126 S E Street

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.