Six-Unit Apartment
For Sale
Contact for pricing
5 Roache Road, Freedom, CA 95019
Multifamily property with varied residential layouts and RM-2 zoning in Freedom.
Property Size2,928 SF
Lot Size0.37 Acres
Price / SF$529.37
Days on Market10
Property Features for 5 Roache Road
General Information
Standard status
Active
Size
2,928 SF
Class
C
Total Parking Spaces
12
Lot size
0.37 Acres
Property subtype
Multifamily
Zoning
RM-2
Investment Type
Value Add
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA, 4 x 1BR/1BA
Multifamily Units
6
Building Details
Buildings
4
Units
6
Tenancy
Multi
Listing Agency:
SBA Commercial
(831) 464-5039
Listed By:
Nick Torres · License #CA 01719985
Source:
Crexi
Added: Aug 4
Changed: Aug 12
Last Checked: Aug 12 at 4:48AM
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 SBA Commercial
Investment Insights
Based on property information with market context.
This apartment property at 5 Roache Road contains six residential units within 2,928 square feet. The configuration includes one three-bedroom, one-bath residence; one two-bedroom, one-bath residence; and four one-bedroom, one-bath residences. The varied layouts provide a range of unit sizes within the building, while the 16,000+ SF lot includes onsite parking. The property is zoned RM-2 and located in Freedom, California. Occupants are in place, and showings are to be arranged through the listing brokers.
Key Highlights
- Six residential units with one 3‑bedroom, one 2‑bedroom, and four 1‑bedroom units
- 2,928 SF apartment property at 5 Roache Road, Freedom, CA 95019
- 16,000+ SF lot with onsite parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$75,367
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,507,340
$1.5M
Cap Rate 7%
$1,076,671
$1.1M
Cap Rate 9%
$837,411
$837.4K
Market Conditions
NOI Build-Up for 2,928 SF
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.
Gross rent
$140.5K $48.00/SF
− Vacancy
−$3.5K −$1.20/SF
EGI
$137.0K $46.80/SF
− OpEx
−$61.7K −$21.06/SF
NOI
$75.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,507,340
Cap Rate 7%
$1,076,671
Cap Rate 9%
$837,411
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$942.1K – $1.26M
NOI $75,367 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.67M
$1.46M – $1.95M
NOI $117,196 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
937
Businesses Nearby
Explore this area
Business Placement
Demographics for 95019, CA
6,603
Population
1,899
Households
3.5
Avg Household Size
33
Median Age
15%
College-Educated
60%
High-School Grad
1.1 sq mi
ZIP Area
6,003
Density / Sq Mi
$68,314
Median Household Income
$31,250
Median Earnings
$1,468
Median Rent
$678,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with varied residential layouts and RM-2 zoning in Freedom.
Where is this apartment building located?
The property is located at 5 Roache Road Freedom, CA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Six residential units with one 3‑bedroom, one 2‑bedroom, and four 1‑bedroom units; 2,928 SF apartment property at 5 Roache Road, Freedom, CA 95019; 16,000+ SF lot with onsite parking
