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$8,900,000
Est. payment /mo
1.14 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82046785
HOA Y/N No
Year Built 1960
Annual Tax Amount $100,030
Lot Size 1.140 Acres
Property Description
North Street Apartments is a 32-unit value-add multifamily community in Santa Rosa offered for purchase individually or as a portfolio with Cedarwood Apartments (725 W College Ave, Santa Rosa). Built in 1970 on 1.14 acres, the property features a 2BR-dominated unit mix averaging 988 SF, 97% occupancy, and approximately $250,000 in recent capital improvements (reroofing, exterior paint, asphalt, pool, lighting, landscaping). In-place rents average $2,384, with $94/unit of immediate mark-to-market upside and an additional $91/unit achievable through interior renovations laminate flooring, kitchen/bath finishes, and in-unit W/D installation in the remaining 15 units. A 30% RUBS program is already in place. Pool, on-site parking, and a quiet residential location near Santa Rosa Junior College, Downtown Santa Rosa, and Highway 101.
Location
State CA
County Sonoma
Area 699 - Not Defined
Zoning CITYSR
Interior
Heating Electric
Fireplace No
Exterior
Carport Spaces 32
Roof Type Flat
Building
Water Public
Schools
School District Other
Others
Tax ID 180440054000
Special Listing Condition Standard
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Listed by Adam Foley CBRE, Inc. #02144332
Nearby Locations
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4465 Willshire Blvd. Ste. 104, Los Angeles, California, 90068, USA