Las Flores Apartments | 1015 S A St
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Las Flores Apartments 1015 S A St
15 Unit Apartment Building $4,500,000 ($300,000/Unit) 6.05% Cap Rate Santa Rosa, CA 95404
Investment Highlights
- Investors have the opportunity to acquire an exceptional mixed-use investment located in the thriving city of Santa Rosa, CA.
- Total capital expenditures amount to over $975k.
- And water and sewer expenses are reimbursed.
- Las Flores Apartments has undergone significant capital improvements including new awnings, new rain gutters, a new roof, exterior paint and more.
- Investors benefit from simplified financial management, as tenants are individually billed for waste removal.
- Las Flores Apartments offers renters beautifully designed two-bedroom, one-bedroom, and studio floor plans in addition to a spacious retail suite.
Executive Summary
Las Flores Apartments is an exceptional mixed-use investment opportunity consisting of 14 multifamily units and 1 retail suite in the thriving city of Santa Rosa, CA.
Situated on a parcel of land totaling 25,569 square feet, the subject property features a gross building area of approximately 8,500* square feet, offering tenants beautifully designed two-bedroom, one-bedroom, and studio floor plans in addition to a spacious retail suite. The subject property offer efficient financial management, with tenants individually billed for waste removal, and water and sewer expenses are reimbursed.
Las Flores Apartments has recently undergone extensive capital improvements amounting to over $975k. Improvements include new awnings, new rain gutters, a new roof, exterior paint, siding, windows, and doors. Additionally all units have been extensively renovated. Las Flores Apartments is located in the heart of Santa Rosa and is situated nearby Santa Rosa Marketplace, featuring a myriad of dining, shopping, and entertainment options. Santa Rosa offers residents an ideal location right by world famous wine pockets of Napa and Sonoma. The subject property is served by the major transportation corridors of U.S. Highway 101, California State Route 12, and California State Route 116 providing tenants easy access around the Bay Area.
The investment appeal of this asset is driven by Santa Rosa's strong employment fundamentals and low vacancy levels. With a world-class location in Northern California, Las Flores Apartments presents an attractive choice for Sonoma County renters due to its close proximity to major employers, transportation corridors, shopping, dining, and entertainment options.
Situated on a parcel of land totaling 25,569 square feet, the subject property features a gross building area of approximately 8,500* square feet, offering tenants beautifully designed two-bedroom, one-bedroom, and studio floor plans in addition to a spacious retail suite. The subject property offer efficient financial management, with tenants individually billed for waste removal, and water and sewer expenses are reimbursed.
Las Flores Apartments has recently undergone extensive capital improvements amounting to over $975k. Improvements include new awnings, new rain gutters, a new roof, exterior paint, siding, windows, and doors. Additionally all units have been extensively renovated. Las Flores Apartments is located in the heart of Santa Rosa and is situated nearby Santa Rosa Marketplace, featuring a myriad of dining, shopping, and entertainment options. Santa Rosa offers residents an ideal location right by world famous wine pockets of Napa and Sonoma. The subject property is served by the major transportation corridors of U.S. Highway 101, California State Route 12, and California State Route 116 providing tenants easy access around the Bay Area.
The investment appeal of this asset is driven by Santa Rosa's strong employment fundamentals and low vacancy levels. With a world-class location in Northern California, Las Flores Apartments presents an attractive choice for Sonoma County renters due to its close proximity to major employers, transportation corridors, shopping, dining, and entertainment options.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,500,000 | Apartment Style | Low Rise |
| Price Per Unit | $300,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.59 AC |
| Cap Rate | 6.05% | Building Size | 5,855 SF |
| Gross Rent Multiplier | 13.32 | Average Occupancy | 100% |
| No. Units | 15 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1936 |
| Property Subtype | Apartment | Parking Ratio | 2.39/1,000 SF |
| Price | $4,500,000 |
| Price Per Unit | $300,000 |
| Sale Type | Investment |
| Cap Rate | 6.05% |
| Gross Rent Multiplier | 13.32 |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.59 AC |
| Building Size | 5,855 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1936 |
| Parking Ratio | 2.39/1,000 SF |
Unit Amenities
- Air Conditioning
- Kitchen
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
| 2+1 | 1 | - | - |
PROPERTY TAXES
| Parcel Number | 037-121-012 | Total Assessment | $1,176,856 |
| Land Assessment | $353,475 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $823,381 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
037-121-012
Land Assessment
$353,475
Improvements Assessment
$823,381
Total Assessment
$1,176,856
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
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Las Flores Apartments | 1015 S A St
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