140 Hillside AveBen Lomond, CA 95005

Property Details for 140 Hillside Ave

Lot size

1.53 AC

Property size (Sq ft)

9,028 SF

Property type

Residential income properties

Property subtype

Multifamily properties

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.

Location Insight

City

Ben Lomond

County

Santa Cruz

State

California

Latitude

37.088

Longitude

-122.089

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