Multifamily Property with
New
For Sale
$2,399,000
10040 Highway 9, Ben Lomond, CA 95005
Residential Income (2-4 units), Cabin, Cottage, Rustic, BEN LOMOND, CA
Property Size4,178 SF
Lot Size0.71 Acres
Price / SF$574.20
Days on Market4
Property Features for 10040 Highway 9
General Information
Property type
Residential Multi Family
Property subtype
Cabin
Zoning
R-1-15
Bedrooms
13
Rooms
Bedroom 1, Bedroom 11, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 7, Bedroom 6, Bedroom 13, Bedroom 9, Bedroom 8, Bedroom 12, Bedroom 2, Bedroom 10
Parking
10
Parking features
Off Street
Lot features
Grade - Mostly Level
View
Forest
Subdivision
Ben Lomond
Standard status
Active
Size
4,178 SF
Lot size
0.71 Acres
Utilities
Heating system
Central, Wall Furnace, Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1950
Flooring type
Linoleum, Tile, Laminate
Building materials
Wood Frame
Roof type
Shingle
Architectural style
Rustic, Other, Cottage
Listing Agency:
Action Properties Inc · Keller Williams Realty
(650) 967-8700
Listed By:
Sage Goncharoff · License #02023630
(831) 440-7876
Added: Oct 13
Changed: Oct 14
Last Checked: Oct 16 at 4:06PM
MLS# ML82064484
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This eight-unit multifamily property includes cottages with one- and two-bedroom layouts, two two-bedroom apartments, three studio apartments, and a three-bedroom, two-bath house. The buildings total 4,178 square feet and sit on a 0.709-acre parcel. A large garage provides additional storage space, and off-street parking is available for all units. The property was built in 1950 and has R-1-15 zoning.
Located at 10040 Highway 9 in Ben Lomond, the property is in the San Lorenzo Valley. Highway access and public transportation are noted nearby. Recent work includes repairs, painting, and a new roof on one building, completed in 2026.
Located at 10040 Highway 9 in Ben Lomond, the property is in the San Lorenzo Valley. Highway access and public transportation are noted nearby. Recent work includes repairs, painting, and a new roof on one building, completed in 2026.
Key Highlights
- Eight‑unit property with cottages, apartments, and a house
- 4,178 square feet on 0.709 acres
- Unit mix includes two‑bedroom apartments, studios, one- and two‑bedroom cottages, and a three‑bedroom, two‑bath house
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$107,542
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,150,840
$2.2M
Cap Rate 7%
$1,536,314
$1.5M
Cap Rate 9%
$1,194,911
$1.2M
Market Conditions
NOI Build-Up for 4,178 SF
Gross rent
$200.5K $48.00/SF
− Vacancy
−$5.0K −$1.20/SF
EGI
$195.5K $46.80/SF
− OpEx
−$88.0K −$21.06/SF
NOI
$107.5K $25.74/SF
Area
Santa Cruz County, CA
Vacancy
2.50%
Lease Rate
$48.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,150,840
Cap Rate 7%
$1,536,314
Cap Rate 9%
$1,194,911
Alternative Uses
Best Use
Apartment 5plus
$1.54M
$1.34M – $1.79M
NOI $107,542 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$2.39M
$2.09M – $2.79M
NOI $167,229 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Explore this area
Business Placement
Demographics for 95005, CA
6,551
Population
2,892
Households
2.3
Avg Household Size
46
Median Age
46%
College-Educated
97%
High-School Grad
11.8 sq mi
ZIP Area
555
Density / Sq Mi
$107,857
Median Household Income
$70,932
Median Earnings
$2,358
Median Rent
$959,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - A varied residential configuration includes cottages, apartments, and a house, with off-street parking and a large garage.
Where is this apartment building located?
The property is located at 10040 Highway 9 Ben Lomond, CA.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: Eight‑unit property with cottages, apartments, and a house; 4,178 square feet on 0.709 acres; Unit mix includes two‑bedroom apartments, studios, one- and two‑bedroom cottages, and a three‑bedroom, two‑bath house
