344 Pennsylvania Dr - Apartments FOR SALE


Watsonville, CA 95076
$4,300,000 USD
831-438-2300
344 Pennsylvania Dr, Watsonville, CA for Sale
$4,300,000 USD
Apartments - FOR SALE
1/46
null | 6.78% Cap Rate

344 Pennsylvania Dr
Watsonville, CA 95076


HIGHLIGHTS

  • Complete 2025 Studs-Out Renovation
  • Strong In-Place Income with Market Rents
  • Desirable Unit Mix and High-Demand Location

OVERVIEW

This property is an exceptional 8-unit investment opportunity in Watsonville. This well-maintained property features seven 2-bedroom, 1-bath units and one 3-bedroom, 2-bath unit, offering strong tenant appeal and a proven rental history. Completely renovated in 2025, this property was fully renovated, built from the studs out with extensive upgrades including new drywall, plumbing, electrical systems, new roofs, modern kitchens with gas cook tops, quartz counter tops, and new cabinetry. Beautifully updated bathrooms with tub and over head showers. Bedrooms are ample sized with large closet area. Built -in storage cabinets in hallway. Luxury plank flooring (LPF) throughout all units. Ground floors have individuals private back yards of various sizes. Upper units have balconies. Features and conditions attract strong rentals. Conveniently located distance to Target, Home Depot, shopping, dining, and everyday amenities. The property also benefits from an elementary school right on the corner and easy access to downtown Watsonville and HWY 17 For investors seeking a turnkey asset with significant capital improvements already completed, this is a rare opportunity to acquire a fully renovated, income-producing property in a highly desirable location. All units are at current market rates with all utilities paid by tenants.

FOR SALE DETAILS

PRICE

$4,300,000 USD

PRICE/SF

$1,086 USD /SF

# OF UNITS

8

PRICE/UNIT

$537,500

CAP RATE

6.78%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,112 SF

ZONING

RM-3 (Medium Density Resi

APN/PARCEL ID

016-331-21-000

ASK ABOUT THIS PROPERTY

Tim BowersCalifornia Regional MLS (CRMLS)More Info
831-438-2300

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Tim BowersCalifornia Regional MLS (CRMLS)More Info
831-438-2300

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.