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Santero Way - Cotati Station Apartments

2.42 Acres of Residential Land Offered at $5,250,000 in Cotati, CA 94931

Investment Highlights

  • Cotati Station is a fully entitled and permit ready mixed-use development situated next to the Cotati SMART train depot.
  • Surrounded by vineyards and woodlands, Cotati offers benefits of living in a small city, with the advantages of being located near major urban centers
  • Attractive amenity package including a fully equipped gym, in-suite washer & dryer, electric car charging stations.
  • Highly desirable rental location in Cotati, long been considered the “Hub” of Sonoma County, by virtue of its central location.
  • Cotati has a beautiful, small downtown area that is easily walkable.
  • Market dynamics are favorable for developers of well-located multi-family development sites.

Executive Summary

The Reichenbach Group of Marcus & Millichap is pleased to present Cotati Station at Santero Way, a 2.42-acre vacant lot located in Cotati, California. The land at the corner of E Cotati Blvd and Santero Way is a fully entitled and permit ready mixed-use transit-oriented development site situated next to the Cotati SMART train depot. The site is prepared to construct a new mixed-use development involving 98 residential units and an additional 5,587 square feet of ground floor commercial space. The property will be delivered with entitlements, plans, renderings, geotechnical surveys, and environmental reports. This property is a great opportunity for a developer looking for a fully entitled permit ready development in Sonoma County.
This rare site located at the Cotati SMART train depot, allows tenants easy access to transportation throughout Sonoma and Marin County. This transit-oriented development site provides future tenants with easy walkability to shopping, schools and public transportation. In addition, the site is located less than 1 mile from Sonoma State University.
The project, as currently approved, includes well-designed plans for a three-story residential community comprised of three residential buildings, a retail/commercial component, an award winning designed neighborhood park and extensive off-street parking. As designed, the project will include a total 98 units, including 58 one-bedroom, 33 two-bedroom and 7 three-bedroom units. On average the one-bedroom, two-bedroom and three-bedroom units will be 575 sqft, 1,018 sqft, and 1,147 sqft, respectively. The building will also include a lobby, gymnasium, bicycle room, and a recycling room. Residents will also benefit from the city’s award-winning school system, and proximity to Downtown Cotati’s retail and restaurant district.
Cotati is an incorporated city in Sonoma County, located 45 minutes north of San Francisco on the 101 corridor, between Rohnert Park and Petaluma, CA. Cotati is the smallest incorporated town in Sonoma, but is often considered the hub of Sonoma County due to its central location. A charming city of 7,000 residents’ benefits from its proximity to Sonoma State University and nearby urban centers. Cotati is focused on continuing economic development while keeping its small-town allure. Sonoma County has a mild weather climate and miles of rugged Pacific coastline, towering redwood forests, more than 400 wineries, and 50 pristine nature parks that offer miles of hiking and cycling trails.

Financial Summary (Pro forma - 2023) Click Here to Access

Annual Annual Per AC
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 - -
Operating Expenses - -
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Pro forma - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per AC $9.99
Other Income
Annual $99,999
Annual Per AC $9.99
Vacancy Loss
Annual $99,999
Annual Per AC $9.99
Effective Gross Income
Annual $99,999
Annual Per AC $9.99
Taxes
Annual -
Annual Per AC -
Operating Expenses
Annual -
Annual Per AC -
Total Expenses
Annual $99,999
Annual Per AC $9.99
Net Operating Income
Annual $99,999
Annual Per AC $9.99

Property Facts Under Contract

Price $5,250,000
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Residential
Total Lot Size 2.42 AC

1 Lot Available

Lot

Price $5,250,000
Price Per AC $2,169,421.49
Lot Size 2.42 AC

Description

The project, as currently approved, includes well-designed plans for a three-story residential com-munity comprised of three residential buildings, a retail/commercial component, an award winning designed neighborhood park and extensive off-street parking. As designed, the project will include a total 98 units, including 58 one-bedroom, 33 two-bedroom and 7 three-bedroom units. On average the one-bedroom, two-bedroom and three-bedroom units will be 575 sqft, 1,018 sqft, and 1,147 sqft, respectively. The building will also include a lobby, gymnasium, bicycle room, and a recycling room. Residents will also benefit from the city’s award-winning school system, and proximity to Downtown Cotati’s retail and restaurant district.

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 144-480-014
  • 144-320-034
Land Assessment
$1,002,294
Improvements Assessment
$289,667
Total Assessment
$1,291,961

zoning

Zoning Code C (Commercial)
C (Commercial)
  • Listing ID: 27753181

  • Date on Market: 2/14/2023

  • Last Updated:

  • Address: Santero Way, Cotati, CA 94931

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