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Listed by John W Garrett Marcus & Millichap Real Estate Investment Services, Inc.
$ 2,995,000
Est. payment /mo
Active
S 126 E ST Santa Rosa, CA 95404
10,400 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 10,400 sqft
Price per Sqft $287
MLS Listing ID 326083099
HOA Y/N No
Year Built 1962
Lot Size 0.330 Acres
Acres 0.3299
Property Sub-Type 5 or More Units
Property Description
126 S E Street presents an attractive opportunity to acquire a 13-unit multifamily property located just a few blocks from Downtown Santa Rosa. The property combines strong existing cash flow with clearly identifiable opportunities to increase income through allowable rent increases and a gradual unit renovation program. Situated on a single parcel, the property consists entirely of two-bedroom, one-and-a-half-bath townhomes, providing a desirable unit configuration with separation between living and sleeping areas. The property includes 13 covered carport parking spaces, mature street-facing landscaping, and common laundry facilities with convenient app-based payment. Ownership has recently completed significant infrastructure improvements, including replacement of the main electrical panel and electrical subpanels in all 13 units, as well as replacement of the underground water, sewer, and gas utility lines. Each residence also has its own individual water heater, with heat provided by gas wall heaters. Tenants maintain and pay their own PG&E accounts, while ownership is responsible for water, sewer, and garbage expenses. The property offers meaningful near-term income growth potential. Existing below market rents provide an opportunity for a new owner to implement applicable annual allowable rent increases, immediately beginning to narrow the gap between current and market rents. Additional value can be created over time by renovating apartment interiors as units naturally turn over, allowing ownership to modernize the property while preserving existing cash flow. Located near Downtown Santa Rosa, residents enjoy convenient access to restaurants, shopping, entertainment, employment, public transportation, and the broader amenities of Sonoma County. The combination of current income, recent infrastructure investment, a desirable townhome unit mix, and multiple avenues for future NOI growth makes 126 S E Street a compelling North Bay multifamily investment opportunity.
Location
State CA
County Sonoma
Area Santa Rosa-Northeast
Rooms
Basement None
Interior
Heating Wall Furnace
Cooling Ceiling Fan(s)
Laundry Coin Operated, Common Area, Washer/Dryer Owned
Exterior
Carport Spaces 13
Waterfront Description Public
Total Parking Spaces 13
Private Pool No
Building
Lot Description Shape Regular
Story 2
Sewer Public Sewer
Water Public
Others
Tax ID 009203017000
Security Features Video System
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Ramos & Ramos Real Estate Team
Broker Associate | REALTOR License ID: 01704266 | 02115567