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445 E St 19 Unit Apartment Building $5,538,000 CAD ($291,474 CAD/Unit) 5.86% Cap Rate Santa Rosa, CA 95404
EXECUTIVE SUMMARY
Newmark is pleased to present South E Street Apartments located at 445 South E
Street in Santa Rosa, California. The property is in the desirable east side of Santa
Rosa, within short walking distance to Downtown and the Sonoma County
Fairgrounds. Access to Highway 101 and Highway 12 is extremely convenient
providing quick access to other communities within Sonoma County.
Constructed in 1970, the property comprises 19 units in two buildings with(18) 1-
bedroom units and (1) 2-bedroom unit, along with laundry facilities. The property
offers a central courtyard and tuck-under parking all placed on a ±20,280 square
foot parcel.
South E Street Apartments are currently undergoing renovations. All 19 units are
being renovated by the owner with new kitchen millwork, counters, and appliances.
Bathrooms are also being renovated with new millwork and fixtures. New flooring
throughout along with new water heaters.
This offering is unique as it provides a new owner guaranteed income while the Seller
completes all the renovation work after the Close of Escrow. The Seller will MasterLease the property back at renovated market rental rates for a period of two years
after Close of Escrow or six months after stabilization at renovated market rental
rates, whichever occurs first.
This allows the new owner to enjoy stabilized income at fully renovated rents on day
one guarantee by Seller (with a strong financial statement).
Street in Santa Rosa, California. The property is in the desirable east side of Santa
Rosa, within short walking distance to Downtown and the Sonoma County
Fairgrounds. Access to Highway 101 and Highway 12 is extremely convenient
providing quick access to other communities within Sonoma County.
Constructed in 1970, the property comprises 19 units in two buildings with(18) 1-
bedroom units and (1) 2-bedroom unit, along with laundry facilities. The property
offers a central courtyard and tuck-under parking all placed on a ±20,280 square
foot parcel.
South E Street Apartments are currently undergoing renovations. All 19 units are
being renovated by the owner with new kitchen millwork, counters, and appliances.
Bathrooms are also being renovated with new millwork and fixtures. New flooring
throughout along with new water heaters.
This offering is unique as it provides a new owner guaranteed income while the Seller
completes all the renovation work after the Close of Escrow. The Seller will MasterLease the property back at renovated market rental rates for a period of two years
after Close of Escrow or six months after stabilization at renovated market rental
rates, whichever occurs first.
This allows the new owner to enjoy stabilized income at fully renovated rents on day
one guarantee by Seller (with a strong financial statement).
PROPERTY FACTS
| Price | $5,538,000 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $291,474 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.47 AC |
| Cap Rate | 5.86% | Building Size | 17,500 SF |
| No. Units | 19 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 1.26/1,000 SF |
| Zoning | CITYSR | ||
| Price | $5,538,000 CAD |
| Price Per Unit | $291,474 CAD |
| Sale Type | Investment |
| Cap Rate | 5.86% |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.47 AC |
| Building Size | 17,500 SF |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 1.26/1,000 SF |
| Zoning | CITYSR |
AMENITIES
UNIT AMENITIES
- Balcony
- Kitchen
- Refrigerator
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 19 | - | 650 |
1 1
Walk Score®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 009-274-013 | Improvements Assessment | $2,357,991 CAD |
| Land Assessment | $834,380 CAD | Total Assessment | $3,192,372 CAD |
PROPERTY TAXES
Parcel Number
009-274-013
Land Assessment
$834,380 CAD
Improvements Assessment
$2,357,991 CAD
Total Assessment
$3,192,372 CAD
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445 E St
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