Remodeled Apartment
For Sale
$2,950,000
290 Pennsylvania Dr, Watsonville, CA 95076
Fully remodeled complex offers 8 one-bedroom and 2 two-bedroom units with onsite laundry and covered parking.
Property Size5,060 SF
Price / SF$583
Days on Market107
Property Features for 290 Pennsylvania Dr
General Information
Standard status
Active
Size
5,060 SF
Additional Details
Multifamily Units
10
Amenities
laundry facilities
covered parking
Building Details
Year Built
1978
Tenancy
Multi
Listing Agency:
Real Brokerage Technologies
Listed By:
The C Group · License #70010221
(831) 601-8936
Source:
Myfabuloushome
Added: Jul 7
Changed: Oct 7
Last Checked: Oct 7 at 4:38PM
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 Real Brokerage Technologies
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Investment Insights
Based on property information with market context.
This fully remodeled apartment complex features 8 one-bedroom apartments and 2 two-bedroom apartments. The exterior and interior have undergone a complete renovation, and each unit includes an open layout with new luxury vinyl flooring and fresh paint.
Onsite laundry facilities are available for tenant convenience, and covered parking is provided.
The property is being offered for sale.
Onsite laundry facilities are available for tenant convenience, and covered parking is provided.
The property is being offered for sale.
Key Highlights
- Fully remodeled apartment complex built in 1978
- Unit mix includes 8 one‑bedroom apartments and 2 two‑bedroom apartments
- Each unit features an open layout with new luxury vinyl flooring and fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$130,244
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,604,880
$2.6M
Cap Rate 7%
$1,860,629
$1.9M
Cap Rate 9%
$1,447,156
$1.4M
Market Conditions
NOI Build-Up for 5,060 SF
Gross rent
$242.9K $48.00/SF
− Vacancy
−$6.1K −$1.20/SF
EGI
$236.8K $46.80/SF
− OpEx
−$106.6K −$21.06/SF
NOI
$130.2K $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%
$2,604,880
Cap Rate 7%
$1,860,629
Cap Rate 9%
$1,447,156
Alternative Uses
Best Use
Apartment 5plus
$1.86M
$1.63M – $2.17M
NOI $130,244 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$2.89M
$2.53M – $3.38M
NOI $202,532 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
10
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
945
Businesses Nearby
Explore this area
Business Placement
Demographics for 95076, CA
84,433
Population
26,488
Households
3.2
Avg Household Size
35
Median Age
19%
College-Educated
72%
High-School Grad
135.1 sq mi
ZIP Area
625
Density / Sq Mi
$86,685
Median Household Income
$36,077
Median Earnings
$1,851
Median Rent
$767,200
Median Home Value
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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 - Fully remodeled complex offers 8 one-bedroom and 2 two-bedroom units with onsite laundry and covered parking.
Where is this apartment building located?
The property is located at 290 Pennsylvania Dr Watsonville, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Fully remodeled apartment complex built in 1978; Unit mix includes 8 one‑bedroom apartments and 2 two‑bedroom apartments; Each unit features an open layout with new luxury vinyl flooring and fresh paint
