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Listed by Adam Foley • CBRE, Inc., DRE#02144332
$11,800,000
Est. payment /mo
5 Beds
3.5 Baths
39,250 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Pending
Purchase Type For Sale
Square Footage 39,250 sqft
Price per Sqft $300
MLS Listing ID ML82046798
Bedrooms 5
Full Baths 3
Half Baths 1
Year Built 1985
Lot Size 2.800 Acres
Property Sub-Type Five or More Units
Property Description
Cedarwood Apartments is a 35-unit, condo-mapped multifamily community on 2.80 acres in central Santa Rosa, offered for purchase individually or as a portfolio with North Street Apartments (1570 North Street, Santa Rosa) The property features a 3BR-heavy unit mix 25 three-bed/2.5-bath townhome-style units averaging 1,230 SF and 10 two-bed flats with individual furnaces, individual hot water heaters, attached garages, and a pool. In-place rents average $2,854, leaving 9% of mark-to-market upside ($253/unit) and an additional $268/unit achievable through interior renovations and exterior siding upgrades. The condo map provides flexible long-term exit optionality. 97% occupied and immediate proximity to Santa Rosa Plaza, Highway 101, and Downtown Santa Rosa.
Location
State CA
County Sonoma
Area Santa Rosa-Northwest
Zoning CITYSR
Interior
Heating Wall Furnace
Cooling Other
Exterior
Parking Features Attached Garage, Covered Parking
Garage Spaces 35.0
Pool Pool - In Ground
Utilities Available Individual Electric Meters, Individual Gas Meters, Public Utilities
Roof Type Flat / Low Pitch
Building
Foundation Crawl Space
Sewer Sewer - Public
Water Public
Others
Restrictions None
Tax ID 152-080-060-000
Security Features Other
Special Listing Condition Not Applicable
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