Updated Multi-Unit Apartment
406 E 5th Street Watsonville, CA 95076
For Sale
$1,495,000
Well-maintained eight-unit apartment building on one parcel in Watsonville with separate gas and electric meters.
Property Size4,350 SF
Price / SF$343.68
Days on Market10
Property Features for 406 E 5th Street
General Information
- Standard status
- Active
- Size
- 4,350 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1890
Listing Agency:
Lighthouse Realty
(831) 423-7355
Listed By:
Peter Cook
Source:
Xome
Added: Jul 17
Changed: Jul 25
Last Checked: Jul 26 at 3:28AM
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 Lighthouse Realty
Investment Insights
Based on property information with market context.
Well-maintained multi-unit apartment building comprising eight units on one parcel, including 642 Lincoln Street (6 units) and 406 E 5th Street (duplex). Unit interiors feature updates such as newer electric panels and wall heaters, with most kitchens and bathrooms upgraded. Additional improvements include newer flooring and dual-pane windows. Tenants have separate gas and electric meters, and the property includes a separate laundry room with coin-operated machines.
The building is located in the heart of Watsonville, with no further site or access details provided in the available information.
The property is described as fully occupied with long-term tenants and no vacancy for many years. Buyers should note the existing tenancy and the instruction not to disturb tenants.
The building is located in the heart of Watsonville, with no further site or access details provided in the available information.
The property is described as fully occupied with long-term tenants and no vacancy for many years. Buyers should note the existing tenancy and the instruction not to disturb tenants.
Key Highlights
- 8‑unit apartment building in Watsonville on one parcel
- Separate gas and electric meters for the units
- Units include newer electric panels and wall heaters, plus updated kitchens and bathrooms
Financial Insights For Apartment 5plus
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 | $208.8k | $48.00 |
| − Vacancy | −$5.2k | −$1.20 |
| EGI | $203.6k | $46.80 |
| − OpEx | −$91.6k | −$21.06 |
| NOI | $112.0k | $25.74 |
4,350 SF · lease $48.00/SF/yr · vacancy 2.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.60M
$1.40M – $1.87M
NOI $111,969 @ 7.0% cap · market cap 7.49%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$2.49M
$2.18M – $2.90M
NOI $174,113 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Well-maintained eight-unit apartment building on one parcel in Watsonville with separate gas and electric meters.
Where is this apartment building located?
The property is located at 406 E 5th Street Watsonville, CA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 8‑unit apartment building in Watsonville on one parcel; Separate gas and electric meters for the units; Units include newer electric panels and wall heaters, plus updated kitchens and bathrooms
