REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by CBRE, Inc.
$ 8,900,000
Est. payment | /mo
31,600 SqFt
$ 8,900,000
Est. payment | /mo
31,600 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 31,600 sqft
Price per Sqft $281
MLS Listing ID ML82046785
HOA Y/N No
Year Built 1960
Lot Size 1.140 Acres
Property Sub-Type Other
Source Datashare MLSListings
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
Interior
Heating Electric
Cooling Other
Fireplace No
Exterior
Handicap Access Other
Building
Water Public
"We would love to put our experience and successful track record to work for you. Top 1% in California" Kevin & Naomi Kieffer Compass Homes@EastBayPro.com or M. 925-300-8000"