8-Unit Apartment
For Sale
$2,399,000
10040 Highway 9, Ben Lomond, CA 95005
ResidentialIncome, Cabin, Cottage, Rustic, BenLomond, CA
Property Size4,178 SF
Lot Size0.71 Acres
Price / SF$574.20
Days on Market9
Property Features for 10040 Highway 9
General Information
Property type
Residential Multi Family
Property subtype
Cabin
Zoning
R-1-15
Parking
10
Appliances
WasherDryerSomeUnits
Lot features
Grade Mostly Level
View
Forest
Elementary school
SanLorenzoValleyUnified
Middle school
SanLorenzoMiddle
High school
SanLorenzoValleyUnified
Elementary school district
SanLorenzoValleyUnified
High school district
SanLorenzoValleyUnified
Directions
North on State Route 9 from Santa Cruz to Ben Lomond, just past the downtown area, on the right-hand side, at the corner of Jacobson Lane.
Subdivision
BenLomond
Standard status
Active
APN
078-083-12-000
Size
4,178 SF
Lot size
0.71 Acres
Taxes and HOA fees
Tax Annual Amount
14262
Utilities
Heating system
Forced Air, Central, Natural Gas
Water source
Public
Amenities
on-site parking
garage
Building Details
Year built
1950
Floors in Building
1
Flooring type
Laminate, Tile, Linoleum
Roof type
Shingle
Architectural style
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 21
Last Checked: Oct 21 at 12:06PM
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 8-unit apartment property in Ben Lomond occupies a 0.709-acre lot and contains 4,178 square feet. The residential mix includes cottages with one- and two-bedroom layouts, two 2-bedroom apartments, three studio apartments, and a 3-bedroom, 2-bath house. Built in 1950, the property has cottage-style architecture, front porches, and a large garage. On-site parking serves all units.
The property is at 10040 Highway 9 in Ben Lomond, California. Public water service is available, and the listed zoning is R-1-15. Select units have washer and dryer appliances; flooring includes laminate, linoleum, and tile. Heating is described as forced air, natural gas, and central.
The property is at 10040 Highway 9 in Ben Lomond, California. Public water service is available, and the listed zoning is R-1-15. Select units have washer and dryer appliances; flooring includes laminate, linoleum, and tile. Heating is described as forced air, natural gas, and central.
Key Highlights
- 8‑unit multifamily property on 0.709 acres
- 4,178 square feet across a mix of cottages, apartments, and a house
- Unit mix includes one- and two‑bedroom cottages, two 2‑bedroom apartments, three studio apartments, and a 3‑bedroom, 2‑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.
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Property Analytics
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Open Analytics
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 layout combines cottages, apartments, and a separate house on one property.
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: 8‑unit multifamily property on 0.709 acres; 4,178 square feet across a mix of cottages, apartments, and a house; Unit mix includes one- and two‑bedroom cottages, two 2‑bedroom apartments, three studio apartments, and a 3‑bedroom, 2‑bath house
