Turnkey multi unit investment opportunity in a convenient Midtown Santa Cruz location. The property features five residential units across three structures plus a vacant rear portion of the parcel offering potential for future development. Unit mix includes a 3BR/2BA single family home (420 Capitola Rd Ext) with an attached studio (420A), a detached 1BR/1BA home (422), and a duplex with a 2BR/1BA unit (422A) and a 2BR/1.5BA unit (424) sharing one wall. Additional improvements include covered parking, a shared laundry area, and several accessory structures. The parcel is primarily designated Urban Medium Residential and zoned RM 4, providing potential flexibility for multi family housing uses. Well located near Midtown Santa Cruz, Ocean Street, Downtown, and area beaches, with convenient access to shopping, dining, and commuter routes. The property has a strong rental history and currently operates as a solid five unit income property with ample open space and long term upside potential, including the possibility for future expansion or larger scale development. Buyer to verify zoning, and development potential with appropriate government agencies.