Santa Cruz Mountains Income
For Sale
$695,000
Pending
9969 Alba Road, Ben Lomond, CA 95005
Multi-unit residential property with development potential in Ben Lomond.
Property Size2,263 SF
Lot Size1.00 Acre
Days on Market386
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
Changed: Jul 10
Last Checked: Jul 23 at 10:56AM
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.
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Explore this area
Business Placement
Demographics for 95005, CA
6,551
Population
2,892
Households
2.3
Avg Household Size
46
Median Age
46%
College-Educated
97%
High-School Grad
11.8 sq mi
ZIP Area
555
Density / Sq Mi
$107,857
Median Household Income
$70,932
Median Earnings
$2,358
Median Rent
$959,100
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 - 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.
