Gonda Street Apartments 113-119 Gonda St 16 Unit Apartment Building $5,600,000 ($350,000/Unit) 7.50% Cap Rate Watsonville, CA 95076

113-119 Gonda Street presents a rare value-add multifamily investment opportunity now offered at an attractive 7.5% capitalization rate following a significant price reduction. This 16-unit apartment community is located in unincorporated Monterey County near the Watsonville city limits and offers investors the opportunity to acquire a well-performing asset at a compelling yield in California's highly sought-after Central Coast market.
The property features an attractive unit mix consisting entirely of spacious three-bedroom floor plans, including a combination of 3 Bedroom / 2 Bath and 3 Bedroom / 1.5 Bath units. These larger family-oriented residences continue to experience strong demand due to the limited availability of quality workforce housing throughout the region.
Property amenities include onsite laundry facilities, ample resident parking, functional floor plans, and consistently strong occupancy. The scarcity of large three-bedroom rental units in the surrounding market provides excellent long-term fundamentals and continued potential for rental growth.
Ideally situated with convenient access to Highway 1, the property offers excellent connectivity to Watsonville, Santa Cruz County, Monterey Bay, Salinas, and numerous major employment centers. The area is supported by a diverse economy driven by agriculture, healthcare, education, hospitality, logistics, and a broad range of service industries.
With a newly reduced asking price, an impressive 7.5% cap rate, stable in-place income, and strong long-term appreciation potential, 113-119 Gonda Street represents one of the most compelling multifamily investment opportunities currently available on California's Central Coast.