furnished for immediate occupancy or rental. Opportunities like this are infrequent in Capitola Village, where demand remains strong and vacancy is minimal.
Getting Around
Walker's Paradise
Very Limited Transit
Very BikeableSchools
Construction
Condition
- Year built: 1947
Materials
- Foundation: Slab
- Roof: Composition
Type & Style
- Home type: MultiFamily
- Property subType: Five Or More Units,Residential Income
Interior
Bedrooms & Bathrooms
- Bedrooms: 1
- Bathrooms: 1
Features
- Door features: Other
Heating & Cooling
- Heating features: Wall Furnace
- Cooling features: None
Interior Area
- Total structure area: 3,155
- Total interior livable area: 3,155 sqft
Property
Accessibility
- Accessibility features: Other
Details
- Parcel number: 03516328000
- Zoning: RM
- Special condition: Standard
Lot
- Lot size: 4,182 sqft
Parking
- Parking features: On Street
- Carport: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters in Santa Cruz County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $13,900 | $166,800 |
| Home Insurance * | $235 | $2,820 |
| Property Taxes | $1,374 | $16,488 |
| Electricity | $676 | $8,118 |
| Total | $16,185 | $194,220 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-08-10 | Price change | $2,649,000 |
| 2026-06-02 | Listed for sale | $2,749,000 |
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