For Sale: $1,295,000
Current CAP Rate 4.58% | Proforma CAP Rate 6.87%
Showing Schedule:
By Appointment Only
Investment Overview
Exceptionally well-located duplex in the quiet Seacliff neighborhood, just a 10-12 minute walk to the picturesque Rio Del Mar Beach, Marianne's Ice Cream, dining, shopping, parks, and public transportation. All units are vacant, allowing for an owner move-in option, or simply lease both units at market rates for cashflow. There's significant upside with the straightforward potential to fully convert a third unit in the mostly-finished space downstairs, providing the possibility of having a TRIPLEX with minimal investment at DUPLEX pricing! Fully converting the ADU would result in a pro-forma 6.87% cap rate, a rate of return that exceeds that of most other real estate investments in the area. Both upstairs units are 2 bed/1 bath, have private balconies, vaulted ceilings, luminous natural lighting, and are overall in good rent-ready condition. The downstairs space is a 2 bed/1 bath, with its own private backyard. There are three tuck-under enclosed garages with tandem parking, totaling 2 dedicated spaces per unit. Each garage has washer-dryer hookups. Lots of nice updates, including new paint, new decking, and more. Buyers/agents to confirm square footage and any other property related information to verify accuracy.
Property Highlights
All Units have Laundry, Private Garages, and a Deck or Yard
Exterior Remodel 2026
Pre-Existing ADU Conversion - Existing unit with electrical submeter, panel, and garage
Desirable Unit Mix:
(2) 2 Bed/1 Bath Flats with Deck
(1 ADU) 2 Bed/1 Bath Flat with Backyard
Walking distance to shops (with new bridge crossing)
½ Mile to the Beach
Walking distance to proposed Rail Trail Corridor (delivered through Aptos in 2027)
Vice President Investments
Nick Oliver
D: 831-275-5320
E: nick@redwoodpropertyco.com
DRE#02133612
Principal
Alex Budka
D: 831-275-5321
E: alex@redwoodpropertyco.com
DRE#01913403
