Six-Unit Apartment
For Sale
$1,550,000
7 Roache Road, Freedom, CA 95019
Multifamily property with varied residential layouts and onsite parking.
Property Size2,928 SF
Lot Size0.37 Acres
Price / SF$529.37
Days on Market15
Property Features for 7 Roache Road
General Information
Standard status
Active
Size
2,928 SF
Lot size
0.37 Acres
Property subtype
General Commercial
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA, 4 x 1BR/1BA
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$4,498
Amenities
12 Parking Spaces.
Building Details
Year Built
1931
Listing Agency:
Sherman & Boone Realtors
(831) 464-5050
Listed By:
Nick Torres · License #01719985
Source:
Xome
Added: Jul 28
Changed: Aug 10
Last Checked: Aug 11 at 5:11AM
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 Sherman & Boone Realtors
Investment Insights
Based on property information with market context.
This apartment property contains six residential units within 2,928 SF of building area. The unit mix includes one 3-bedroom/1-bath residence, one 2-bedroom/1-bath residence, and four 1-bedroom/1-bath residences. Constructed in 1931, the building sits on an oversized 16,000+ SF lot and includes onsite parking.
The property is located at 7 Roache Road in Freedom, California. Twelve parking spaces are identified, and the neighboring property at 1999 Freedom Blvd is also available for purchase, providing a separately stated opportunity to consider both properties together.
The property is located at 7 Roache Road in Freedom, California. Twelve parking spaces are identified, and the neighboring property at 1999 Freedom Blvd is also available for purchase, providing a separately stated opportunity to consider both properties together.
Key Highlights
- Six residential units with one 3‑bedroom/1‑bath, one 2‑bedroom/1‑bath, and four 1‑bedroom/1‑bath units
- 2,928 SF apartment building constructed in 1931
- Oversized 16,000+ SF lot
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 onsite parking.
Where is this apartment building located?
The property is located at 7 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/1‑bath, one 2‑bedroom/1‑bath, and four 1‑bedroom/1‑bath units; 2,928 SF apartment building constructed in 1931; Oversized 16,000+ SF lot
