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Multifamily

2378 Heidi Place

2378 Heidi Pl, Santa Rosa, CA 95403

Listing Price: $1,400,000

Cap Rate
5.13%
Number of Units
5
Price/Unit
$280,000
Price/Gross SF
$290.22
Gross SF
4,824

Investment Overview

2378 Heidi Place is comprised of five apartments in a single building situated at the end of cul-de-sac that is comprised entirely of small multifamily properties. The property is in a very convenient rental location in northwest Santa Rosa. The property is walking distance to the Coddingtown Mall, home of Whole Foods, Target, and many other brand-name shopping, dining and entertainment options. The Children's Museum of Sonoma County is around the corner, and access to Hwy 101 is less than one mile away. The property presents an excellent investment opportunity as it provides stable in-place income at a going-in Cap Rate of 5.04%, plus an estimated 7%+ upside in rents, which once captured would deliver the investor an estimated 5.4%+ Cap Rate. With a 40% down payment, and attractive market rate financing of 3.35% for a 5-year fixed loan, an investor could achieve an estimated 4.6%+ cash on cash return at market rents. 2378 Heidi Place consists of (1) two-bedroom, one and one-half bath townhome unit, and (4) two-bedroom, one-bath units. The kitchens in each unit have electric ranges and dishwashers. There is an opportunity to add coin-operated laundry machines to an existing laundry room to generate extra income. There is one assigned covered parking space for each unit, three open surface spots, and ample street parking. The roofs are pitched with composite shingles. Heating is provided by wall heaters in the 2BD / 1BA units, and the townhome unit has forced air heat. There is a single, 75-gallon water heater for the building. Each unit is separately metered for PG&E.

Investment Highlights

  • Great Rental Location Walking Distance to Whole Foods and Target
  • Rental Upside - Current Rents are Estimated 10% Below Market
  • Well Maintained Property with Easy to Rent Units

Exclusively Listed By

Listing Price: $1,400,000

Cap Rate
5.13%
Number of Units
5
Price/Unit
$280,000
Price/Gross SF
$290.22
Gross SF
4,824

Investment Highlights

  • Great Rental Location Walking Distance to Whole Foods and Target
  • Rental Upside - Current Rents are Estimated 10% Below Market
  • Well Maintained Property with Easy to Rent Units

Investment Overview

2378 Heidi Place is comprised of five apartments in a single building situated at the end of cul-de-sac that is comprised entirely of small multifamily properties. The property is in a very convenient rental location in northwest Santa Rosa. The property is walking distance to the Coddingtown Mall, home of Whole Foods, Target, and many other brand-name shopping, dining and entertainment options. The Children's Museum of Sonoma County is around the corner, and access to Hwy 101 is less than one mile away. The property presents an excellent investment opportunity as it provides stable in-place income at a going-in Cap Rate of 5.04%, plus an estimated 7%+ upside in rents, which once captured would deliver the investor an estimated 5.4%+ Cap Rate. With a 40% down payment, and attractive market rate financing of 3.35% for a 5-year fixed loan, an investor could achieve an estimated 4.6%+ cash on cash return at market rents. 2378 Heidi Place consists of (1) two-bedroom, one and one-half bath townhome unit, and (4) two-bedroom, one-bath units. The kitchens in each unit have electric ranges and dishwashers. There is an opportunity to add coin-operated laundry machines to an existing laundry room to generate extra income. There is one assigned covered parking space for each unit, three open surface spots, and ample street parking. The roofs are pitched with composite shingles. Heating is provided by wall heaters in the 2BD / 1BA units, and the townhome unit has forced air heat. There is a single, 75-gallon water heater for the building. Each unit is separately metered for PG&E.

Exclusively Listed By

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