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Multifamily

421-431 Walnut Ave

421-431 Walnut Ave, Sonoma, CA 95476

Listing Price: $1,350,000

Cap Rate
3.16%
Number of Units
4
Occupancy
100.0%
Price/Unit
$337,500
Price/Gross SF
$376.67
Gross SF
3,584

Investment Overview

Marcus & Millichap is pleased to present 421-431 Walnut Avenue in Sonoma, California. The asset is located in a quiet and predominantly residential neighborhood in one of the most well known wine cities in the country. There are two single-level duplex buildings that were built in approximately 1968. The unit mix is comprised of four two-bedroom one-bathroom units estimated at around 896 square feet each. The buildings feature a stucco exterior and pitched composite shingle roofs which sit on a spacious .34-acre lot. Each unit has its own carport parking along with an additional off-street parking space. Each unit also features washer and dryer hookups in the units storage area. The tenants also have access to a large private backyard and a great location for a potential community BBQ area. This value-add property allows a Buyer the opportunity through a renovation program the ability to capture more than an additional $500 in monthly rents per unit. Additionally, all unit utilities are individually metered with the exception of the sewer expense reducing the overall operating costs. This investment is well-suited to provide an investor with long-term healthy cash flow returns and appreciation being located in a desirable housing supply constraint market. A Buyer can take advantage of the low interest rate environment and lock in a long term low interest rate allowing an increase in cash flow returns for years to come. The city of Sonoma is a hub for one of the world's finest grape growing regions and traveling destinations for wine enthusiasts. Sonoma has a small town atmosphere blended with the entrepreneurial spirit of the Bay Area with San Francisco only an hour away. 421-431 Walnut Avenue is located in the heart of Sonoma wine country, the historic eight-acre downtown Sonoma Plaza only a short drive away. The Sonoma Plaza is home to the northernmost California mission and centered around numerous shops, fine dining, world renowned wine tasting rooms, and museums providing tenants with a superior living and entertainment environment.

Investment Highlights

  • Over $500 in Post Renovation Rental Upside Per Unit
  • Highly Desirable Sonoma Location, Five Minutes to Sonoma Plaza
  • Single-Level Buildings with All Two-Bedroom Units
  • Pitched Composite Shingle Roofs with Stucco Exteriors
  • Washer/Dryer Hookups and Storage Rooms

Exclusively Listed By

Listing Price: $1,350,000

Cap Rate
3.16%
Number of Units
4
Occupancy
100.0%
Price/Unit
$337,500
Price/Gross SF
$376.67
Gross SF
3,584

Investment Highlights

  • Over $500 in Post Renovation Rental Upside Per Unit
  • Highly Desirable Sonoma Location, Five Minutes to Sonoma Plaza
  • Single-Level Buildings with All Two-Bedroom Units
  • Pitched Composite Shingle Roofs with Stucco Exteriors
  • Washer/Dryer Hookups and Storage Rooms

Investment Overview

Marcus & Millichap is pleased to present 421-431 Walnut Avenue in Sonoma, California. The asset is located in a quiet and predominantly residential neighborhood in one of the most well known wine cities in the country. There are two single-level duplex buildings that were built in approximately 1968. The unit mix is comprised of four two-bedroom one-bathroom units estimated at around 896 square feet each. The buildings feature a stucco exterior and pitched composite shingle roofs which sit on a spacious .34-acre lot. Each unit has its own carport parking along with an additional off-street parking space. Each unit also features washer and dryer hookups in the units storage area. The tenants also have access to a large private backyard and a great location for a potential community BBQ area. This value-add property allows a Buyer the opportunity through a renovation program the ability to capture more than an additional $500 in monthly rents per unit. Additionally, all unit utilities are individually metered with the exception of the sewer expense reducing the overall operating costs. This investment is well-suited to provide an investor with long-term healthy cash flow returns and appreciation being located in a desirable housing supply constraint market. A Buyer can take advantage of the low interest rate environment and lock in a long term low interest rate allowing an increase in cash flow returns for years to come. The city of Sonoma is a hub for one of the world's finest grape growing regions and traveling destinations for wine enthusiasts. Sonoma has a small town atmosphere blended with the entrepreneurial spirit of the Bay Area with San Francisco only an hour away. 421-431 Walnut Avenue is located in the heart of Sonoma wine country, the historic eight-acre downtown Sonoma Plaza only a short drive away. The Sonoma Plaza is home to the northernmost California mission and centered around numerous shops, fine dining, world renowned wine tasting rooms, and museums providing tenants with a superior living and entertainment environment.

Exclusively Listed By

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