Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    King City Multifamily Investment Title is generated by Realmo AI

    420 San Antonio Drive, King City, CA 93930

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    32-unit apartment complex in King City, CA for sale.

    Type:Multifamily
    Property size:
    27,384 SF
    Added:
    May 20, 2026
    Days on Market:
    12
    Last Refresh:
    May 21 at 7:30 am

    Property Features for 420 San Antonio Drive

    General Information

    Standard status
    Active
    Size
    27,384 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    2007

    We can help!

    Listing Contact
    Cole Evarts

    Listing agent Cole Evarts License #02250533

    Listing office LIHTC Advisors

    Listing date May 20, 2026

    Source Crexi

    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 LIHTC Advisors

    HighLights

    • 100% Occupancy: Demonstrates strong demand and immediate cash flow.
    • Assumable HUD 223(f) Loan: Provides attractive financing options.
    • 100% Welfare Property‑Tax Exemption: Significantly reduces operating expenses.
    • 2007 Construction: Relatively new construction.
    • Defensive 2BR/3BA Family Floorplate: Appeals to a stable tenant base.
    • Market‑Rate Community: Offers potential for future rent growth.

    Overview

    Creek Bridge Apartments is a 32-unit market-rate community constructed in 2007, located in King City, CA. The property is currently 100% occupied. The property benefits from a 100% welfare property-tax exemption. The community features a defensive 2BR/3BA family floorplate. The property has historically maintained real-estate tax expenses to under $300 of annual cash cost. The property has an assumable HUD 223(f) loan. The property contains 27,384 square feet.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    King City
    County
    Monterey
    State
    California
    Longitude
    -121.134444
    Latitude
    36.218476

    Nearby Similar for Sale

    • $8,265,000
      2,368 SF

      Expansive Ranch Land with Water Resources

      6,863.64-acre ranch with grazing land and water resources.
      54800 Lonoak Road, King City, CA 93930
      View Details
    • $20,900,000

      King City Farmland Opportunity

      743 acre farm with Class I & II soils.
      48453 Lonoak Road, King City, CA 93930
      View Details
    • $29,165,000
      2,368 SF

      King City Farm and Ranch Estate

      7607 acre farm and ranch with income potential.
      54800 Lonoak Road, King City, CA 93930
      View Details
    • $900,000

      Triplex Near Downtown and Theater

      Three units offer investment opportunity near downtown and movie theater.
      307 N 3rd St, King City, CA 93930
      View Details
    • $3,100,000
      1,006 SF

      Retail Space in King City

      Retail property with freeway access in Monterey County.
      1301 Bdwy St, King City, CA
      View Details
    • $1,499,000

      1674 Acres Recreation Ranch

      1,674+/- acre recreation ranch with easy access.
      60501 Lockwood San Lucas Rd, KingCity, CA 93930
      View Details
    • Contact for pricing
      5,000 SF

      Insulated Warehouse with Small Office

      5,000 SF insulated warehouse featuring a small office.
      S 1st St, King City, CA
      View Details
    • $2,000,000

      Fenced Ranch with Exotic Animals

      King City ranch featuring lodging, cooking facilities, and exotic animals.
      60150 Jolon Rd, King City, CA
      View Details
    • $1,950,000

      King City Ranch Property

      Ranch property suitable for hunting, cattle, horses, and recreation.
      Unnamed Road, King City, CA 93930
      View Details

    FAQs

    What type of property is this?
    Apartment building - 32-unit apartment complex in King City, CA for sale.
    Where is this apartment building located?
    The property is located at 420 San Antonio Drive King City, CA.
    What are key features of this property?
    This property features: 100% Occupancy: Demonstrates strong demand and immediate cash flow.; **Assumable HUD 223(f) Loan**: Provides attractive financing options.; **100% Welfare Property‑Tax Exemption**: Significantly reduces operating expenses.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Cole Evarts
    Real Estate License ID: 02250533
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    420 San Antonio Drive, King City, CA 93930
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!