3268 Mission Drive, Santa Cruz, California 95065, Santa Cruz, - bed, bath

home-pic
ACTIVE UNDER CONTRACT$2,000,000
3268 Mission Drive, Santa Cruz, California 95065
0Bed
0Bath
3,600Sqft
16,640Lot
Year Built
1976
Close
-
List price
$2M
Original List price
$2M
Price/Sqft
-
HOA
-
Days on market
84 Days
Sold On
2025-11-05
MLS number
ML82003658
Home ConditionFair
Features
Patio
View-

About this home

Perfectly positioned in a sunny mid-county location, between the vibrant hubs of Santa Cruz and Capitola, this multi-family property offers endless possibilities. Featuring four spacious 2-bedroom, 1-bath units - each approximately 900 sq. ft. - you'll find thoughtful layouts with in-unit laundry and private fenced backyard spaces for each residence. The property is comprised of two separate single-level duplex buildings, creating a sense of privacy and comfort for occupants. Nestled on a large 16,000+ sq. ft. flag lot, there's room to possibly enhance outdoor living, create inviting shared community spaces, or explore expansion potential (buyer to verify). With beaches, shopping, dining, and commute routes just minutes away, this is a prime investment in a high-demand rental market. Whether you choose to live in one unit and rent out the others, create a multi-generational living setup, or add this to your income property portfolio, this well-located asset offers flexibility, stability, and room to grow.

Price History

Date
Event
Price
08/13/25
Listing
$2,000,000
Condition Rating
Fair

Built in 1976, this property shows signs of regular maintenance and some updates, such as newer laminate flooring, fresh paint, and a modernized bathroom vanity and fixtures. However, the kitchens feature significantly dated yellow tile countertops and backsplash, along with older white appliances, which require substantial cosmetic updates to meet current standards. Heating appears to be via older wall units rather than central HVAC. While move-in ready, the property's age and the outdated kitchens prevent it from scoring higher than 'Fair'.
Pros & Cons

Pros

Prime Location & Accessibility: Strategically located in a sunny mid-county area between Santa Cruz and Capitola, offering excellent access to beaches, shopping, dining, and major commute routes.
Strong Income-Generating Asset: A quadruplex in a high-demand rental market, providing significant income potential and flexibility for various investment strategies (owner-occupy, multi-generational, pure rental).
Desirable Unit Amenities: Each of the four spacious 2-bedroom, 1-bath units (approx. 900 sq. ft.) includes thoughtful layouts, in-unit laundry, and private fenced backyards, appealing to tenants.
Large Lot with Development Potential: Situated on an expansive 16,000+ sq. ft. flag lot, offering ample space for outdoor enhancements, shared community areas, or potential future expansion.
Enhanced Tenant Privacy: The property consists of two separate single-level duplex buildings, providing a greater sense of privacy and comfort for residents compared to a single multi-unit structure.

Cons

Property Age: Built in 1976, the property is older, which may necessitate updates to systems, infrastructure, or aesthetics to meet modern tenant expectations or reduce long-term maintenance costs.
Flag Lot Characteristics: The flag lot configuration, while large, can sometimes present challenges related to access, visibility, or overall curb appeal compared to properties with direct street frontage.
Unverified Expansion Potential: While the description mentions expansion possibilities, the 'buyer to verify' clause indicates that any development or enhancement plans require thorough due diligence, potentially involving additional costs and regulatory hurdles.

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