Santa Cruz Mountains Income
9969 Alba Road Ben Lomond, CA 95005
9969 Alba Road, Ben Lomond, CA, 95005
$695,000
Pending
For Sale
$695,000
Pending
Multi-unit residential property with development potential in Ben Lomond.
Property Size2,263 SF
Lot Size1.00 Acre
Days on Market375
Property Features for 9969 Alba Road
General Information
- Standard status
- Pending
- Size
- 2,263 SF
- Lot size
- 1.00 Acre
- Property subtype
- 5+ Units / Five or More Units
Building Details
- Year Built
- 1946
Listing Agency
Bailey Properties
(831) 706-7349
Listed by
Nick Bailey · License #02042562
(831) 706-7349
Source
Compass
Added: Jul 12, 2025 Updated: Jul 10 at 12:21 pm Checked: Jul 19 at 5:11 am
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 Bailey Properties
Investment Insights
Based on property information with market context.
Located in the Santa Cruz Mountains, this multi-residential property presents a fixer-upper income opportunity. The property includes an adjacent parcel, combining for a total lot size of over one acre. The main structure contains six units, with an additional detached cottage, creating a total of seven income-producing residences. Situated in Ben Lomond, the property is near various amenities. The main structure features a total size of 2263 square feet. The County of Santa Cruz indicates the property includes a Four-Plex (Quadruplex) and a detached cottage. The seller has invested in the permit process to renovate and repair the structures. There are two septic systems on the property, both of which have passed inspection and will need to have electrical re-connected prior to usage. APN 078-142-06-000 is included in the sale.
Key Highlights
- Income‑producing multi‑residential property with 7 units (6 in main structure, 1 detached cottage).
- Large 1+ acre lot size, including an adjacent parcel.
- Fixer‑upper opportunity with potential for increased value through renovation.
Local 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 | $108.6k | $48.00 |
| − Vacancy | −$2.7k | −$1.20 |
| EGI | $105.9k | $46.80 |
| − OpEx | −$47.7k | −$21.06 |
| NOI | $58.2k | $25.74 |
2,263 SF · lease $48.00/SF/yr · vacancy 2.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$832.1K
$728.1K – $970.8K
NOI $58,250 @ 7.0% cap · market cap 8.38%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.29M
$1.13M – $1.51M
NOI $90,579 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Multi-unit residential property with development potential in Ben Lomond.
Where is this apartment building located?
The property is located at 9969 Alba Road Ben Lomond, CA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Income‑producing multi‑residential property with 7 units (6 in main structure, 1 detached cottage).; Large 1+ acre lot size, including an adjacent parcel.; Fixer‑upper opportunity with potential for increased value through renovation.
