8-Unit Apartment
For Sale
$4,300,000
Pennsylvania, Watsonville, CA 95076
ResidentialIncome, Contemporary, Watsonville, CA
Property Size6,048 SF
Lot Size0.30 Acres
Price / SF$710.98
Days on Market125
Property Features for Pennsylvania
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM3
Parking
11
Parking features
Garage, Tandem
Appliances
CooktopGas, OvenElectric, OvenSelfCleaning
Lot features
Grade Mostly Level
Elementary school
PajaroValleyUnified
Middle school
CesarEChavezMiddle_1
High school
PajaroValleyUnified
Elementary school district
PajaroValleyUnified
High school district
PajaroValleyUnified
Subdivision
Watsonville
Standard status
Active
APN
016-331-21-000
Size
6,048 SF
Lot size
0.30 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
private back yards
balconies
built-in storage cabinets
Building Details
Year built
1965
Flooring type
Laminate
Roof type
Composition
Architectural style
Contemporary
Listing Agency:
Bailey Properties
(831) 426-4100
Listed By:
Jo Ellen Smith · License #01341240
(831) 247-9600
Added: Jun 19
Changed: Oct 21
Last Checked: Oct 21 at 11:06AM
MLS# ML82051650
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The 6,048-square-foot apartment property contains eight units: seven two-bedroom, one-bath apartments and one three-bedroom, two-bath apartment. Renovated in 2024, the building received new plumbing, electrical systems, drywall and roofs, along with updated kitchens featuring gas cooktops, quartz countertops and new cabinetry. Laminate flooring runs throughout. Ground-floor units have private yards, and upper-level units include balconies. The property was built in 1965 and occupies 0.301 acres.
Located in Watsonville, the property has access to public water and sewer and is zoned RM3. The stated area amenities include Target, Home Depot, shopping, dining and an elementary school on the corner. Downtown Watsonville and Highway 17 are also accessible. Tenants pay all utilities, and the apartments are described as renting at current market rates.
Located in Watsonville, the property has access to public water and sewer and is zoned RM3. The stated area amenities include Target, Home Depot, shopping, dining and an elementary school on the corner. Downtown Watsonville and Highway 17 are also accessible. Tenants pay all utilities, and the apartments are described as renting at current market rates.
Key Highlights
- Eight apartments: seven 2‑bedroom, 1‑bath units and one 3‑bedroom, 2‑bath unit
- 6,048 square feet on a 0.301‑acre parcel
- Renovated in 2024 with updated plumbing, electrical systems, drywall and roofs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$155,676
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,113,520
$3.1M
Cap Rate 7%
$2,223,943
$2.2M
Cap Rate 9%
$1,729,733
$1.7M
Market Conditions
NOI Build-Up for 6,048 SF
Gross rent
$290.3K $48.00/SF
− Vacancy
−$7.3K −$1.20/SF
EGI
$283.0K $46.80/SF
− OpEx
−$127.4K −$21.06/SF
NOI
$155.7K $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 Rate 5%
$3,113,520
Cap Rate 7%
$2,223,943
Cap Rate 9%
$1,729,733
Alternative Uses
Best Use
Apartment 5plus
$2.22M
$1.95M – $2.59M
NOI $155,676 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$3.46M
$3.03M – $4.03M
NOI $242,077 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,044
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Ground-floor residences have private yards, while upper-level apartments feature balconies.
Where is this apartment building located?
The property is located at Pennsylvania Watsonville, CA.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: Eight apartments: seven 2‑bedroom, 1‑bath units and one 3‑bedroom, 2‑bath unit; 6,048 square feet on a 0.301‑acre parcel; Renovated in 2024 with updated plumbing, electrical systems, drywall and roofs
