Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    251-255 Lake Ave Watsonville, CA 95076

    • Multifamily properties
    • 0.42 lot acres
    For Sale
    View listing
    $1,750,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Multifamily properties

    Property Details for 251-255 Lake Ave

    Year built
    1957
    Lot size
    0.42 lot acres
    Property type
    Multifamily properties

    Description

    This exceptional investment property, located at 251-255 E Lake Avenue in Watsonville, California, presents a compelling opportunity for discerning investors. Situated on a sizable 0.42-acre lot, this multi-family property offers significant potential for growth and strong returns. The property's address is 251-255 E Lake Avenue. While the precise square footage is currently unavailable, the substantial lot size suggests a considerable building footprint. The asking price for this promising investment is $1,750,000. Given its location in Watsonville, a vibrant and growing community, this property is well-positioned to benefit from increasing rental demand and appreciation in property values. The multi-family nature of the property provides inherent diversification and potential for long-term rental income. Further due diligence is encouraged to fully assess the property's potential and to confirm all details. This is a rare opportunity to acquire a well-located multifamily property in a desirable California market. Serious inquiries are welcome. The property is offered as-is. All interested parties are responsible for conducting their own independent inspections and verifying all information provided.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Watsonville
    County
    Santa Cruz
    State
    California
    Longitude
    -121.755
    Latitude
    36.9148

    Comparable in this City

    • Value Estimation
      $680,000
      5.66 Acres

      925 Freedom Blvd

      APARTMENT HOUSE (5+ UNITS) • 5.66 Acres
      925 Freedom Blvd, Watsonville, CA 95076-3804
      View Details
    • Value Estimation by Request
      1.01 Acres

      1212 Lincoln St

      APARTMENT HOUSE (5+ UNITS) • 1.01 Acres
      1212 Lincoln St, Watsonville, CA 95076-3208
      View Details
    • Value Estimation
      $1,295,000
      5,176 SF

      610 Tuttle Ave, Unit 24

      APARTMENT HOUSE (5+ UNITS) • 5,176 SF
      610 Tuttle Ave, Watsonville, CA 95076-3452
      View Details
    • Value Estimation
      $1,310,000
      4,437 SF

      320 Pennsylvania Dr, Unit 3

      APARTMENT HOUSE (5+ UNITS) • 4,437 SF
      320 Pennsylvania Dr, Watsonville, CA 95076-3719
      View Details
    • Value Estimation
      $2,575,000
      10,872 SF

      95 Pennsylvania Dr, Unit 35

      APARTMENT HOUSE (5+ UNITS) • 10,872 SF
      95 Pennsylvania Dr, Watsonville, CA 95076-3741
      View Details
    • Value Estimation
      $1,850,000
      6,803 SF

      9 Middlefield Ln, Unit 4

      APARTMENT HOUSE (5+ UNITS) • 6,803 SF
      9 Middlefield Ln, Watsonville, CA 95076-3824
      View Details

    Similar Nearby for Sale

    • $1,750,000
      0.42 Acres

      Lake Avenue Multifamily Investment

      Prime Watsonville multifamily opportunity.
      251-255 Lake Ave, Watsonville, CA 95076
      View Details
    • $167,500

      Single Wide Mobile Home

      Two-bedroom, one-bath mobile home in Riverside Park community.
      101 W Front St, Watsonville, CA 95076
      View Details
    • $3,995,000

      Commercial Property with Rental Income

      Commercial property featuring 10 rental units and long-term tenants.
      80 Porter Dr, Watsonville, CA 95076
      View Details
    • $5,195,000
      3,456 SF

      Ocean View Contemporary Home with Guest House

      New contemporary home with guest house and expansive ocean views.
      600 Sea View Ter, Watsonville, CA 95076
      View Details
    • $2,950,000
      5,060 SF

      Remodeled Apartment Complex in Watsonville

      Fully remodeled apartment complex with modern amenities and convenient location.
      290 Pennsylvania Dr, Watsonville, CA 95076
      View Details
    • $399,999

      Spacious Mobile Home in Watsonville

      Comfortable 3-bedroom, 2-bathroom mobile home in all-age park.
      501 S Green Valley Rd, Watsonville, CA 95076
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      18,600 SF

      Westgate Drive Executive Office/Warehouse

      18,600 SF Office/Warehouse in Watsonville, CA
      180 Westgate Dr, Watsonville, CA 95076
      View Details
    • $47 SF/Yr
      3,070 SF

      Retail Space in Desirable Location

      Retail space with ample parking and close to amenities.
      1415-1491 Main St, Watsonville, CA 95076
      View Details
    • Contact for pricing
      37,750 SF

      Retail Space in Downtown Watsonville

      Retail space available in downtown Watsonville with ample parking.
      407 W Beach St, Watsonville, CA 95076
      View Details
    • $1.53 SF/Yr
      4,422 SF

      Medical Office in Watsonville

      Two-story medical office building in Watsonville's commercial district.
      60 Penny Ln, Watsonville, CA 95076
      View Details
    • Contact for pricing
      3,070 SF

      Watsonville Retail Space Available

      Prime 3,070 sq ft retail space in thriving shopping center
      1435 Main St, Watsonville, CA 95076
      View Details
    • $12 SF/Yr
      3,029 SF

      Retail Space in Watsonville

      Retail space available for lease in Watsonville, California.
      1200 Main St, Watsonville, CA 95076
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    251-255 Lake Ave
    Watsonville, CA 95076
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.