Investment Overview

625 Humboldt Street is a beautiful, well-maintained craftsman fourplex that has been owned by the same family for three generations. The current generation’s owner, a local retired doctor, inherited the property from his grandmother who lived in one of the apartments with her husband while renting the other three units for income. They were some of the original “house hackers”. The building showcases gorgeous, original hardwood floors and retains many period details, like classic craftsman trim and a grand front door with embedded glass panes. The units consist of one studio, two one-bedroom units, and one two-bedroom unit. There is a basement with tenant storage and leased laundry machines that allow tenants to pay using an app on their phone. The basement also showcases the building’s solid construction – the framing appears to be old growth redwood and a substantial concrete foundation was added in the 1950’s when the building was moved a few feet south due to the widening of College Avenue. In the late 1980’s the owners added a new electrical main panel and subpanels and rewired most of the building. They also updated the plumbing throughout the building. Soon thereafter, they completed seismic retrofit work consisting of bolting the sill plate to the concrete foundation, adding sheer wall, and bracing joists to posts. A recent roof inspection describes the roof as being in “good serviceable condition”. The property has attractive, yet simple landscaping that is on an irrigation system and is relatively low maintenance. Tenants are attracted to the property’s uniquely appealing charm – these are not boring, cookie cutter units, they are one-of-a-kind apartments with classic features and updated systems. And of course, the location, mere blocks from downtown Santa Rosa, offers immediate access to the best of Sonoma County cuisine, entertainment, and shopping. 625 Humboldt will be equally attractive to a seasoned investor, or to a first-time investor, due to its impeccable condition, location, and charm. The next owner should be able to count on long-term, secure cashflow, with relatively low maintenance at a very fair entry price.