Detached Triplex With Shared
For Sale
$879,000
735 Rodriguez ST, Watsonville, CA 95076
Single-level residences provide separation between homes and support long-term rental use.
Property Size2,690 SF
Days on Market8
Property Features for 735 Rodriguez ST
General Information
Standard status
Active
Size
2,690 SF
Property subtype
Triplex
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,582
Amenities
off-street parking
Building Details
Building Size
2,690 SF
Year Built
1940
Buildings
3
Stories
1
Listing Agency:
Russell E. Gross Real Estate
(831) 464-4700
Listed By:
Russell Gross · License #00887251
(831) 464-4700
Source:
Desantisrealty
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 29 at 3:46PM
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 Russell E. Gross Real Estate
Investment Insights
Based on property information with market context.
This triplex consists of three detached, single-level homes, each configured with two bedrooms. The separate structures create clear physical division between residences, while a shared off-street parking area serves the property. Built in 1940, the asset is set on a large lot and is positioned for long-term rental use in Watsonville, California.
Key Highlights
- Three detached homes, each with two bedrooms
- Single‑level layouts across all three residences
- Shared off‑street parking area
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
$74,998
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
8.53%
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%
$1,499,960
$1.5M
Cap Rate 7%
$1,071,400
$1.1M
Cap Rate 9%
$833,311
$833.3K
Market Conditions
NOI Build-Up for 2,690 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
$109.8K $40.80/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$107.1K $39.83/SF
− OpEx
−$32.1K −$11.95/SF
NOI
$75.0K $27.88/SF
Area
Santa Cruz County, CA
Vacancy
2.38%
Lease Rate
$40.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,499,960
Cap Rate 7%
$1,071,400
Cap Rate 9%
$833,311
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$937.5K – $1.25M
NOI $74,998 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$989.2K
$865.5K – $1.15M
NOI $69,241 @ 7.0% cap · market cap 7.88%
Theoretical Best
Retail
$1.54M
$1.35M – $1.79M
NOI $107,670 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,638
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Single-level residences provide separation between homes and support long-term rental use.
Where is this triplex located?
The property is located at 735 Rodriguez ST Watsonville, CA.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: Three detached homes, each with two bedrooms; Single‑level layouts across all three residences; Shared off‑street parking area
