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Listed by Steven Level • Berkshire Hathaway
$ 6,500,000
Est. payment /mo
Active
1855 Petaluma Hill RD #1875 Santa Rosa, CA 95404
16,429 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 16,429 sqft
Price per Sqft $395
MLS Listing ID 325080926
HOA Y/N No
Year Built 1939
Lot Size 2.350 Acres
Property Sub-Type 5 or More Units
Property Description
Excellent opportunity to acquire a 39-unit apartment complex on over two acres in Santa Rosa, offering immediate cash flow with significant value-add potential. Colgan Creek Cottages features a diverse unit mix comprised of one (1) 3-bedroom, 2-bath single-family home, one (1) 3-bedroom cottage, four (4) 2-bedroom units, thirteen (13) 1-bedroom units, and twenty (20) studios, spread across multiple parcels. Unlike traditional apartment buildings, most residences are individual cottages with no shared wallsan appealing layout that enhances privacy and drives tenant demand. Amenities include an on-site laundry room with attached workshop and office, three storage buildings, ample on-site parking, and a utility structure that allows for substantial cost recovery through tenant bill-backs. Situated in one of the fastest-growing submarkets of Santa Rosa, the complex enjoys historically strong occupancy with minimal turnover. Significant upside exists through unit renovations and upgrades, while the large lot provides additional development potential through new construction or ADUs. Positioned as an attractive alternative to higher-priced new construction, this investment combines immediate cash flow with multiple pathways for long-term value creation.
Location
State CA
County Sonoma
Area Santa Rosa-Southeast
Interior
Heating Wall Furnace
Cooling None
Exterior
Parking Features Off Street, Open, Uncovered
Garage Spaces 40.0
Roof Type Composition,Shingle
Building
Sewer Public Sewer
Water Public
Others
Special Listing Condition Offer As Is
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