Well-Maintained Triplex with Detached
28 Madison Street Watsonville, CA 95076
New
For Sale
$1,000,000
Triplex offers three separately metered units, including a newer detached three-car garage with private enclosed parking.
Property Size2,461 SF
Price / SF$406.34
Days on Market7
Property Features for 28 Madison Street
General Information
Standard status
Active
Size
2,461 SF
Property subtype
Multi Family
Building Details
Year Built
1933
Listing Agency:
Aldina Real Estate,Inc.
(831) 566-9716
Listed By:
Tony Melo · License #01844100
(831) 566-9716
Source:
Exitrealty
Added: Jul 23
Changed: Jul 25
Last Checked: Jul 29 at 6:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Aldina Real Estate,Inc.
Investment Insights
Based on property information with market context.
This well-maintained triplex includes two 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit. Each unit is separately metered for gas, electricity, water, sewer, and garbage, allowing tenants to pay their own utilities.
The property features a brand-new permitted detached three-car garage, with each unit receiving its own private enclosed garage equipped with an automatic garage door opener. Exterior updates include freshly painted surfaces for the triplex and detached garage, new fencing, refreshed landscaping, and a newer roof installed within the past 10 years on the multi-unit building.
An expansive rear courtyard provides abundant tenant parking. The property is within walking distance to Mintie White Elementary School, E.A. Hall Middle School, Watsonville High School, and downtown Watsonville.
The property features a brand-new permitted detached three-car garage, with each unit receiving its own private enclosed garage equipped with an automatic garage door opener. Exterior updates include freshly painted surfaces for the triplex and detached garage, new fencing, refreshed landscaping, and a newer roof installed within the past 10 years on the multi-unit building.
An expansive rear courtyard provides abundant tenant parking. The property is within walking distance to Mintie White Elementary School, E.A. Hall Middle School, Watsonville High School, and downtown Watsonville.
Key Highlights
- 1933 triplex with 3 units: two 1 bed/1 bath units plus one 2 bed/1 bath unit
- Each unit is separately metered for gas, electricity, water, sewer, and garbage
- Newly permitted detached 3‑car garage with private enclosed parking for each unit and automatic garage door openers
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $100.4k | $40.80 |
| − Vacancy | −$2.4k | −$0.97 |
| EGI | $98.0k | $39.83 |
| − OpEx | −$29.4k | −$11.95 |
| NOI | $68.6k | $27.88 |
2,461 SF · lease $40.80/SF/yr · vacancy 2.38% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$980.2K
$857.7K – $1.14M
NOI $68,613 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$904.9K
$791.8K – $1.06M
NOI $63,346 @ 7.0% cap · market cap 6.33%
Theoretical Best
Retail
$1.41M
$1.23M – $1.64M
NOI $98,504 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Triplex offers three separately metered units, including a newer detached three-car garage with private enclosed parking.
Where is this triplex located?
The property is located at 28 Madison Street Watsonville, CA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 1933 triplex with 3 units: two 1 bed/1 bath units plus one 2 bed/1 bath unit; Each unit is separately metered for gas, electricity, water, sewer, and garbage; Newly permitted detached 3‑car garage with private enclosed parking for each unit and automatic garage door openers
