140 Hillside Ave Ben Lomond, CA 95005
- Apartment buildings
- 9,028 SF
- 1.53 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 140 Hillside Ave
- Lot size
- 1.53 lot acres
- Property size
- 9,028 SF
- Property type
- Apartment buildings
Description
This stabilized multifamily investment property, located at 140 Hillside Ave, Ben Lomond, CA 95005, presents a compelling opportunity. The property consists of a 12-unit apartment building situated on a 1.533-acre lot in Santa Cruz County. The complex includes a mix of unit sizes: studios, one-bedroom, two-bedroom, and three-bedroom apartments, totaling 9,028 square feet with 5,111 square feet of net rentable space. Currently boasting a 91% occupancy rate, the property generates a substantial net operating income (NOI) of $179,569, resulting in a 6.65% capitalization rate. The asking price is $2,700,000, translating to $528.27 per square foot. Built across nine buildings, the property is zoned RM-6 and features on-site laundry facilities that generate additional income. The property is conveniently located near downtown Ben Lomond and within a 20-minute drive of Santa Cruz beaches. One unit is currently vacant and undergoing updates. Long-term tenants and low turnover contribute to the property's consistent performance. The property's location along the San Lorenzo River, nestled amongst redwood trees, offers a unique and desirable living environment. The property's APN is 077-151-19 and is owned by an LLC. This is a rare opportunity to acquire a high-performing multifamily asset in a picturesque setting.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ben Lomond
- County
- Santa Cruz
- State
- California
- Longitude
- -122.089
- Latitude
- 37.088
