433 Sonoma Ave 18 Unit Apartment Building $5,497,440 CAD ($305,413 CAD/Unit) 5.58% Cap Rate Santa Rosa, CA 95401

433 Sonoma Avenue is an eighteen-unit apartment community located steps from Downtown Santa Rosa in one of the city’s most walkable and amenity-rich neighborhoods. As the 5th largest city in the Bay Area, Santa Rosa benefits from a diversified local economy, strong employment base, and convenient commuting access to San Francisco and the broader North Bay. The property is ideally positioned adjacent to both Downtown and the vibrant SOFA Arts District, placing residents within walking distance of shopping, dining, entertainment, recreation, and mass transit. For commuters, Highway 101 on-ramps are less than two minutes away, and Charles M. Schulz–Sonoma County Airport provides commercial air service to major Western U.S. cities.
Originally constructed in 1963, the property has undergone numerous structural and cosmetic upgrades, making it an attractive, low-maintenance asset with above-market cash flow. The community consists of a two-story residential building with seventeen 1-bedroom/1-bath units and one 2-bedroom/1-bath units, complemented by a detached single-story structure housing the laundry room, management storage, and mechanical systems. Situated on a prominent corner lot, the site enjoys excellent natural light, strong visibility, and efficient circulation. Each unit features vinyl double-pane windows, and sixteen units have been improved with refurbished original wood cabinetry, vinyl plank flooring, low-flow plumbing fixtures, and newer appliances.
The property has been meticulously maintained, allowing a new owner to operate with minimal near-term capital needs. Improvements include new carport roofs, an recently-re-conditioned roof on the main residential building, and upgraded steel staircases and walkway railings built to current code. The grounds feature drought-tolerant landscaping on automated irrigation, and a recently installed security fence and parking gate. Interiors are clean and functional, offering a clear opportunity for modest luxury upgrades that may support higher rents and long-term value creation.